ORGANISATION

The Viridium Group was originally established with a holding company structure as Heidelberger Leben Group on the basis of Heidelberger Lebensversicherung AG which was acquired by a joint venture of Cinven and Hannover Re in 2013.

The key purchasing and integration processes crucial to the success of the business model of the consolidation platform and the central management support and control units are positioned in the Group (i.e. the holding company). To clearly separate the group functions, on the one hand, and the portfolio companies, on the other, the Group acquired a new, and independent market identity in October 2016: Viridium Group.


Portfolio companies and portfolio management

At present (August 2017), the Viridium Group has three portfolio companies: Heidelberger Lebensversicherung AG, Skandia Lebensversicherung AG in German and Entis Lebensversicherung AG. The operational aspects of the portfolio management services for policy holders and business partners, in particular the sales organisations and brokers serving customers, are handled by service companies.


Third-party administration services – now provided on behalf of Scottish Widows – are carried out by Heidelberger Leben Service Management GmbH (HLSM). HLSM serves Scottish Widows policy holders in Germany and Austria.

Simplified corporate strucure


Shareholders

The Viridium Group was formed in the course of the transfer of ownership of Heidelberger Lebensversicherung AG from Lloyds Banking Group to a joint venture of Cinven and Hannover Re:

Cinven is a leading European private equity firm, formed in 1977, with offices in Guernsey, London, Frankfurt, Paris, Madrid, Milan, Luxembourg, Hong Kong and New York. It invests in European companies that require an equity investment of € 100 million or more from its funds. Cinven invests in successful, high-quality companies and works closely with them to help them grow and develop – using its proven value creation strategies.

Hannover Re, with premium volumes of around EUR 16.4 billion, is the third-largest reinsurer in the world. It transacts all lines of property & casualty and life & health reinsurance and is present on all continents with around 2,900 staff. Established in 1966, the Hannover Re Group today has a network of more than 100 subsidiaries, branches and representative offices worldwide.


Supervisory Board

The Viridium Group Supervisory Board has six members and is headed by Rolf-Peter Hoenen (Chairman). Until the middle of 2009 Rolf-Peter Hoenen spent several years as the spokesman of the management board of HUK-Coburg Versicherungsgruppe and was president of the German Insurance Association (GDV) from November 2008 to November 2012.