Viridium Group Acquires Traditional Life Insurance Portfolio from Zurich Deutscher Herold

Monument Re Subsidiary Acquires Zurich International Life's Singapore Closed‑Book Portfolio

November 4, 2022

Insurance

Monument International Life Assurance Company Limited (MILAC), an Isle of Man subsidiary of Monument Re Limited, has completed the acquisition of the closed book portfolio of Zurich International Life Limited's Singapore long‑term life insurance business. The Singapore portfolio and its employees have transferred into MILAC's Singapore branch following receipt of court and regulatory approvals in the Isle of Man and Singapore.

Athora Germany to Acquire DBV-Winterthur Life Closed Book Deferred Annuities and Endowments Portfolio from AXA Germany

July 14, 2022

Insurance

Athora Holding Ltd. said its subsidiary Athora Deutschland GmbH (Athora Germany) has agreed to acquire a closed book portfolio of deferred annuities and endowments from AXA Germany. The deal is for a €610 million purchase price (vs. €19 billion of assets under administration) and is expected to make Athora Germany the owner of roughly €24 billion of AuA and 1.1 million customers upon closing.

RGI Acquires NOVUM

July 30, 2019

Software

RGI, a Corsair Capital-backed provider of insurance core systems, has acquired 100% of NOVUM, a DACH-focused developer of policy administration and archiving solutions. The acquisition strengthens RGI's presence in the DACH region and expands its cloud-based policy administration and archiving capabilities while NOVUM's management will remain to continue product investments and execution plans.

Cinven to acquire Viridium and combine it with Generali Lebensversicherung AG

July 13, 2018

Financial Services

Cinven's Sixth Fund has agreed to acquire the Viridium Group and provide equity for Viridium to acquire Generali Lebensversicherung AG, creating a leading consolidator in the German life insurance market. The combination will bring together roughly 5 million policies and around €55–60 billion of assets under management, with Generali Deutschland retaining a 10.1% stake and Hannover Re reinvesting in the combined entity.

Allianz‑Led Consortium (Allianz, BlackRock, Generali, Hannover Re, T&D) Acquires Viridium Group from Cinven

July 13, 2018

Financial Services

A consortium led by Allianz with participation from BlackRock, Generali Financial Holdings, Hannover Re and T&D Holdings completed the acquisition of Viridium Group from Cinven (Cinven Fund 5) for approximately €3.5 billion. Viridium, a leading German life‑insurance consolidation platform headquartered in Neu‑Isenburg, Hesse, was sold as a full exit/realisation of Cinven’s investment after significant portfolio and platform build‑out.

Capital Z Acquires Portfolio Group from Frontenac

June 1, 2016

Insurance

New York-based private equity firm Capital Z Partners Management, LLC acquired Portfolio Group, Inc., a Lake Forest, California–based provider of vehicle service contracts, GAP insurance and other F&I products, from Frontenac Company, LLC. Management will remain in place with significant ownership; terms were not disclosed.