According to a statement made on Monday, the French insurer AXA had a “small exposure” to the Swiss bank Credit Suisse of roughly 0.6 billion euros ($639.5 million).
“Neither the AT1s nor the equity of Credit Suisse is exposed to AXA. The group has a small amount of exposure to Credit Suisse, consisting of covered bonds and senior bonds, totaling about 0.6 billion euros. AXA has exposure to bank AT1s worth less than 20 million euros “In a statement sent by email, the insurer said.
