Insured Credit

Aegon AM’s Insured Credit strategy provides investors access to de-risked debt assets whilst preserving an attractive yield and return on capital.

It offers investors distinct benefits including:


Low credit risk

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High yield pick-up

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Strong diversification profile

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Responsible InvestingMicrosoftTeams-image (11).png

Attractive Capital Treatment

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Why invest in Insured Credit?

Low risk assets
The search for yield
Yield optimisation
Diversified Exposure
Capital efficiencies
Strong track record

Overview of our key Insured Credit strategies

At Aegon AM we offer differing strategies to suit various investor preferences for yield and portfolio objectives. Past performance does not predict future returns.


  Insured Credit Insured Infrastructure
Rating AA/A AA/A
Yield (in Euro) Swaps + 225-250bps Swaps + 200bps

Up to 15 years

5yr WAL expected / 2.5-5yr duration expected

Up to 15 years

5yr WAL expected / 5yr duration expected
Investment Vehicle

Luxembourg RAIF


Luxembourg RAIF

Capital Charge Low Low

Double recourse

Super Senior Security

Double recourse

Super Senior Security

Typical Recovery Rate

Very High Very High

ESG Integration

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Sustainable Impact


Matching (fixed rate)


Source: Aegon AM. As at March 2024.

Insured Credit and sustainable investing

One of the main benefits the Insured Credit strategy is that it offers investors the ability to select assets with strong social, environmental and sustainable characteristics to satisfy their ESG needs. There are scalable opportunities where the underlying collateral has (strong) alignment with United Nations’ Social Development Goals (SDG’s) particularly within emerging markets.


Aegon AM’s Insured Credit team works closely with Aegon AM’s Responsible Investment team to assess the ESG risks and sustainability characteristics of each transaction.

Example projects funded via Insured Credit investments include:

  • Hydro power plant
  • Intelligent road traffic management systems
  • Construction of healthcare facilities
  • Water sanitation
  • Communication infrastructure
  • Electrification network upgrades
  • Airport development
  • Road infrastructure