Viridium Acquired by Allianz, BlackRock, and T&D Holdings in €3.5bn Deal

A consortium comprising Allianz, BlackRock, and T&D Holdings is set to acquire Viridium Group, a key player in the European life insurance consolidation market, from Cinven for €3.5 billion. This transaction marks Cinven's strategic exit from its decade-long investment in Viridium, during which Viridium has become Germany's leading life insurance platform. Generali Financial Holdings and reinsurer Hannover Re will maintain their stakes in the company as it continues to operate independently under its existing management team. Allianz and partners will reinforce Viridium's position using their extensive asset management expertise. The deal, expected to close in the second half of 2025, aims to capitalize on the consolidation opportunities within the European life insurance sector and support Viridium in delivering reliable returns to its policyholders. T&D Holdings will reportedly become the largest stakeholder in this deal.