Hengeler Mueller advises consortium of top-tier insurers and asset managers on completion of acquisition of leading European life insurance consolidator Viridium and welcoming of new investors

The consortium of top-tier insurers and asset managers, which includes Allianz, BlackRock, Generali Financial Holdings (1), Hannover Re T&D Holdings, announced today that it has completed the acquisition of Viridium Group, a leading European life insurance consolidation platform, from Cinven.

The transaction was initially announced on March 19, 2025.

The consortium further announced that Santander Insurance and PG3, the family office of the three Partners Group co-founders, will replace Hannover Re as member of the consortium by September 30, 2025.

Viridium will remain an independent stand-alone platform. Viridium’s policyholders will benefit from elevated insurance and asset management capabilities, which will also support Viridium’s ability to capitalize on the growth opportunities of a fragmented European life insurance industry.

This partnership between leading financial institutions and Viridium will contribute to the development of the European closed life market and will further provide the European insurance industry with optionality for the management of closed life books.

Hengeler Mueller advises the consortium and Allianz as lead counsel on this transaction.

(1) Generali Financial Holdings FCP-FIS Sub-fund 2, a sub-fund of Generali Financial Holdings FCP-FIS

Team Allianz

The in-house team at Allianz comprises Klaus von Döhren, Alexander Franz (both M&A), Katharina Hartwig, Wolfgang Winter (both Regulatory), Christian Gerke (Tax), Sven Botthäuser (Antitrust), Stephan Dangelmayer (Corporate), Florian Bentele and Stefan Wirsch (both Allianz Global Investors).

Hengeler Mueller-team for the consortium and Allianz

Insurance/Financial Regulation: Carl-Philipp Eberlein (lead, partner, Düsseldorf), Gerrit Tönningsen (Frankfurt), Marvin Geisler (Düsseldorf, both senior associate), Lennard Wilksen, Matthias Mayer, Justus Brühl (all Düsseldorf), Maximilian Höflich (Frankfurt, all associate),

Corporate/M&A: Daniel Möritz (Munich), Ingo Berner, Maike Hölty (both Berlin), Christian Strothotte (Düsseldorf, all partner), Christoph Roggemann (Munich), Moritz Weidemann (Frankfurt, both senior associate), Lukas Sengülsen, Amir Hanna (both Frankfurt), Elmar Willemsen, Ansgar Alofs, Emre Aksoy, Gülsah Schrader, Jonna Klockenhoff (all Berlin), Maximilian Metzen, Julia Redbrake, Leonhard Kappenhagen, Sarah Schadeck (all Düsseldorf), Sophie Zeidler, Benjamin Scheifele, Daniel Omasreiter (all Munich, all associate),

Tax: Sebastian Adam (Frankfurt), Markus Ernst (Munich, both partner), Jan Henry Adami (senior associate), Ann-Christin Wolf (associate, both Frankfurt),

Antitrust: Sarah Milde Lodde (partner, Munich), Christian Dankerl (counsel, Brussels), Maximilian Mevißen (associate, Munich),

Financing: Henning Hilke (partner), Pascal Brandt (senior associate), Karsten Staupe (associate, all Frankfurt),

Data protection: Michael Schramm (partner),

FDI: Jan Schülting (senior associate, Düsseldorf),

IP/IT: Matthias Rothkopf (partner, Düsseldorf), Patrick M. Schmidt (senior associate, Frankfurt),

Employment: Hendrik Bockenheimer (partner, Frankfurt), Kira Fritsche (senior associate, Düsseldorf).