Archive

SFCRs shine light on German legacy life books of Zurich and Axa

Groups have planned, with mixed success, to sell the back-books to consolidators

Zurich has a "variety of options" to address German life legacy book

A sale to consolidator Viridium fell through last month

PE ownership can sometimes benefit insurers' credit standing, Fitch says

Effect of private financiers' involvement depends on their strategy, rating agency adds

Achmea says "exploring internal and external options" for life business

Dutch conglomerate has one life unit and two pensions units

Moody's predicts German life consolidation to slow after Zurich-Viridium deal is cancelled

Christian Badorff says that even the perception of BaFin rejecting PE-backed deals could decelerate activity

BaFin's PE-ownership concerns nixed Viridium-Zurich deal

Insurer says it remains committed to finding a solution for legacy portfolio sale

Zurich's €20bn German life backbook deal with Virdium falls apart

'Project Sander' involved 720,000 policies and gross reserves worth €20bn, German unit's SFCR said

Cinven considering Viridium sale, buys Eurovita debt

Moves follow departure of private equity firm's insurance partner

Generali sells German pension vehicle to Frankfurter Leben

Plenty of runway left for life consolidation in Europe

The business of consolidating life insurance portfolios is looking healthy, according to participants, as inflation provides a catalyst and supervisors become more familiar with transactions. Joshua Geer reports