MUNCH, March 13 (Reuters) - An Allianz-led consortium is

close to winning a bid for Germany's largest life insurance

administrator Viridium, being sold by financial investor Cinven

in a 3.5 billion euros ($3.80 billion) deal expected to be

finalised next week, two industry sources said on Thursday.

Allianz will acquire 25% stake in Viridium, the

source said, adding that the consortium also includes U.S. asset

manager Blackrock ( BLK ), Japanese life insurer T&D

and Italian insurer Generali, which also holds a 10%

stake in Viridium.

Hannover Re, which founded Viridium together with Cinven,

will sell all or part of its stake, according to

Versicherungsmonitor industry service which reported the news

first.

Hannover Re Chief Financial Officer Clemens Jungsthoefel on

Thursday said a potential deal would have no significant impact

on the company's earnings.

Allianz and Cinven declined to comment on the news.

Blackrock ( BLK ) and T&D were not immediately available for

comment.

($1 = 0.9214 euros)

(Writing by Riham Alkousaa;Editing by Elaine Hardcastle)