Allianz, BlackRock, and T&D Holdings have joined forces to acquire Viridium Group, a prominent European life insurance consolidation platform. Generali Financial Holdings and Hannover Re will remain as investors in the company. Cinven, after over ten years of investment, will exit its position.
Viridium will continue operating independently, focusing on managing closed life insurance portfolios. This new ownership structure aims to strengthen Viridium's role as a leading consolidator in the European life insurance market. The consortium believes that this partnership will enhance the development of the European closed-life market and offer more options for managing closed-life books within the industry.
The transaction is expected to be finalized in the second half of 2025, pending regulatory approvals and other customary conditions. The deal is valued at approximately EUR 3.5 billion, with T&D Holdings acquiring the largest share among consortium members.
Florian Amberg from Allianz commented on their involvement: "This partnership between leading financial institutions and Viridium will contribute to the development of the European closed-life market."
Nadia Bauer from BlackRock highlighted their asset management capabilities: "The consortium’s leading asset management capabilities across a wide spectrum of asset classes...will also support Viridium’s ability to generate attractive returns for its policyholders."
Oliver Süß from Hannover Re emphasized financial security: "The strong financial standing of the consortium investors will enable Viridium to continue growing successfully as an independent stand-alone platform."
Sara Yussefi from Viridium stated: "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 growth opportunities."
The companies involved are confident that this acquisition will ensure a financially secure future for both current and future policyholders while providing stable earnings and attractive returns for shareholders.