Organisation
The Viridium Group was founded by a joint venture of Cinven and Hannover Re as Heidelberger Leben Group in 2013/2014 and structured after the holding principle.
The key purchasing and integration processes crucial to the success of the business model of the efficient portfolio consolidator and the central management support and control units are positioned in the Group. To clearly separate the group functions, on the one hand, and the portfolio companies, on the other, the Group acquired an independent market identity in October 2016: Viridium Group.
Life insurance companies and portfolio management
At present, the Viridium Group has four life insurance companies: Heidelberger Lebensversicherung AG, Skandia Lebensversicherung AG in Germany, Entis Lebensversicherung AG and Proxalto Lebensversicherung AG. Portfolio management services for policyholders and business partners, in particular the sales organisations and brokers serving customers, are provided by own service companies.
Third-party administration services – now provided on behalf of Scottish Widows Europe S.A. – are carried out by LV Bestandsservice serving Scottish Widows Europe S.A. policy holders in Germany and Austria.
SIMPLIFIED CORPORATE STRUCURE
Shareholders
The Viridium Group was formed in 2013/2014 in the course of the acquisition of Heidelberger Lebensversicherung AG, which was part of Lloyds Banking Group, by a joint venture of Cinven and Hannover Re.
Cinven is a leading European Private Equity firm focused on leveraging its expertise to build world class companies. Founded in 1977, Cinven has invested in 150 companies and has more than 220 staff across its international offices, including more than 120 investment professionals. Cinven is one of the most active and successful investors in Germany and the wider DACH region, with a strong track record of performance. Cinven takes a responsible approach towards its portfolio companies, local communities, the environment and society.
Hannover Re, with premium volumes of over EUR 27 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 more than 3,000 staff. Established in 1966, the Hannover Re Group today has a network of more than 170 subsidiaries, branches and representative offices worldwide.
Generali
Generali Deutschland is one of the leading primary insurance groups in the German market and part of the international Generali Group. With more than 67 million customers and around 74,000 employees, the Generali Group is one of the world's largest global insurance groups and asset managers. The group was founded in 1831 and is active in 50 countries. In Germany, Generali operates with the brands Generali, CosmosDirekt and Dialog in the segments of life, health and property/casualty insurance for around 10 million customers.
Supervisory Board
The Supervisory Board of Viridium Holding AG consists of eight members and has been headed by Dr. Heinz-Peter Roß (Chairman) since May 2022. Until July 2021 Dr. Roß had been CEO of Viridium Group since mid-2015. Prior to that, he worked for approximately 25 years in leading management positions both in the insurance and banking markets, including Talanx AG, AXA Group and in the corporate customer business of HypoVereinsbank.