Viridium abandons bid to acquire Zurich Insurance's German life portfolio

The German Viridium Group, specializing in the management of life insurance portfolios, is calling off its bid to acquire Zurich Insurance's German life portfolio.

This decision came following considerations linked to Viridium's current ownership structure.

According to the Swiss insurer, the failure of the sale will not affect its objectives or capital management plans.

It should be recalled that the two groups signed an agreement in June 2022 for a possible transaction.