French insurer AXA has about $640 mln exposure to Credit Suisse

French insurer AXA has about $640 mln exposure to Credit Suisse

PARIS, March 20 (Reuters) – French insurer AXA (AXAF.PA) had a “limited exposure” of about 0.6 billion euros ($639.5 million) to Swiss bank Credit Suisse (CSGN.S), it said on Monday.

“AXA has no exposure to Credit Suisse AT1s or to Credit Suisse equity. The group has limited exposure to Credit Suisse of circa 0.6 billion euros, comprising covered bonds and senior bonds. AXA has less than 20 million euro exposure to bank AT1s,” the insurer said in an emailed statement.

($1 = 0.9383 euros)

Reporting by Sudip Kar-Gupta
Editing by David Goodman

Our Standards: The Thomson Reuters Trust Principles.

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