BOIS-COLOMBES

Coface records a very good start to the year with a net income of €68.4m, up 11.9%

Retrieved on: 
Monday, May 6, 2024
Core, Investment, Metal, Policy, Uncertainty, Depreciation, PPT, Environment, Pressure, FX, IAS, Information services, Growth, Financial services

In North America, turnover was down -6.7% at constant FX but increased by +1.6% as reported due to the integration of Mexico.

Key Points: 
  • In North America, turnover was down -6.7% at constant FX but increased by +1.6% as reported due to the integration of Mexico.
  • In this environment of continued uncertainty and modest growth outlook, Coface continues to implement its Power the Core strategic plan.
  • The first quarter of 2024 marked an excellent start to this plan, with most key performance indicators positive.
  • Coface’s results for 3M-2024 will be discussed with financial analysts during the conference call on Monday 6 May at 18.00 (Paris time).

COFACE SA launches Power the Core, its 2024-2027 strategic plan with a view to develop a global ecosystem of reference for credit risk management

Retrieved on: 
Monday, March 4, 2024
Share repurchase, Business, Intelligence, Investment, Risk management, Trade credit insurance, Culture, Growth, CSR, Data science, Human, Risk, SME, Lead, Information services, Ecosystem, Environment, TCI

COFACE SA launches Power the Core, its 2024-2027 strategic plan with a view to develop a global ecosystem of reference for credit risk management

Key Points: 
  • COFACE SA launches Power the Core, its 2024-2027 strategic plan with a view to develop a global ecosystem of reference for credit risk management
    Power the Core will build upon the successes of the previous strategic plans.
  • We have demonstrated that our businesses complement each other, allowing for the development of a credit risk management ecosystem of reference to increase our value proposition to our customers.
  • Our new plan Power the Core aims at building upon our strengths and our employees’ commitment and expertise in order to accelerate our transformation.
  • We will in particular deliberately invest in data and technology, for our Trade Credit Insurance and our Business Information services.

COFACE SA: FY-2023 results: net income at €240.5m and proposed dividend at €1.30 per share

Retrieved on: 
Tuesday, February 27, 2024
Investment, Growth, IAS, Metal, COVID, Policy, Employment, PPT, Annual, Environment, FX, Depreciation, Financial services

In North America, turnover increased +5.6% at constant FX and +2.1% as reported, driven by the return in client activity and rising commissions.

Key Points: 
  • In North America, turnover increased +5.6% at constant FX and +2.1% as reported, driven by the return in client activity and rising commissions.
  • The combined ratio net of reinsurance was 64.3% for the year, improved by 3.3 ppts year on year.
  • In total, net income (group share) stood at €240.5m, stable compared to 2022 under IFRS 17, of which €50.8m in Q4-23.
  • This change was mainly due to the positive net income of €240.5m, the payment of the dividend (-€227.0m) and the increase in unrealised capital gains (€25.0m).

Coface records excellent income of €189.7m in the first nine months amidst slowing inflation and claims normalisation. Annualised ROATE at 14.1%

Retrieved on: 
Tuesday, November 14, 2023
Pressure, Richard Roat, Policy, Metal, Investment, IAS, Depreciation, PPT, FX, Growth, Environment, Financial services, Reinsurance, Insurance, Clothing, Retail, Mediterranean Sea

In North America, turnover increased +6.9% at constant FX and +4.0% as reported, driven by the return in client activity and rising commissions.

Key Points: 
  • In North America, turnover increased +6.9% at constant FX and +4.0% as reported, driven by the return in client activity and rising commissions.
  • This reflects an increased claims frequency since H1-21, with the number of claims nearing pre-COVID levels.
  • The annualised return on average tangible equity (RoATE) was 14.1% at 30 September 2023, mainly due to the improvement in underwriting income.
  • Coface is actively devising its next strategic plan, which will be presented to investors on 5 March 2024.

COFACE SA: Moody's upgrades Coface's main operating company to A1 IFSR, stable outlook

Retrieved on: 
Thursday, September 28, 2023
Heart, Insurance, Moody's Investors Service, Culture, Risk management, Compagnie Française d'Assurance pour le Commerce Extérieur, Risk, Information services, COFACE, AMF, Weather, Bank, Bonding

COFACE SA: Moody's upgrades Coface's main operating company to A1 IFSR, stable outlook

Key Points: 
  • COFACE SA: Moody's upgrades Coface's main operating company to A1 IFSR, stable outlook
    The rating agency Moody’s, on 28th September 2023, has upgraded the financial strength rating (Insurance Financial Strength Rating – IFSR) for Coface to A1 from A2.
  • The agency has also changed the outlook for Coface to stable from positive.
  • This rewards Coface teams’ work and recognizes the high level of service offered to our clients.
  • The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

Coface confirms its very good start to the year with first-half net income of €128.8m. Annualised return on tangible equity at 14.3%

Retrieved on: 
Thursday, August 10, 2023
Insurance, Richard Roat, Policy, Compagnie Française d'Assurance pour le Commerce Extérieur, Government, Investment, FX, Depreciation, Growth, IAS, Financial services, Aquaculture, Clothing, Silviculture, Mediterranean Sea

In North America, turnover increased +7.1% at constant FX and +7.2% as reported, driven by client activities and a high retention rate.

Key Points: 
  • In North America, turnover increased +7.1% at constant FX and +7.2% as reported, driven by client activities and a high retention rate.
  • In total, net income (group share) stood at €128.8m, down -4.4% compared to H1-22, of which €67.7m in Q2-23.
  • The annualised return on average tangible equity (RoATE) was 14.3% at 30 June 2023, mainly due to the improvement in underwriting income.
  • Coface’s results for H1-2023 will be discussed with financial analysts during the conference call on 10 August 2023 at 18.00 (Paris time).

Coface records a very good start to the year with a net income of €61.2m

Retrieved on: 
Thursday, May 25, 2023
Insurance, Richard Roat, Policy, Compagnie Française d'Assurance pour le Commerce Extérieur, COVID, Government, Investment, FX, Growth, IAS, Credit, Bankruptcy, Financial services, Aquaculture, Mediterranean Sea

In North America, turnover increased +11.9% at constant FX and +15.8% as reported, driven mainly by improved retention.

Key Points: 
  • In North America, turnover increased +11.9% at constant FX and +15.8% as reported, driven mainly by improved retention.
  • This change is mainly due to positive net income of €61.2m, and positive adjustments to the fair value of investments (€24.2m).
  • Against this backdrop, the number of corporate bankruptcies continued to rise, albeit at a more moderate pace than expected.
  • Coface’s results for 3M-2023 will be discussed with financial analysts during the conference call on Thursday 25 May at 18.00 (Paris time).

Coface SA: FY-2022 results: record net income at €283.1m and 80% pay-out ratio

Retrieved on: 
Thursday, February 16, 2023
Insurance, Government, FX, Compagnie Française d'Assurance pour le Commerce Extérieur, Investment, IAS, Richard Roat, CO2, Pressure, Annual, Policy, Growth, Depreciation, Financial services, Pharmaceutical industry, Reinsurance, Cryptocurrency, Holding company, Life insurance

The combined ratio, net of reinsurance, stood at 64.9% for the year, +0.3 ppt compared with 2021 (and up 10.4 ppts excluding 2021 government schemes impact).

Key Points: 
  • The combined ratio, net of reinsurance, stood at 64.9% for the year, +0.3 ppt compared with 2021 (and up 10.4 ppts excluding 2021 government schemes impact).
  • The combined ratio, net of reinsurance, for Q4-22 stood at 68.2%, down by 14.8 ppts year-on-year, but up 8.6 ppts vs. Q3-22.
  • Operating income for 2022 was €413.5m, up +32.2%, mainly due to revenue growth and a still low loss ratio.
  • In total, net income (group share) stood at €283.1m, up +26.5% compared to 2021, of which €54.7m in Q4-22.

Coface acquires North America data analytics boutique Rel8ed

Retrieved on: 
Monday, January 30, 2023
Data science, Insurance, AMF, COFACE, Acquisition, Innovation, Database, Big data, Information services, Business, Risk, Retail, Risk management, Compagnie Française d'Assurance pour le Commerce Extérieur

Coface announces today the acquisition of North American data analytics boutique Rel8ed.

Key Points: 
  • Coface announces today the acquisition of North American data analytics boutique Rel8ed.
  • The acquisition brings new, rich data sets and analytics capabilities, which will benefit Coface trade credit insurance as well as the company’s business information customers and teams.
  • “Over the last year, as we partnered with Rel8ed, it has demonstrated a truly distinct set of capabilities to Coface and our clients, in the North America market, where deep insights into mid-market and small businesses are difficult to acquire,” said Oscar Villalonga, CEO for Coface North America.
  • In 2019, Coface established a data lab in Paris to exploit data science technologies in order to optimize its products, its risk assessments, and develop new services.

Coface reports a new record result of €84.0m in Q3-2022. Annualised return on tangible equity at 16.4%

Retrieved on: 
Thursday, October 27, 2022
FX, Risk management, COVID-19, Depreciation, Growth, Group, Policy, Income, NPS, Information services, Ronald Clair Roat, PPT, Insurance, Financial services, Renewable energy, Real estate, Compagnie Française d'Assurance pour le Commerce Extérieur

In Mediterranean and Africa, a region driven by Italy and Spain, turnover grew by +17.2% and by +15.4% at currentFX.

Key Points: 
  • In Mediterranean and Africa, a region driven by Italy and Spain, turnover grew by +17.2% and by +15.4% at currentFX.
  • The annualised return on average tangible equity (RoATE) was 16.4% at 30 September 2022, mainly due to the improvement in underwriting income.
  • Coface is continuing to invest in expanding its service activities such as information services (growth of +15.6%) and factoring (+13.0%).
  • Cofaces results for 9M-2022 will be discussed with financial analysts during the conference call on Thursday27October at 18.00 (Paris time).