Finance
French insurer AXA outlines bond exposure to SVB and US regional banks
PARIS, March 16 (Reuters) – French insurer AXA (AXAF.PA) has a comparatively small company bond publicity to Silicon Valley Financial institution (SIVB.O), group Deputy CEO Frederic de Courtois informed a Morgan Stanley investor convention this week.
“On direct affect, we have now 66 million company bond publicity to SVB. I might qualify this as an immaterial affect for us. On regional banks of the dimensions and the kind of SVB, the calmly regulated regional banks, we have now about 300 million publicity on company bonds,” he stated.
The main points of his March 15 presentation on the convention have been made out there on AXA’s web site. Courtois didn’t specify to which foreign money he was referring, in his feedback on AXA’s publicity.
Reporting by Sudip Kar-Gupta; Enhancing by Muralikumar Anantharaman
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