With more than three decades of experience in managing insurance portfolios, we understand the evolving complexities of insurance asset management. We are committed to delivering tailored, scalable investment solutions to actively support your growth ambitions, risk management needs, and sustainability goals.
Today, we are the largest European third-party insurance General Account (GA) manager¹, responsible for nearly EUR 700 billion in client assets for proprietary and third-party insurers² worldwide. When it comes to manging insurance portfolios, deep expertise is at the core of everything what we do.
As part of leading global banking group BNP Paribas, we are well-positioned to provide our insurance partners with a comprehensive range of scalable solutions, ranging from asset management to debt capital markets (DCM), global markets, and security services.
Why invest in our insurance solutions
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Empowering insurers to navigate complexity
Our solutions are designed to help you optimise capital, manage liabilities, and achieve long-term resilience amid an ever-changing regulatory and market landscape.
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A proven approach to risk and return
Our comprehensive approach to portfolio design balances capital efficiency, accounting standards, market dynamics, and sustainability. We aim to deliver resilient portfolios that adapt across cycles.
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Partnering for long-term success
Whether you seek strategic guidance or a full delegation, we aim to build long-term partnerships with our clients. Our modular platform combines advisory, customised management, and operational support to build solutions tailored to meet your investment needs.
Our expertise
Industry-leading experience, with a global reach
For more than three decades, we have worked closely with our clients, managing insurance portfolios globally across the entire spectrum of asset classes and markets. Today, we provide industry-leading expertise in managing general account assets for insurers and support their business development across retail markets, backed by a complete set of integrated capabilities and a global network of specialists delivering bespoke advice and strategies tailored to your jurisdiction and local market environment.
Innovative and regulatory-ready solutions
Grounded in proven expertise navigating complex frameworks such as IFRS 17³ and Solvency II, we offer flexible, modular strategies that optimise capital, manage liabilities, and ensure compliance with evolving industry regulations.
Sustainability and responsible investing
Backed by a comprehensive sustainability framework, our multi-dimensional approach embeds ESG⁴ and climate considerations across solutions and asset classes. This enables us to actively support insurers’ specific commitments to responsible growth and long-term resilience.
Our range of solutions
Our broad, integrated capabilities enable us to serve insurance companies effectively, offering modular to fully integrated investment solutions, tailored to specific client objectives.
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Client Advisory
We support CIO offices in navigating complex investment challenges, providing strategic guidance on asset allocation, liability-driven investment approaches (LDI), integrating sustainability preferences, and selecting the optimal investment wrappers.
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Portfolio Management
Our tailored fixed-income, equity, and multi-asset solutions are designed to optimise outcomes, align with insurance constraints, and deliver bespoke diversification and performance across all asset classes.
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Overlay Management
We employ advanced derivatives and tactical overlays to effectively manage rates, inflation, and FX risks, safeguard against drawdowns, and enhance solvency capital requirement (SCR) efficiency—delivering comprehensive balance sheet risk management.
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Portfolio Services
We enhance operational efficiency through liquidity and collateral management, ensuring seamless support for your investment processes.
Building innovative, sustainable solutions to support client’s evolving needs
Discover our institutional solutions and expertise
Get in touch
Got a question? Our team is happy to help
[1] The 2026 Insurance Investment Outsourcing Report, Clearwater Analytics and DCS Financial Consulting, 20 May 2026
[2] BNP Paribas Asset Management, as of 30 June 2026. AXA Investment Managers integrated. Rounding to the nearest whole number.
[3] IFRS 17 = International Financial Reporting Standard. IFRS 17 replaces IFRS 4 and sets out principles for the recognition, measurement, presentation and disclosure of insurance contracts within the scope of IFRS 17.
[4] ESG = Environmental, Social and Governance. ESG assessments are based on BNP Paribas Asset Management’s proprietary methodology which integrates all three aspects of E, S & G.
Important information
Marketing communication. For professional investors only.
Past performance or achievement is not indicative of current or future performance. Performance is calculated net of fees unless otherwise stated.
Any views expressed here are those of the author as of the date of publication, based on available information, and subject to change without notice. This material does not constitute investment advice.
Investments are subject to market fluctuations and the risks inherent in investments in securities. The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial investment. There is no guarantee that the performance objective will be achieved.
This document is directed only at person(s) who have professional experience in matters relating to investments (“relevant persons”). Any investment or investment activity to which this document relates is available only to and will be engaged in only with Professional Clients as defined in the rules of the Financial Conduct Authority. Any person who is not a relevant person should not act or rely on this document or any of its contents.
Equity strategies may be exposed to other risks defined below:
MARKET RISK: This is a general risk that affects all investments. Price for financial instruments are mainly determined by the financial markets and by the economic development of the issuers, who are themselves affected by the overall situation of the global economy and by the economic and political conditions prevailing in each relevant country
EQUITY RISK: The risks associated with investments in equity (and similar instruments) include significant fluctuations in prices, negative information about the issuer or market and the subordination of a company’s shares to its bonds. Moreover, these fluctuations are often amplified in the short term. the risk that one or more companies suffer a downturn or fail to grow can have a negative impact on the performance of the overall portfolio at a given time. There is no guarantee that investors will see an appreciation in value. The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial investment.
INTEREST RATE RISK: The value of an investment may be affected by interest rate fluctuations. Interest rates may be influenced by several elements or events, such as monetary policy, the discount rate, inflation, etc.
CREDIT RISK: This is the risk that may derive from the rating downgrade of a bond issuer to which the strategies are exposed, which may therefore cause the value of the investments to go down. Strategies investing in high-yield bonds present a higher than average risk due to the greater fluctuation of their currency or the quality of the issuer.
LIQUIDITY RISK: This risk arises from the difficulty of selling an asset at a fair market price and at a desired time due to a lack of buyers.
COUNTERPARTY RISK: This risk is associated with the ability of a counterparty in a financial transaction to fulfil its commitments like payment, delivery and reimbursement.
OPERATIONAL AND CUSTODY RISK: Some markets are less regulated than most of the international markets; hence, the services related to custody and liquidation for the strategy in such markets could be more risky.
DERIVATIVES RISK: When investing in over-the-counter or listed derivatives, the fund aims to hedge and/or to leverage the yield of its position. The attention of the investor is drawn to the fact that leverage increases the volatility of the strategy.
CAPITAL RISK: The investments in the funds are subject to market fluctuations and the risks inherent in investments in securities. The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial outlay, the funds described being at risk of capital loss.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) INVESTMENT RISK: The lack of common or harmonized definitions and labels integrating ESG and sustainability criteria at EU level may result in different approaches by managers when setting ESG objectives. This also means that it may be difficult to compare strategies integrating ESG and sustainability criteria to the extent that the selection and weightings applied to select investments may be based on metrics that may share the same name but have different underlying meanings. In evaluating a security based on the ESG and sustainability criteria, the Investment Manager may also use data sources provided by external ESG research providers. Given the evolving nature of ESG, these data sources may for the time being be incomplete, inaccurate or unavailable. Applying responsible business conduct standards in the investment process may lead to the exclusion of securities of certain issuers. Consequently, the strategy’s performance may at times be better or worse than the performance of relatable funds that do not apply such standards.
This is not an exhaustive list of risks. For a full description of risks associated with each fund, please consult a client relationship manager or the global BNP Paribas Asset Management website: staging.bnpparibas-am.co.uk.