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04/06/2020
Country risk and economic studies

All the News

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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10/17/2019
Country risk and economic studies

AGRI-FOOD SECTOR OUTLOOK: IN A GLOBAL ECONOMY MARKED BY PROTECTIONIST TENSIONS, WHAT DOES THE FUTURE HOLD?

Central to the current trade tensions, notably between the USA and China, the global agri-food sector is impacted by knock on effects, notably via downward trends on the prices of key agri-food commodities, such as soybean. Coface has conducted an in-depth analysis of future trends in this market.

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10/16/2019
Country risk and economic studies

THE "MADE IN RUSSIA" STRATEGY: A LIMITED INSTRUMENT FOR ECONOMIC DIVERSIFICATION

Faced with fluctuations in hydrocarbon prices and economic sanctions from Western countries, Russia has developed a strategy that favours "Made in Russia" - but the results have remained mixed.

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10/03/2019
Country risk and economic studies

COFACE BALTICS FILIALAS NAMED ‘NATIONAL WINNER’ IN PRESTIGIOUS EUROPEAN COMPETITION

COFACE BALTICS FILIALAS has been named ‘National Winner’ in the 2019 European Business Awards, one of the world’s largest business competitions.

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09/24/2019
Country risk and economic studies

Netherlands: What is the secret of Dutch trade?

Rising protectionism in China and the United States, Brexit, contracting world trade... despite all the clouds on the horizon, the Dutch economy remains surprisingly bright.

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09/12/2019
Country risk and economic studies

Insolvencies in Central and Eastern European Countries (CEE): 2019

The Central and Eastern European region has seen an improvement in economic activity in recent years. In 2017 and 2018, GDP growth in the region rose to 4.6% and 4.3%, respectively, the highest rates since 2008.
This acceleration in the CEE economy was mainly due to the increase in domestic demand, in particular thanks to the significant fall in unemployment that benefited households. At the same time, households also benefited from strong wage growth, which had a direct impact on consumption. Beyond households’ consumption, growth was supported by an increase in public and private investment.
The aforementioned period of favourable macroeconomic environment brought effects on solvency of companies in the CEE region. GDP weighted average insolvencies dropped by 4.2% in 2018, contrary to an increase of proceedings recorded a year prior.

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