Proxalto

What Proxalto does

Proxalto Lebensversicherung AG is a German closed-book life insurance portfolio manager headquartered in Neu-Isenburg (registered office in Offenbach am Main) and a wholly owned subsidiary of Viridium Gruppe since 2019. The company was originally part of Generali and rebranded to Proxalto in conjunction with the change of control; it has not written new life insurance business since 2018 and now operates exclusively as a servicer of its existing book of approximately 2.6 million classical, guarantee-based, and unit-linked contracts, backed by approximately €43 billion in capital investments at year-end 2025. Its core technology stack is the Viridium unified insurance administration platform — a modern, scalable system that consolidated previously fragmented portfolios onto a single environment, augmented by an online customer self-service portal, a digital fund management service with Morningstar data integration, and a dedicated broker portal (Maklerportal) for intermediary partners.

The business model combines recurring premium income from the existing book, investment returns on the €43 billion asset portfolio, and unit-linked fund management fees. There is no new policy acquisition channel by design; revenue mechanics are run-off by nature, with contracts terminating via maturity, surrender, or death benefit over time. The offering centers on three integrated services: Kundenservice (customer service for address changes, bank updates, contract inquiries, and surrender/maturity processing), Investmentservice (24/7 online fund selection and switching for unit-linked and state-subsidized Riester/Rürup policies), and Maklerportal (intermediary access to contract and commission data). Go-to-market is hybrid: B2C direct digital servicing for the 2.6 million policyholders and B2B2C through a network of Vertriebspartner brokers and financial advisors. Pricing is not publicly disclosed and is governed by individual contract terms.

Name

Proxalto

Legal name

Proxalto Lebensversicherung AG

Website

https://proxalto-lv.de

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

251–500 employees

Short description

Proxalto Lebensversicherung AG is a German closed-book life insurance portfolio manager and Viridium Gruppe subsidiary that services approximately 2.6 million existing classical, guarantee-based, and unit-linked contracts backed by roughly €43 billion in capital investments, having ceased new business writing in 2018.

Ownership category

akta.pro rank

Product category

Life Insurance Portfolio Management

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Life Insurance (6311)

akta.pro primary industry

Run-off / Legacy Life & Health Reinsurance Portfolio Management (FSAOAJAB)

Keywords

• Closed life insurance portfolios
• Life insurance administration
• Policyholder services
• Unit-linked fund management
• Insurance portfolio management

Headquarters

HQ city

München

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Life Insurance Premiums: Recurring premium payments from existing classical, guarantee-based, and unit-linked life insurance policies. The company manages approximately 2.6 million insurance contracts with capital investments of approximately 43 billion euros.
2. Fund Management Fees: Management fees generated from unit-linked insurance investments, including both active and inactive single funds available for policyholder selection.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels2 records

Core offering

Proxalto Lebensversicherung AG manages closed life insurance portfolios on behalf of approximately 2.6 million existing policyholders with around 43 billion euros in capital investments (as of end 2025). The company ceased writing new business in 2018 and exclusively services existing classical, guarantee-based, and unit-linked life insurance contracts through an online customer service portal, an investment/fund management platform, and a broker partner portal.

Product overview

Proxalto Lebensversicherung AG is a life insurance portfolio specialist managing approximately 2.6 million insurance contracts and €43 billion in assets (as of end 2025). The company ceased new business in 2018 (as Generali Lebensversicherung) and since 2019 has been part of the Viridium Gruppe, focusing exclusively on serving existing policyholders. The product portfolio centers on three interconnected services: (1) Kundenservice — the core customer service platform for managing traditional, guarantee-based, and fund-linked life insurance policies; (2) Investmentservice — an online fund management platform offering access to active and inactive single funds across asset classes with Morningstar ratings and ESG/SFDR classifications, plus fund switching capabilities; and (3) Maklerportal — a broker partner portal for distribution partners. Additional services include Riester-Rente (state-subsidized pension), Betriebliche Altersversorgung (company pension schemes), and administrative services for address changes, bank account updates, policy surrenders, and maturity payouts. All services are operated on Viridium's modern, scalable insurance administration platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Kundenservice (Customer Service) Central customer service platform providing policyholders with online self-service capabilities for managing existing life insurance contracts, including address changes, bank account updates, contract information requests, and claims processing.
• Investmentservice (Investment Service) Online investment management platform enabling policyholders to manage fund-based insurance investments 24/7, select from active and inactive single funds, perform fund switches, and access fund documentation including FactSheets, prospectuses, and PRIIP KID documents.
• Maklerportal (Broker Portal) Exclusive broker partner portal for insurance intermediaries to access client contract information, manage customer inquiries, and handle distribution-related requests. Access requires registration via Microsoft Office Forms.
• Ablaufleistung (Maturity Payout Service) Service for processing policy maturity payouts when life or pension insurance contracts reach their end date. Includes online application form, document submission, and payment processing with IBAN.
• Kündigung (Surrender Service) Policy surrender service providing information on payout options and alternatives to termination for policyholders considering canceling their insurance contracts.
• Aktive Einzelfonds (Active Single Funds) Selection of 29 actively managed single funds across major asset classes, regularly quality-checked using historical performance metrics relative to peer groups. Includes ESG-rated funds with SFDR Article 8 and Article 9 classifications.
• Riester-Rente (Riester Pension) State-subsidized retirement insurance product (Riester pension) for private pension savings with government incentives, including fund selection for contracts concluded after January 1, 2017.
• Betriebliche Altersversorgung (Company Pension Scheme) Occupational pension provisions including direct insurance solutions for company pension schemes.

Quantifiable outcome

• 43 billion euros in capital investments managed
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Scale indicators6 records

Recent moves7 records

Expansion highlights3 records

Broad incumbents

• Hannover Re: One of the world's largest reinsurers, headquartered in Germany and active in life/health reinsurance including portfolio transactions and run-off solutions. Comparable as a broad incumbent operating in German life insurance risk transfer, though not a specialist direct-life run-off platform.
• SCOR SE: Global reinsurer with a dedicated Legacy book division (formerly SCOR Global Life U.S. inwards reinsurance legacy). Comparable as a large player in the legacy/run-off life and health insurance market, though SCOR operates broadly as a reinsurer rather than as a focused direct-life consolidator.
• Munich Re: Global reinsurance leader with German life reinsurance operations and selective involvement in life insurance portfolio transactions. Comparable as a broad incumbent in the German life risk-transfer ecosystem, though not a focused closed-book consolidator.
• Swiss Re: Global reinsurer with life/health reinsurance and legacy portfolio capabilities. Comparable as a broad incumbent in life insurance risk transfer and run-off, though Swiss Re's primary activity is traditional reinsurance underwriting rather than closed-book direct life management.

Direct peers

• Resolution Life: Global specialist in acquiring and managing closed-block life insurance portfolios, backed by Blackstone. Directly comparable to Proxalto in business model (closed book acquisition, migration onto common platform, long-term contract management) and target activity (European legacy life consolidation).
• Chesnara plc: UK-listed closed life insurance consolidator with operations across the UK, Sweden, the Netherlands, and Germany (closed-book Scorel and Waerd Life books). Comparable to Proxalto as a specialist acquirer and long-term manager of legacy life insurance contracts in European markets.
• Phoenix Group Holdings: UK-listed closed life and pension consolidator managing legacy books across Europe including Germany. Operates a similar platform-based closed-book management strategy and competes for similar acquisition targets in the European life insurance run-off market.
• Viridium Gruppe: Parent company of Proxalto and Germany's leading specialist platform for closed life insurance portfolios, managing ~€67B in capital investments across 3.1M contracts. Operates the same unified insurance platform and business model as Proxalto, making it the most direct peer and capability twin.
• Athora Holding: European closed-book life insurance consolidator backed by Apollo, active in Germany (Athora Deutschland) and several other EU markets. Competes with Proxalto/Viridium for the same pool of legacy German and European life portfolios and runs a similar platform-based administration model.

Others

• Generali Deutschland: Former parent of Proxalto (then Generali Lebensversicherung). Comparable as a traditional primary German life insurer with classical and unit-linked portfolios, and as a counterparty in the broader life insurance consolidation ecosystem that Proxalto/Viridium participates in.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/proxalto-lebensversicherung-ag

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Proxalto