About Coface

About Coface

Coface: for trade

Coface: for trade
Expert in commercial risks

Over 70 years of experience and the most finely meshed international network have made Coface a reference in credit insurance, risk management and the global economy.
With the ambition to become the most agile, global trade credit insurance partner in the industry, Coface’s ~4,100 experts work to the beat of the world economy, supporting ~50,000 clients in building successful, growing and dynamic businesses across 200 countries.
The Group’s services and solutions protect and help companies take credit decisions to improve their ability to sell on both their domestic and export markets.


French companies in 2019: Rise in insolvencies but higher margins will allow cushioning the impact of slowing global trade

• After two years of improvement, insolvencies are on the rise and this trend should continue in 2019 (forecast of +0.8%)
• This uptrend mainly affects micro-enterprises with revenues of less than EUR 500,000
• The disappointing export performance of French companies is partly due to their choice to increase their margin rate
• This applies to most key export sectors: automotive, pharmaceuticals, aeronautics and agri-food
• But this recovery in margins would be an advantage to cushion the impact of slowing global trade in 2019

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SMEs in China: Monetary easing won’t be sufficient to reduce credit pressure

When considering risk in the Chinese economy, a lot of the discussion has focused on large State-Owned Enterprises (SOEs) or large private conglomerates. However, headwinds impacting Small and Medium Enterprises (SMEs) should not be neglected. SMEs are scrambling to access financial resources to meet their working capital and long-term expansion needs, amidst a looming trade war with the United States and rapidly deteriorating financing conditions. Given their importance in the Chinese economy, it is likely that policymakers will take steps to prevent SMEs from becoming the weak link. Several measures could be helpful: prudent fiscal stimulus, a rational approach to regulating shadow banking, and a shift to more market-based interest rates so as to reward underwriting procedures that allocate adequate risk returns.

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