French insurer AXA outlines bond exposure to SVB and US regional banks
Reuters
Published Mar 16, 2023 03:03AM ET
PARIS (Reuters) - French insurer AXA has a relatively small corporate bond exposure to Silicon Valley Bank, group Deputy CEO Frederic de Courtois told a Morgan Stanley (NYSE:MS) investor conference this week.
"On direct impact, we have 66 million corporate bond exposure to SVB. I would qualify this as an immaterial impact for us. On regional banks of the size and the type of SVB, the lightly regulated regional banks, we have about 300 million exposure on corporate bonds," he said.
The details of his March 15 presentation at the conference were made available on AXA's website. Courtois did not specify to which currency he was referring, in his comments on AXA's exposure.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.