Cinven has agreed to sell Viridium Group to a consortium of insurers and asset managers, emphasizing the Company's growth and strategic positioning in the life insurance sector.

Target Information

The Viridium Group is a prominent life insurance consolidator, managing €67 billion in assets and servicing 3.4 million policies through a team of approximately 900 highly specialized employees. The Company focuses on enhancing the attractiveness of existing life policies, thereby creating significant value for its customers and shareholders.

Initially, Cinven Funds invested in Heidelberger Leben in 2014, which specialized in retirement and life insurance products in Germany. With €5 billion in assets under management, 600,000 policies, and around 300 employees, the investment aimed to address the challenges within the fragmented German life insurance market through strategic consolidation and technological innovation.

Industry Overview

The German life insurance sector is characterized by its fragmentation, with numerous small and medium-sized insurers competing for market share. The industry is undergoing a transformation as larger players seek to consolidate operations