Allianz, BlackRock, and T&D Holdings have acquired Viridium Group, enhancing its position as a leader in the European life insurance consolidation market while Cinven exits after a decade-long investment.

Information on the Target

Viridium Group (Viridium) is a prominent platform in the European life insurance sector, specialized in the consolidation and management of closed life insurance portfolios. The company is recognized for its independent operations and has established a solid reputation in the market, currently serving 3.4 million policyholders. With the recent investment from a consortium of top-tier financial institutions, Viridium is poised to enhance its capabilities and ensure a financially secure future for both its existing and future clients.

The consortium, which includes leading players such as Allianz, BlackRock, T&D Holdings, Generali Financial Holdings, and Hannover Re, is set to strengthen Viridium's position as a significant consolidator in the European life insurance industry. This investment will enable Viridium to continue its trajectory of growth while maintaining its commitment to high-quality insurance services.

Industry Overview in Germany

The European life insurance market is characterized by its complexity and fragmentation, with numerous players operating in various segments. The consolidation trend is becoming increasingly pronounced, driven by the need for increased