A consortium of leading insurers and asset managers has acquired Viridium Group, enhancing its potential in the European life insurance market.

Information on the Target

On August 1, 2025, a consortium of prominent insurers and asset managers, including Allianz, BlackRock, Generali, Hannover Re, and T&D Holdings, successfully completed the acquisition of Viridium Group. This acquisition positions Viridium as a leading consolidation platform for life insurance within Europe, formerly held by Cinven. The consortium's strategy focuses on enhancing the operational capability and market position of Viridium within the competitive life insurance landscape.

Following the acquisition, Hannover Re will be replaced in the consortium by Santander Insurance and PG3 AG, a family office based in Switzerland, by September 30, 2025. Viridium Group will continue to operate independently, which is expected to benefit its policyholders through improved insurance services and asset management capabilities. This change aligns with the growing need to capitalize on various opportunities in the fragmented European life insurance industry.

Industry Overview

The European insurance sector is witnessing a paradigm shift, driven by ongoing consolidation trends and regulatory changes. The life insurance market specifically has been fragmented, presenting substantial growth oppo