- Strong consolidated net profit after taxes of EUR 361 million (previous year: EUR 342 million) reflects the stable business model
- High group Solvency II ratio of 270 percent is a consequence of the conservative capital position
- Low unit lapse ratio of 1.7 percent in 2024 is well below market average (2.7 percent) and demonstrates customer satisfaction
- Future ownership structure enables next acquisitions in Germany and continental Europe
Viridium Group, Germany's leading life insurance consolidator, has again achieved a strong result in its financial year 2024. At EUR 361 million, the consolidated net profit exceeded the previous year's result (2023: EUR 342 million). The group Solvency II ratio rose to 270 percent (2023: 248 percent), reflecting the strong capital position despite a volatile economic and political environment. In the past financial year, gross written premium amounted to EUR 2.8 billion (2023: EUR 3.0 billion). At year-end 2024, Viridium Group managed over 3.2 million contracts and assets totalling around EUR 68 billion.
The positive results for customers are directly reflected in a further increase of the allocations to provisions for premium refunds (Rückstellung für Beitragsrückerstattung, RfB) to EUR 509 million (2023: EUR 456 million). Allocated profits were consequently increased again for 2025. The current minimum interest rate at Proxalto Lebensversicherung was increased to 2.6 percent for 2025, which means that it has more than doubled within two years. As in the previous year, the rate is above the market average[1]. Entis Lebensversicherung further raised its minimum interest rate to 3.35 percent and thus offers the highest current minimum interest rate in the entire market. The group's unit lapse ratio for 2024 of c. 1.7 percent remains well below the market average of c. 2.7 percent[2]. This is an important indicator of customer satisfaction.
"Not only did we celebrate our 10th anniversary in 2024. The past financial year was again very successful for the Viridium Group. Policyholders benefit directly, which is prominently reflected by the further increase of the allocated profits and minimum interest rates for our traditional life insurance portfolios. We fulfil our mission of making existing life insurance policies more attractive and create tangible value for our customers and shareholders,” says Viridium Group CEO, Dr Tilo Dresig.
Growth opportunities with new ownership structure
One of the top priorities of the 2024 financial year was to further develop Viridium’s state-of-the-art business platform, putting the company in an even better position for the future integration of existing life insurance portfolios.
With its future ownership structure – a consortium of Allianz, BlackRock, T&D Holdings, Generali Financial Holdings and Hannover Re – which was announced in March 2025, Viridium is in a strong position to acquire further insurance portfolios. The planned change of ownership is subject to regulatory and merger-control approvals and other customary closing conditions and is expected to be finalised in the second half of 2025.
With this long-term ownership structure, Viridium is well positioned for future growth. The consolidation potential is significant due to the highly fragmented life insurance market in Germany, as well as in continental Europe,” says Dresig.
Viridium will remain an independent stand-alone platform. The group continues to specialise exclusively in consolidating and managing life insurance portfolios without any new business.
The full 2024 annual report is available on the Viridium Group website (in German): annual report 2024
[1] Source: Assekurata Marktstudie 2024: Überschussbeteiligungen und Garantien in der Lebensversicherung
[2] Source: GDV: Lebensversicherung: Eingelöster Neuzugang und Abgang an Hauptversicherungen 2024