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05/26/2020
Country risk and economic studies

All the News

05/19/2020
Corporate news

Coface Baltics warns Latvian residents about fraudsters offering fake loan insurance

Credit risk insurance company Coface Baltics has received information that fraudsters have approached private individuals residing in Latvia on behalf of company’s name by offering them fake insurance and loan services. The company warns residents to be vigilant and precautious as this might be a fraud scheme.

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04/29/2020
Country risk and economic studies

COVID-19 swings the spotlight back onto emerging countries’debt

While the focus has mainly been on China, Europe and the USA so far, the consequences of the Coronavirus pandemic are likely to be even more severe in emerging countries.

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04/23/2020
Corporate news

First quarter shows solid operational performance but is impacted by the initial effects of the COVID-19 crisis

Xavier Durand, Coface CEO, commented: “The coronavirus crisis presents an unprecedented shock for our economies and for the credit insurance industry. First and foremost, I am very proud of our teams’ successful efforts to continue supporting our customers despite the containment measures (...)"

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04/14/2020
Country risk and economic studies

Can China shield its economy from the impact of COVID-19?

Due to the current coronavirus (COVID-19) pandemic and its impact on the global economy, it is unlikely that China will be able to achieve its 2020 growth target. Coface forecasts a growth rate of 4% for the Chinese economy in 2020.

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04/06/2020
Country risk and economic studies

Coface Barometer: COVID-19 - heading towards a sudden global surge in business insolvencies

At first, the COVID-19 epidemic in China only affected a limited number of value chains – but it has since turned into a global pandemic. Its repercussions have created a double shock – supply and demand – that is affecting a large number of industries in all over the world.

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04/01/2020
Corporate news

COFACE SA: Announcement regarding the dividend

COFACE SA’s Board of Directors met on 1st April 2020 to look at the group’s activity in the current economic environment.

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03/31/2020
Corporate news

Fitch places Coface on Rating Watch Negative

The rating agency Fitch has, on 31 March 2020 placed Coface on Rating Watch Negative. This includes Coface’s Insurer Financial Strength (IFS) rating.

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03/30/2020
Country risk and economic studies

Covid-19, A triple shock for the world economy

In this webinar focusing on the global impact, our Chief Economist Julien Marcilly explain what can already be expected from this health and economic crisis on a global scale.

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03/27/2020
Corporate news

Review of the credit insurance sector by Moody's

The rating agency Moody's confirmed Coface’s Insurance Financial Strength (IFS) A2 rating on 27 March 2020. The outlook for this rating has been changed to negative.

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03/05/2020
Country risk and economic studies

POLAND PAYMENT SURVEY: REDUCED PAYMENT DELAYS, BUT A CHALLENGING OUTLOOK

Despite the economic slowdown, Coface’s latest survey on business payments in Poland shows that payment delays have systematically shortened since 2017 - but the impact of the coronavirus epidemic on the Polish economy remains to be seen.

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02/25/2020
Country risk and economic studies

COFACE CAPITALIZES ON ITS STRATEGIC SUCCESSES AND LAUNCHES BUILD TO LEAD, ITS NEW 2023 STRATEGIC PLAN

Build to Lead will broaden and deepen the business and cultural transformation initiated in Fit to Win. In particular the new plan will: Continue to strengthen risk management and underwriting discipline; Improve service, and commercial and operational efficiency; Invest in select growth initiatives in trade credit insurance as well as in specialty lines; Maintain balance sheet strength.

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02/05/2020
Country risk and economic studies

FY-2019 RESULTS: RECORD NET INCOME UP 20% AT €146.7M AND PROPOSED DIVIDEND PER SHARE OF €1.0

We have completed our Fit to Win plan with record results, despite a riskier economic environment. Our net income is up by 20%, to €147m. The tangible return on equity comes in at 9.1%, excluding non-recurring items. Record retention and a pick-up in new business boosted growth to 5.9%. Finally, in terms of capital, the French regulator authorised our usage of our internal model to calculate the solvency requirement. Our solvency ratio stands at 190%, up 21 points, which allows us to propose a payment of a dividend of €1.0 per share to the Shareholders Annual General Assembly.

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02/04/2020
Country risk and economic studies

POLITICAL AND ENVIRONMENTAL RISKS ARE THE MAIN THREATS FACING BUSINESSES IN 2020

As Coface launches the 2020 edition of its Country & Sector Risks Handbook, Chief Economist Julien Marcilly today presents the main threats for the global economy in 2020 at the Coface Country Risk Conference in Paris. The US-China trade agreement will not be enough to rekindle international trade

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01/23/2020
Country risk and economic studies

TURKEY PAYMENT SURVEY 2019: BETTER PICTURE IN PAYMENT TERMS BUT COMPANIES ARE STILL CAUTIOUS REGARDING ECONOMIC PROSPECTS

Following the economic recession during the second half of 2018, the private sector remains mixed in terms of the economic outlook.

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12/20/2019
Country risk and economic studies

AM BEST AFFIRMS A (EXCELLENT) RATING TO COFACE NORTH AMERICA INSURANCE COMPANY, WITH STABLE OUTLOOK

Rating agency AM Best, on 17 December 2019, has affirmed Coface North America Insurance Company’s ‘A’ (Excellent) Insurer Financial Strength (IFS) rating, with a stable outlook.

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12/10/2019
Country risk and economic studies

BUSINESS FAILURES IN FRANCE ARE LESS FREQUENT, BUT OF A LARGER SIZE

While the number of companies facing corporate insolvency has decreased since the beginning of the year, their cost has increased, both financially and in terms of the number of jobs affected. After a difficult first quarter, marked by the repercussions of the “yellow vests” movement, the number of corporate insolvencies since the beginning of the year in France is set to decline for the fourth consecutive year. However, Coface expects a slight rebound in insolvencies in 2020 (+0.9%), mainly due to the expected slowdown in the construction sector, which was largely driven by public works in 2019 in the run-up to the municipal elections.

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12/10/2019
Country risk and economic studies

THE GLOBAL AUTOMOTIVE INDUSTRY AND ENHANCED REGULATIONS: A VERY STEEP PATH AHEAD

The global auto sector is facing several challenges including enhanced and stricter regulations against environmental risks in the context of a slowdown of the global economy. Car sales are on a downward trend, as uncertainty bites.

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10/25/2019
Country risk and economic studies

2019 SURVEY ON COMPANY PAYMENTS IN GERMANY: TURN OF THE TIDE

85% of companies report longer payment terms in 2019 vs 2017

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10/21/2019
Country risk and economic studies

COFACE INTRODUCES CRAFT, A NEW FORECASTING TOOL TO ESTIMATE GROWTH IN THE EUROZONE

Recession or slight decline, CRAFT provides the keys to the slowdown in the major economies of the Eurozone.

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10/17/2019
Country risk and economic studies

COFACE BAROMETER: GENERAL SLOWDOWN IN THE GLOBAL ECONOMY DESPITE CENTRAL BANKS’ ACTIONS

With business morale being affected by a summer marked by a multiplication of areas of political uncertainty around the world, it seems likely that 2020 will be a year of economic decline.

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