Zurich Financial to Retain Its Italian, Spanish Bonds, F&W Says
Zurich Financial Services AG (ZURN) will retain its Italian and Spanish bond holdings, Finanz und Wirtschaft reported, citing an interview with Martin Senn, the Swiss insurer’s chief executive officer.
A complete default is unlikely in either country, the newspaper cited Senn as saying. Zurich Financial cut its Italian bond holdings by about 20 percent to $8 billion in June and July and also holds $18 million of Greek debt, the report said.
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