- Real estate assets not part of Viridium's safety-oriented investment strategy
- Sale contributes to sustained value retention of investments for policyholders
Viridium Group confirms the sale of a real estate portfolio which is part of the fixed assets of Generali Lebensversicherung AG (Generali Leben) to Commerz Real. Generali Leben is majority-owned by Viridium Group. The parties have agreed not to disclose the purchase price.
The sale is mainly attributable to Viridium's safety-oriented investment strategy. Due to the associated market price risk and the related capital requirements, this strategy does not include an asset allocation to real estate. Instead, Viridium focuses on stable, fixed-income investments in the asset allocation of its portfolio companies. Against this background, the sale will make a major contribution to securing the value of assets for the policyholders of Generali Leben in the long term. The proceeds from the sale will benefit the community of policyholders in accordance with the regulatory requirements.
