Zurich says its buyout of specialist insurer Beazley has secured regulatory approvals as set out in the scheme of arrangement for the £8.2 billion ($15.4 billion) cash acquisition. 

A court hearing is set for tomorrow to sanction the scheme, Zurich says in an update on the transaction’s progress. 

The update says the scheme will become effective on October 1 and Beazley listing on the London Stock Exchange will be cancelled by the next day. 

Beazley shareholders agreed to accept the takeover after Zurich raised its offer for the specialty lines insurer.