Viridium Acquires €21 Billion in Life Insurance Policies from Zurich Group Germany
Viridium Group has agreed to buy around 720,000 traditional life insurance policies from Zurich Group Germany. The portfolio holds roughly €21 billion in assets under management. Once completed, this will mark Viridium's fifth major transaction in eight years.
The deal involves carving out the policies into a new entity before transferring them to Viridium. Regulatory approval, including clearance from Germany's financial watchdog BaFin, remains pending. Zurich Group will support the transition under a dedicated agreement until full integration is achieved.
International law firm Freshfields Bruckhaus Deringer is advising Viridium on the acquisition. The team, led by partner Wessel Heukamp, covered corporate, financing, antitrust, employment, and tax matters. On Viridium's side, General Counsel Frank Weißhaupt worked alongside colleagues Carolin Brand and Robert Schalber.
Viridium has steadily expanded its market presence since 2018. Key moves included the 2019 purchase of DIC Asset AG's real estate portfolio, the 2021 logistics portfolio acquisition from LEG Immobilien, and the 2023 integration of Consus funds. Assets under management grew from around €2 billion to over €5 billion during this period. The firm also launched the Viridium Sustainable Real Assets Fund in 2020 and formed a 2024 joint venture for renewable energy assets with a major pension fund.
The transaction reinforces Viridium's role in consolidating closed life insurance portfolios in Germany. Once finalised, the acquired policies will join a portfolio that has expanded significantly through strategic deals. The company's focus on real assets and sustainable investments continues to shape its growth.
