OCIRP

Direction is overseen by Director General Marie-Anne Montchamp, with each member institution — AG2R La Mondiale, Malakoff Humanis, Klesia, and Apicil — participating in governance committees that shape allocation policy. Specific investment officer names are not publicly disclosed. The mutual-member structure distributes decision authority across the union rather than concentrating it with a single CIO.

OCIRP is a union of mutual benefit institutions, not a subsidiary or parent entity. Member institutions AG2R La Mondiale, Malakoff Humanis, Klesia, and Apicil jointly operate OCIRP as a shared vehicle for pooling death-and-disability risk and managing associated technical reserves. Each member retains its own separate corporate identity while participating in OCIRP's collective governance.

Technical reserves are deployed primarily into French real estate, private credit, fixed-income instruments, and infrastructure-linked securities. OCIRP's immobiler portfolio includes direct commercial property holdings in Paris and mixed-use assets across France. Allocation is liability-driven, matching long-duration survivor-pension obligations rather than pursuing absolute-return targets.

OCIRP operates exclusively within France. Its member institutions are French mutual insurers, its real estate portfolio is concentrated domestically, and its reserves back liabilities denominated in euros. No international offices or cross-border investment programs are publicly documented.

OCIRP maintains the Fondation d'entreprise OCIRP, a corporate foundation that channels philanthropic capital toward social projects, survivor-support programs, and research aligned with its core mission of protecting families after the loss of a breadwinner. Governance of the foundation is separate from reserve management.

OCIRP is non-competitive by design: member institutions collectively own and govern the union, eliminating shareholder-pressure dynamics. Allocation decisions are made by committee, with AG2R La Mondiale, Malakoff Humanis, Klesia, and Apicil each represented. This creates a permanent-capital posture where investment timelines are structured entirely around liability cash flows rather than quarterly reporting.

No. OCIRP is a closed, member-governed insurance union. It does not raise external capital, market funds to third-party LPs, or function as a multi-family office. All reserves under management correspond to the pooled obligations of its four member institutions.