Consortium of Top-Tier Insurers and Asset Managers to Acquire Leading European Life Insurance Consolidator Viridium
- Written by: iPMI Global
A consortium including Allianz, BlackRock and T&D Holdings will acquire ownership of Viridium Group (Viridium), a leading European life insurance consolidation platform, from Cinven. Generali Financial Holdings and Hannover Re remain investors. The consortium is structured to also enable the addition of other long-term financial investors. Through this transaction, Cinven exits from its majority investment in Viridium after more than a decade of developing a highly successful insurance business.
Viridium will remain an independent stand-alone platform, led by the current management team. It will continue to specialize exclusively in consolidating and managing life insurance portfolios and operate as a long-term partner to the European insurance industry.
This partnership between leading financial institutions and Viridium will contribute to the development of the European closed-life market and will further provide the European insurance industry with optionality for the management of closed-life books.
The strong financial standing of the consortium investors will enable Viridium to continue growing successfully as an independent stand-alone platform, providing a financially secure outlook for its current 3.4 million and future policyholders.
The consortium’s leading asset management capabilities across a wide spectrum of asset classes, including private market strategies, will also support Viridium’s ability to generate attractive returns for its policyholders while maintaining a sound financial position. Coupled with the consortium’s deep insurance expertise and Viridium’s highly efficient scalable state-of-the-art IT platform, Viridium will be uniquely positioned to capitalize on the growth opportunities arising from a fragmented European life insurance market.
The transaction is expected to close in the second half of 2025. The completion of the transaction is subject to regulatory and merger-control approvals and other customary closing conditions.
Financial details
2 Headline price, including equity and debt financing.
3 Due to the ownership structure the investment is not fully consolidated by any shareholder.
