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

PARIS (Reuters) – French insurer AXA had a “limited exposure” of about 0.6 billion euros ($639.5 million) to Swiss bank Credit Suisse, 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)