Insurance group Axa is to begin offering loans to mid-cap companies as it looks to diversify its investment portfolio.
The loans will initially be made to mid-cap French corporates and will be co-financed with Société Générale, which will assist with the risk analysis.
Axa is in discussions with other European banks, including Crédit Agricole, to extend the programme to other countries. Switzerland and Germany are seen as potential target markets, according to the insurer.
The scheme will provid