Coface welcomes Fitch’s decision to affirm its AA- rating
Fitch Ratings issued, on September 29th 2016, a press release on Coface in which the agency affirms the Group’s Insurer Financial Strength (IFS) rating at 'AA-', Outlook Stable.
Fitch highlights that this affirmation reflects Coface’s “strong business profile and geographical diversification in credit- insurance and its solid capital position”.
Reiterating its view on Coface's risk profile, considered “adequate”, Fitch underlined that the Group “benefits from (..) flexibility to adjust the terms and conditions of its policies and largely focuses on the short-tail business.”
This affirmation follows the launch of Coface’s new 3-year strategic plan Fit to Win.
In this context, “Fitch expects that Coface maintains a good underwriting performance over the cycle, resulting from the group's stricter underwriting guidelines and focus on profitability versus growth”.