Published by Global Banking & Finance Review®
Posted on March 13, 2025
1 min readLast updated: January 24, 2026
An Allianz-led consortium is set to finalize a $3.8 billion acquisition of Viridium, Germany's largest life insurance administrator, next week.
By Alexander Hübner
MUNCH (Reuters) - An Allianz-led consortium is close to winning a bid for Germany's largest life insurance administrator Viridium, being sold by financial investor Cinven in a 3.5 billion euros ($3.80 billion) deal expected to be finalised next week, two industry sources said on Thursday.
Allianz will acquire 25% stake in Viridium, the source said, adding that the consortium also includes U.S. asset manager Blackrock, Japanese life insurer T&D and Italian insurer Generali, which also holds a 10% stake in Viridium.
Hannover Re, which founded Viridium together with Cinven, will sell all or part of its stake, according to Versicherungsmonitor industry service which reported the news first.
Hannover Re Chief Financial Officer Clemens Jungsthoefel on Thursday said a potential deal would have no significant impact on the company's earnings.
Allianz and Cinven declined to comment on the news.
Blackrock and T&D were not immediately available for comment.
($1 = 0.9214 euros)
(Writing by Riham Alkousaa;Editing by Elaine Hardcastle)
The consortium is led by Allianz, which will acquire a 25% stake in Viridium.
The takeover is valued at approximately $3.8 billion, or 3.5 billion euros.
The consortium includes U.S. asset manager Blackrock, Japanese life insurer T&D, and Italian insurer Generali.
Hannover Re's CFO stated that the potential deal would have no significant impact on the company's earnings.
Viridium is being sold by financial investor Cinven.
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