Acquisition

Beazley Group PLC
02 January 2007


                                                   Beazley Group plc

                                                   Plantation Place South
                                                   60 Great Tower Street
                                                   London EC3R 5AD

                                                   Tel: [phone]
                                                   Fax: [phone]
                                                   www.beazley.com

Press Release



Acquisition from Santam increases share of group underwriting capacity to 81%



London, 29 December, 2006 Beazley announces that it has acquired the entire
issued share capital of Santam Corporate Ltd from Santam UK Ltd. Santam
Corporate Ltd participates solely on syndicate 623 with a capacity of £19.0m.


The acquisition allows Beazley to increase its share of the combined capacity
for syndicates 2623 and 623 of £860.0m to 81% for 2007. This increases the
amount the Group underwrites at Lloyd's to £697.0m (2006: £647.0m). As a result
of the Group's reduced capital requirement for 2007, this additional capacity
will not require additional funds to be lodged at Lloyd's.


Santam Corporate Ltd made a profit before tax of £1.0m and had net assets of
£10.8m, for the year ended 31 December 2005. All future profits from 2004 to
2006 years of account will accrue to Beazley. The consideration paid for Santam
Corporate Ltd was £14.4m, in cash.


Andrew Beazley, CEO of Beazley Group plc, said;

'I am delighted that we have been able to acquire Santam's capacity. Beazley
Group plc will now be able to take a larger share of the combined syndicates at
a time when underwriting conditions remain good.'


Under the terms of the UKLA listing rules the acquisition is a Class 2
transaction not requiring shareholder approval.





ENDS


For further information, please contact:

Beazley Group plc
Andrew Beazley
T [phone]

Finsbury
Simon Moyse
T [phone]



Note to Editors:


Beazley Group, plc (BEZ.L) based in London, is the parent company of global,
specialist insurance businesses with operations in the UK, US, France, Singapore
and Hong Kong. Beazley manages two Lloyd's syndicates (Syndicate 2623 and
Syndicate 623) with aggregate underwriting capacity in 2006 of £830m (US$1.5bn).
Both syndicates are rated A by A.M. Best. In the US, Beazley's underwriters
focus on writing specialist insurance products in the admitted market, backed by
Beazley Insurance Company, Inc., an admitted carrier in all 50 states; and
surplus lines risks, backed by the Beazley syndicates at Lloyd's. Beazley
Insurance Company is rated A- by A.M. Best.


Beazley is a market leader in many of its chosen lines including professional
indemnity, commercial property, marine, reinsurance, and personal lines.


For more information please go to: www.beazley.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange