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

The logo of French Insurer Axa is seen outside a building in Paris
The logo of French Insurer Axa is seen outside a building in Paris, France, February 4, 2022. REUTERS/Sarah Meyssonnier

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

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