Institutional investors have acquired Germany-based life insurance platform Viridium Group for €3.5 billion, marking a pivotal move in the European closed-book life insurance market.

Information on the Target

Viridium Group, based in Germany, is a prominent life insurance platform known for its management of closed life insurance books. The firm was previously owned by private equity firm Cinven and has established itself as an independent entity specializing in asset management and insurance services. This acquisition enables Viridium to enhance its capabilities and adapt to the evolving needs of policyholders in a competitive market.

Industry Overview in Germany

The life insurance industry in Germany is one of the largest and most sophisticated in Europe, characterized by a diverse range of products and services. The sector has witnessed significant transformations in recent years, particularly with the increasing number of closed-book operations, where companies manage policies that no longer attract new business. These operations face unique challenges related to profitability and regulatory compliance, driving a wave of consolidation among insurers.

Germany's insurance market is predominantly domestic, with several established players deeply rooted in the landscape. The growth of digitalization and the dema