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Private equity firm Cinven is selling Viridium to a consortium that includes BlackRock and insurer Allianz.

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Allianz logo on a building in La Defense, near Paris.

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BlackRock

Allianz

 agreed to buy Viridium Group from European buyout firm Cinven for around 3.5 billion euros ($3.83 billion).

The deal allows Cinven to exit its majority stake in the European consolidator of closed books of insurance policies after more than a decade of ownership.

Allianz-Led Consortium Buys Viridium from Cinven in $3.8 Billion Deal

Cinven Sells Viridium to Allianz-Led Consortium for $3.8 Billion

Viridium will remain an independent stand-alone platform and retain its leadership

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