Hannover Re to exit Viridium consortium, while Santander Insurance buys in

The German reinsurer Hannover Re HNR1 is exiting the investor consortium behind Viridium Group, and will be replaced by Santander Insurance and the family office of the co-founders of Partners Group, the companies announced on Friday.

Viridium is a firm that specializes in buying existing life insurance portfolios.

Hannover Re's exit is effective Sept. 30.