AXA's Exposure to French Political Volatility Is Limited Despite Share Hit -- Market Talk

Dow Jones

Aug 29

0601 GMT - AXA's recent share-price fall is overdone and offers an opportunity, Berenberg says in a research note after concerns about France's budgetary constraints sank the stocks of companies exposed to the country's government bonds. The insurer's balance-sheet exposure to French government bonds is just 13% of its overall government bond exposure, which is relatively limited, analyst Michael Huttner writes. AXA also has very limited sensitivity to Eurozone sovereign spreads and limited exposure to a potential French corporate-tax increase because only a quarter of its earnings--and an even lower proportion of its taxable income--relate to its operations in its home country. "With its strong solvency and broad geographic diversification, it is well-placed to face any challenges," he notes. Shares are down 6.3% in the week to date. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

August 29, 2025 02:01 ET (06:01 GMT)

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The insurer's balance-sheet exposure to French government bonds is just 13% of its overall government bond exposure, which is relatively limited, analyst Michael Huttner writes. AXA also has very limited sensitivity to Eurozone sovereign spreads and limited exposure to a potential French corporate-tax increase because only a quarter of its earnings--and an even lower proportion of its taxable income--relate to its operations in its home country. \"With its strong solvency and broad geographic diversification, it is well-placed to face any challenges,\" he notes. Shares are down 6.3% in the week to date. 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The insurer's balance-sheet exposure to French government bonds is just 13% of its overall government bond exposure, which is relatively limited, analyst Michael Huttner writes. AXA also has very limited sensitivity to Eurozone sovereign spreads and limited exposure to a potential French corporate-tax increase because only a quarter of its earnings--and an even lower proportion of its taxable income--relate to its operations in its home country. \"With its strong solvency and broad geographic diversification, it is well-placed to face any challenges,\" he notes. Shares are down 6.3% in the week to date. (elena.vardon@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  August 29, 2025 02:01 ET (06:01 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4117","symbol_name":"多元化保险","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2563401563","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2563401563","pubTimestamp":1756447260,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0601 GMT - AXA's recent share-price fall is overdone and offers an opportunity, Berenberg says in a research note after concerns about France's budgetary constraints sank the stocks of companies exposed to the country's government bonds. The insurer's balance-sheet exposure to French government bonds is just 13% of its overall government bond exposure, which is relatively limited, analyst Michael Huttner writes. AXA also has very limited sensitivity to Eurozone sovereign spreads and limited exposure to a potential French corporate-tax increase because only a quarter of its earnings--and an even lower proportion of its taxable income--relate to its operations in its home country. \"With its strong solvency and broad geographic diversification, it is well-placed to face any challenges,\" he notes. Shares are down 6.3% in the week to date. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4117":"多元化保险","AXAHY":"AXA"},"translate_title":"尽管股价受到打击，安盛对法国政治波动的影响有限——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AXAHY":0.9},"content_text":"0601 GMT - AXA's recent share-price fall is overdone and offers an opportunity, Berenberg says in a research note after concerns about France's budgetary constraints sank the stocks of companies exposed to the country's government bonds. The insurer's balance-sheet exposure to French government bonds is just 13% of its overall government bond exposure, which is relatively limited, analyst Michael Huttner writes. AXA also has very limited sensitivity to Eurozone sovereign spreads and limited exposure to a potential French corporate-tax increase because only a quarter of its earnings--and an even lower proportion of its taxable income--relate to its operations in its home country. \"With its strong solvency and broad geographic diversification, it is well-placed to face any challenges,\" he notes. Shares are down 6.3% in the week to date. (elena.vardon@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  August 29, 2025 02:01 ET (06:01 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}