BRUSSELS: The head of French insurer AXA was quoted last Saturday as saying that the firm could see further cuts in the value of its portfolio, but market worries over insurance companies' solvency had often been exaggerated.
In an interview with Belgium's Le Soir newspaper, AXA chief executive Henri de Castries criticised planned new European Union (EU) legislation on accounting and foresaw a bond market correction.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!