T&D Holdings Acquires Viridium Group with Allianz, BlackRock, and Generali.

T&D Holdings has completed the acquisition of Viridium Group with Allianz, BlackRock, and Generali. The acquisition was completed after Hannover Re exited Viridium consortium and Santander Insurance bought in. T&D Holdings previously announced an equity buyback plan and reported a 28% increase in profit for FY2024.

In a significant move, T&D Holdings has completed the acquisition of Viridium Group, marking a substantial shift in the European insurance landscape. The acquisition was finalized after Hannover Rück SE exited the consortium, and Santander Insurance joined as a new member. This transaction aligns with T&D Holdings' strategic vision to enhance its portfolio and capitalize on growth opportunities in the fragmented European life insurance market.

The acquisition was part of a larger deal involving BlackRock, Inc., Allianz SE, Generali Financial Holdings FCP-FIS Sub-Fund 2, and T&D Holdings. The consortium agreed to acquire a majority stake in Viridium Holding AG from Cinven Limited for approximately €3.5 billion [1]. The transaction, completed on August 1, 2024, saw T&D Holdings acquiring the largest share, with the remaining ownership distributed among the consortium members and financial investors [1].

The completion of the acquisition was subject to regulatory and merger-control approvals, which were successfully obtained by the end of the second quarter of 2025. Viridium Group will continue to operate as an independent stand-alone platform, led by its current management team, and will benefit from elevated insurance and asset management capabilities [1].

T&D Holdings' equity buyback plan and the reported 28% increase in profit for FY2024 further underscore the company's financial strength and strategic focus [2]. The addition of Santander Insurance to the consortium will provide Viridium Group with enhanced resources and expertise, positioning it for future growth and innovation.

The transaction highlights the increasing consolidation and strategic partnerships within the European insurance industry. As the market continues to evolve, such acquisitions are expected to play a pivotal role in shaping the future landscape.

References:
[1] https://www.marketscreener.com/news/blackrock-inc-allianz-se-generali-financial-holdings-fcp-fis-sub-fund-2-fund-managed-by-generali-ce7c5fd3dd80f527
[2] https://www.marketscreener.com/news/t-d-holdings-completes-acquisition-of-viridium-group-allianz-blackrock-and-generali-participate-allianz-exits-consortium-santander-insurance-joins-2025