At what enterprise value was HEIDELBERGER LEBEN acquired in 2013?

You can find the full valuation details of HEIDELBERGER LEBEN on mynth capital. The transaction's Enterprise Value is estimated to be in the range of 300M - 700M EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Financial Services industry currently tracks an average EBITDA multiple of 12.9x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of HEIDELBERGER LEBEN when it was acquired by CINVEN?

The exact EV/EBITDA multiple for HEIDELBERGER LEBEN is available on mynth capital. For comparison, the Financial Services sector currently shows an average EBITDA multiple of 12.9x. Join our community for free to access full valuation data and industry trends.

When was HEIDELBERGER LEBEN acquired by CINVEN?

HEIDELBERGER LEBEN was acquired by CINVEN in 2013.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the HEIDELBERGER LEBEN acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the HEIDELBERGER LEBEN deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.cinven.com/news-insights/cinven-acquires-heidelberger-leben/

← DATABASE

Home Database Financial ServicesHEIDELBERGER LEBEN

08/2013

CINVEN takes majority stake in HEIDELBERGER LEBEN

GERMANY Insurance EV 300M - 700M EUR

Context

Cinven has announced the acquisition of a majority stake in Heidelberger Leben, a specialist provider of life and retirement insurance products in Germany. This acquisition will create the first consolidation platform for life insurance portfolios in Germany. Heidelberger Leben will be acquired from Lloyds Banking Group for a total consideration of approximately 300 million euros. The company has a portfolio of around 600,000 policies and employs approximately 300 people. This acquisition is part of Cinven's strategy to create consolidation platforms in the life insurance sector in Europe. The transaction is subject to the approval of BaFin.

HEIDELBERGER LEBEN, which reported an EBITDA margin of LOGIN in 2013, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Financial Services sector (12.9x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in Financial Services market trends

Target

Heidelberger Leben is a specialist provider of life and retirement insurance products in Germany, offering a range of unit-linked products. Founded in Germany, the company has a portfolio of around 600,000 policies and employs approximately 300 people. Heidelberger Leben is a partner to MLP AG for a significant portion of its portfolio, thereby benefiting from a solid position in the German life insurance market. With an experienced management team, the company focuses on improving customer service and establishing a consolidation platform for life insurance portfolios in Germany. Heidelberger Leben is well-positioned to capitalize on market trends, including the consolidation of the life insurance sector and the search for efficient portfolio management solutions.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2013

2012

Similar deals in Financial Services

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
01/2026	AXA	PRIMA ASSICURAZIONI	ITALY	Insurance	Axa acquired a 51% stake in Prima Assicurazioni for EUR500 million. The deal includes put/call options for the remaining 49% based on future earnings. This strategic move allows Axa to double its motor insurance footprint in Italy and leverage Prima's best-in-class digital distribution technology
10/2025	PALOMAR	THE GRAY CASUALTY & SURETY	UNITED STATES	Insurance	Palomar Holdings acquired 100% of The Gray Casualty & Surety Company from Bernhard Capital Partners. The acquisition is a transformative step for Palomar's surety franchise, significantly increasing its market share and geographic reach
03/2025	ALLIANZ / BLACKROCK / T&D HOLDINGS	VIRIDIUM GROUP	GERMANY	Insurance	The acquisition of Viridium Group by a consortium including Allianz, BlackRock, and T&D Holdings is a strategic move to strengthen the position of these companies in the European life insurance market
09/2024	TITLE RESOURCES GROUP (TRG)	DOMA	UNITED STATES	Insurance	The acquisition of Doma Holdings by Title Resources Group (TRG) represents a landmark consolidation in the U.S. title insurance market. A unique strategic component of the deal involves the separation of Doma’s assets: Doma’s underwriting division (DTI) becomes a wholly owned subsidiary of TRG, while its technology division (Doma TechCo) will operate as a separately capitalized sister company
07/2023	SANTIANE	JULIA ASSURANCE	FRANCE	Insurance	The acquisition of Julia Assurance by Santiane marks a strategic move by the latter to diversify its services and expand its market footprint. By partnering with Julia Assurance, Santiane aims to strengthen its position in the French insurance market and capitalize on the growing demand for loan insurance
12/2019	WATFORD	AXERIA IARD	FRANCE	Insurance	As part of its strategic refocusing on insurance brokerage, April Group sold Axeria IARD to WATFORD. This divestment allows April to exit the capital-intensive risk-carrying business and operate as a pure wholesale broker, while securing a long-term partnership with the carrier
07/2016	NAXICAP PARTNERS	STELLIANT	FRANCE	Insurance	The fifth LBO of Texa represents a major turning point in the organization's trajectory, signaling a shift toward industrialized claims management and real estate services. The strategic rationale for this transaction centers on an "external-growth" play, merging the group’s industry-leading technical operational depth in loss adjustment with the sponsor’s extensive expertise in executing high-velocity build-up strategies
05/2015	EXOR	PARTNERRE	UNITED STATES	Insurance	EXOR S.p.A. announced a firm and definitive offer to acquire all outstanding common shares of PartnerRe Ltd. at $137.50 per share, which represents a 10% premium to the implied value of $125.17 per PartnerRe share
04/2014	CINVEN	SKANDIA GERMANY & AUSTRIA	GERMANY	Insurance	The acquisition of Skandia Germany and Austria by Heidelberger Leben is a strategic move to consolidate the German life insurance market and create a strong platform for future growth. The deal is expected to drive significant synergies and cost savings, and it will provide Heidelberger Leben with a significant increase in scale and presence in the German and Austrian markets
10/2012	APAX PARTNERS	STELLIANT	FRANCE	Insurance	The acquisition of Texa by Apax Partners represents a major turning point in the professionalization of the French loss adjustment market. The strategic rationale for this transaction centers on an "industrial-consolidation" play, merging the group's industry-leading technical operational depth in P&C expertise with the sponsor's extensive expertise in executing high-velocity buy-and-build strategies

REFERENCES

Valuation range: EV 300M - 700M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of HEIDELBERGER LEBEN by CINVEN are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: heidelberger leben

Acquirer: cinven