01/14/2021
Corporate news, Country risk and economic studies
This year at our Country Risk Conference: 3 round tables to embrace the new business risks in a post-covid world.
Read More
11/19/2020
Country risk and economic studies
In 2020, Coface has launched the 12th edition of the Top 500 companies in Central and Eastern Europe - Coface CEE Top 500.
Read More
10/26/2020
Corporate news
Coface releases its 9M-2020 Financial Results: A strong balance sheet and positive operational KPIs allow to launch share buyback programme
Read More
10/01/2020
Country risk and economic studies
In addition to our Q3 2020 Country & Sector Risk updates, Coface's Political Risk Index highlights a dual trend: a decrease in the risk of conflict at a global level, but an increase in the risk of political and social fragility.
Read More
09/24/2020
Country risk and economic studies
German companies want to cash in as early as possible, according to the fourth edition of Coface’s survey on corporate payment experience in Germany, conducted in July and early-August 2020, with 753 participating companies located in Germany.
Read More
07/29/2020
Corporate news
Turnover for the first semester: €725m, down 0.6% at constant FX and perimeter:
Client retention and new business achieve record levels, with a positive net production of €33m.
First effects of re-pricing are now visible (+0.2%).
Revenues from services progress by 7%, including information services up by 13%.
Client activities continue to slowdown – a trend expected to continue over the following quarters.
Read More
07/23/2020
Country risk and economic studies
Foreign trade and inclusion in supply chains had already increased in recent years, supported by EU membership by most CEE (Central and Eastern European) countries in 2004.
Read More
07/16/2020
Country risk and economic studies
The COVID-19 pandemic has triggered a mobility crisis, mainly because of physical distancing requirements and the necessity to avoid confined spaces, to limit the virus’propagation. This has had a disastrous impact on the global transport sector, with air passenger transport being the most affected segment.
Read More
07/09/2020
Country risk and economic studies
As the COVID-19 epidemic hits the United States very hard, Coface forecasts in its baseline scenario that the country's GDP will contract by 5.6% in 2020, before rebounding by 3.3% in 2021. Nevertheless, this forecast is threatened by the resurgence of the outbreak in several states, which are already pausing or even reversing the resumption of activity after the extensive lockdown of April.
Read More
07/06/2020
Corporate news
Coface announces the closing of the acquisition of GIEK Kredittforsikring AS, a company that manages a short-term export credit insurance portfolio.
Read More
07/01/2020
Country risk and economic studies
After a 2019 that was dominated by trade tensions between the United States and China, Coface has observed an incipent recovery in Asia (excluding China), supported by supply chain shifts and additional liquidity from the US Federal Reserve.
Read More
06/23/2020
Country risk and economic studies
Although the second quarter of 2020 is shaping up to be the most challenging period of the year, there are now good reasons to think that the road to recovery will be long and arduous. Despite immediate tax deferrals, liquidity guarantees, it is likely that many firms will find themselves in difficulty.
Read More
06/16/2020
Country risk and economic studies
Many European countries have temporarily amended the legal framework of default procedures to help companies deal with the crisis, postponing growth of insolvencies in Europe.
Read More
06/08/2020
Country risk and economic studies
Coface forecasts that the recession in 2020 (a 4.4% drop in world GDP) will be stronger than that of 2009. Despite the recovery expected in 2021 (+5.1%) – assuming there is no second wave of the coronavirus pandemic – GDP would remain 2 to 5 points lower in the United States, the eurozone, Japan, and the United Kingdom, when compared to 2019 levels.
Read More
06/05/2020
Country risk and economic studies
In the context of weaker activity in China due to the health crisis, Coface’s latest survey on business payments in China shows a deterioration in payment behaviour in 2019.
66% of surveyed companies reported payment delays. The length of payment delays remained stable at 86 days in 2019. Nevertheless, sectors that have been hit the most by lockdown measures will have to delay payments in order to survive in 2020 and the number of corporate insolvencies should increase.
Read More
05/26/2020
Country risk and economic studies
Early 2020 marked by a sudden interruption in world trade, hampered by a global recession and soaring uncertainty
Read More
05/19/2020
Corporate news
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.
Read More
04/29/2020
Country risk and economic studies
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.
Read More
04/23/2020
Corporate news
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 (...)"
Read More
04/14/2020
Country risk and economic studies
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.
Read More
04/06/2020
Country risk and economic studies
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.
Read More
04/01/2020
Corporate news
COFACE SA’s Board of Directors met on 1st April 2020 to look at the group’s activity in the current economic environment.
Read More
03/31/2020
Corporate news
The rating agency Fitch has, on 31 March 2020 placed Coface on Rating Watch Negative. This includes Coface’s Insurer Financial Strength (IFS) rating.
Read More
03/30/2020
Country risk and economic studies
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.
Read More
03/27/2020
Corporate news
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.
Read More
03/05/2020
Country risk and economic studies
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.
Read More
02/25/2020
Country risk and economic studies
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.
Read More
02/05/2020
Country risk and economic studies
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.
Read More
02/04/2020
Country risk and economic studies
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
Read More
01/23/2020
Country risk and economic studies
Following the economic recession during the second half of 2018, the private sector remains mixed in terms of the economic outlook.
Read More
12/20/2019
Country risk and economic studies
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.
Read More
12/10/2019
Country risk and economic studies
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.
Read More
12/10/2019
Country risk and economic studies
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.
Read More
10/25/2019
Country risk and economic studies
85% of companies report longer payment terms in 2019 vs 2017
Read More
10/21/2019
Country risk and economic studies
Recession or slight decline, CRAFT provides the keys to the slowdown in the major economies of the Eurozone.
Read More
10/17/2019
Country risk and economic studies
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.
Read More
10/17/2019
Country risk and economic studies
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.
Read More
10/16/2019
Country risk and economic studies
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.
Read More
10/03/2019
Country risk and economic studies
COFACE BALTICS FILIALAS has been named ‘National Winner’ in the 2019 European Business Awards, one of the world’s largest business competitions.
Read More
09/24/2019
Country risk and economic studies
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.
Read More
09/12/2019
Country risk and economic studies
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.
Read More
09/05/2019
Country risk and economic studies
The international credit insurance company presents its eleventh annual study on the biggest 500 companies in Central and Eastern Europe – the Coface CEE Top 500. It ranks businesses by their turnover and additionally analyses further facts such as the number of employees, the framework of the companies, sectors and markets as well as the new Coface company credit assessments. The economic development of the CEE Top 500 is representative of the market trend in the entire region.
Read More
08/06/2019
Country risk and economic studies
Coface delivers record first semester in riskier economy:
Net income up 25% at €78.5m, RoATE[1] at 9.6% and Partial Internal Model submitted
Read More
08/01/2019
Country risk and economic studies
Despite improving economic performances across the Gulf Cooperation Council (GCC), monetary and financial conditions remain tighter compared with before 2015. Access to financing remains one of the key issues for companies, particularly for small- and medium-sized enterprises (SMEs). Loan growth in the region has recovered somewhat thanks to higher oil prices, but it remains below its historical average.
Read More
07/10/2019
Country risk and economic studies
Coface’s 2019 Asia Corporate Payment Survey covered over 3,000 companies in nine economies (Australia, China, Hong Kong, India, Japan, Malaysia, Singapore, Thailand and Taiwan). 63% of companies surveyed stated that they experienced payment delays in 2018. The length of payment delays increased to 88 days on average in 2018, compared to 84 days in 2017. The length of payment delays was highest in China, Malaysia and Singapore; as well as the energy, construction and ICT sectors.
Read More
06/26/2019
Country risk and economic studies
The natural gas market is booming and will increase in the medium term, but many factors point to a less promising future.
Read More
06/19/2019
Country risk and economic studies
Coface's fourth survey on payment terms in Morocco shows a situation that remains worrying despite a slight improvement.
Read More
06/18/2019
Country risk and economic studies
While the yellow vests movement did have a strong impact on corporate insolvencies at the beginning of the year, the decline in mobilization and the resilience of economic growth had a positive impact on the health of French companies in March and April.
Read More
05/09/2019
Country risk and economic studies
Counterfeiting, e-commerce, Chinese consumers importance, even if it is generally relatively spared by recessions, the luxury market must adapt to a profoundly changing economy if it does not want to lose its exceptional status.
Read More
04/18/2019
Country risk and economic studies
Signs of a slowing global economy continue to accumulate
2019 - the number of insolvencies will increase in two-thirds of countries (+3% in Western Europe)
The chemical industry in Europe and North America is suffering from fewer opportunities in the automotive sector
Improvements in assessments are concentrated in the Middle East, including Saudi Arabia's upgrade (B)
Read More
04/15/2019
Corporate news
Coface announces today the acquisition of SID - PKZ, the market leader in credit insurance in Slovenia with a high market share. As Coface has acquired all SID - PKZ shares, the business will operate under the new brand name Coface PKZ. The acquisition supports Coface’s strategy of profitable growth in Central & Eastern Europe region.
Read More
04/09/2019
Country risk and economic studies
When Narendra Modi ran for Prime Minister in 2014, he pledged to boost the competitiveness of India’s industrial sector to promote growth. Modi will be running for president again in India’s general elections between 11 April and 19 May. The economy is in a better position than it was in 2014, but many of the structural fragilities that Modi inherited continue to afflict India today and a mixed track record in terms of economic reforms has dampened enthusiasm for Modi.
Read More
04/02/2019
Country risk and economic studies
Local companies set to benefit from Coface’s expertise in risk prevention and payment protection.
Read More
04/02/2019
Country risk and economic studies
• 2019 will be marked by high volatility in the global oil market
• Brent crude oil price to average USD 65 in 2019, according to Coface estimates
• In Mexico, the financial stress already faced by Pemex might not be contained
• Brazil oil policy is expected to have positive knock-on effect in the medium term
Read More
03/22/2019
Country risk and economic studies
2018 proved to be a relatively challenging year for China. Growth slowed to 6.6% and is expected to decline further in 2019 (6.2%, according to Coface forecasts). As a result, 59% of the 1500 Chinese companies that participated in Coface’s survey believe the economy will not improve in 2019, the worst since 2003. The situation relating to payment delays also deteriorated. 62% of companies in China experienced payment delays in 2018, with 40% of respondents reporting that they recorded an increase in payment delays, much higher than the 29% registered in 2017.
Read More
03/15/2019
Country risk and economic studies
In 2018, Poland reached a peak in economic recovery with a GDP growth of 5.1%, the highest level of economic expansion since 2011.Despite this positive macroeconomic environment, payment delays appear to be standard practice on the Polish market. Nearly 99% of the Polish companies surveyed by Coface experience payment delays. Only one out of 100 companies reports receiving payments on time.
Read More
02/26/2019
Country risk and economic studies
• Stagflation becoming a reality, exports are a key-source of revenues for economy, especially in the automotive sector
• Exporters are flexible; government support is vital for exporters to gain new market shares
Read More
02/11/2019
Country risk and economic studies
Turnover: €1,385m, up 4.6% at constant scope and FX
Net loss ratio at 45.1%, an improvement of 6.2ppts; annual net combined ratio at 79.6%
Net income (group share) of €122.3m; of which €24.1m in Q4-2018. Annualised RoATE[2] at 7.7%
Solvency ratio estimated to have risen to ~169%[3], above target range (140%-160%)
Coface continues to actively manage its capital base
Read More
02/05/2019
Country risk and economic studies
Two pitfalls for businesses in 2019: the economic downturn and political risks.
Coface will be sharing its vision of the major trends in the world economy in 2019 with businesses at its annual conference on country and sectoral risks.
Read More
01/29/2019
Corporate news
Coface continues its innovation strategy expanding its online offer to Business Finder, an interactive online tool that helps clients to easily find new business partners. With this service, Coface enables its clients to select new target groups from the largest database in Central and Eastern Europe (CEE) with 30 million companies.
Read More
11/27/2018
Country risk and economic studies
• 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
Read More
11/19/2018
Country risk and economic studies
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.
Read More
11/12/2018
Country risk and economic studies
European wind energy manufacturers are likely to keep leading position for next 10 years
Read More
10/25/2018
Country risk and economic studies
• Thanks to its strategic location, the United Arab Emirates (UAE) plays a central role in regional exports and re-exports, as demonstrated by its various economic and cooperation agreements with other countries.
• Further involvement in the Belt and Road Initiative[1] represents both a risk and an opportunity for the UAE.
• However, the country is still only halfway through its diversification process, and is yet to be integrated in global value chains.
Read More
10/10/2018
Corporate news
Global credit insurer to make risk indicators available to a network of 1.5 million businesses in 190 countries.
Read More
10/09/2018
Country risk and economic studies
The net number of protectionist measures currently in place throughout the world is 2.5 times higher than in 2010. In most advanced economies (such as the US, Western Europe, Japan, Canada and Australia) and in many of the large emerging countries (Brazil, Argentina and India), the share of imports impacted by protectionist measures is higher than imports benefitting from favourable measures. Nevertheless, several South East Asian countries (such as Vietnam, the Philippines and Cambodia), as well as Russia and a number of Latin American countries (including Mexico, Columbia and Peru) are not following this trend.
Read More
10/09/2018
Country risk and economic studies
Some emerging economies become increasingly vulnerable
• Higher oil prices and continued capital outflows from emerging markets mark the third quarter of 2018
• A wave of sectorial downgrades in Turkey and Argentina
• Risks improve in Central Europe and the CIS
• Downgrades for Pakistan and Nicaragua, mainly due to political risks
Read More
09/28/2018
Country risk and economic studies
Despite economic acceleration in the region, insolvencies increased by +6.4% in 2017
Read More
09/05/2018
Country risk and economic studies
The international credit insurance company Coface presents its tenth annual study on the biggest 500 companies in Central and Eastern Europe – the Coface CEE Top 500. It ranks the businesses by their turnover and additionally analyses further facts such as the number of employees, the framework of the companies, sectors and markets as well as the new Coface company credit assessments. The trend of the CEE Top 500 reflects developments in the region.
Read More
09/05/2018
Country risk and economic studies
In 2017, the Baltic States benefited from a rebound in external demand. All countries recorded a high growth rate of exports. However, the ongoing increase in household consumption and a revival of investments made domestic demand the main driving force of these economies. The results of the largest companies in the region underline this positive economic development. Overall turnover increased by 9.8%. Net profits likewise developed well, posting a rise of 25.3% for all top 50 companies.
Read More
06/15/2018
Corporate news
Private limited liability company UAB Coface Baltics Services is implementing a project “Development of employee competencies at UAB Coface Baltics Services” No 09.4.3-ESFA-T-846-01-0035 under the measure “Human resources Invest LT+”.
Read More
04/26/2017
Corporate news
Net income at €7.3m driven by an improvement in net loss ratio. Fit to Win progressing as planned.
Read More
04/13/2017
Corporate news
The Registration Document of COFACE SA for 2016 (Document de référence 2016 in French) was filed with the French financial markets authority (Autorité des marchés financiers - AMF) on April 12th 201
Read More
03/30/2017
Country risk and economic studies
A survey on corporate credit risk management, to which 1,017 Chinese companies responded, reveals that corporate payments improved in 2016, with only 68% of the respondent companies experiencing overdue payments in 2016 (...)
Read More
03/21/2017
Country risk and economic studies
Main economic surprise of early 2017: the rise in business confidence is perceptible, but is not yet generating a positive widespread upturn in country and risk assessments.
Read More
03/21/2017
Country risk and economic studies
12 major sectors assessed worldwid
Read More
03/21/2017
Country risk and economic studies
Conflicts grew by +100% between 2007 and 2015. 2017 likely to pay a heavy price, due to
intensification of armed conflicts
Read More
03/21/2017
Country risk and economic studies
The widespread rise in the political risk conceals mixed regional dynamics
Read More
03/14/2017
Country risk and economic studies
The potential depreciation of the renminbi (RMB), along with the implementation of capital flow measures, are longstanding concerns for China.
Read More
02/08/2017
Corporate news
“The second half of 2016 marks the beginning of the transformation of Coface. We delivered a net profit of €41.5m in the year, successfully closed the transfer of our French State export guarantees activity, and launched our 3-year strategic plan, Fit to Win, the (...)
Read More
02/03/2017
Country risk and economic studies
Payment experience affected by the bleak economic scenario.
75% of interviewed companies received payment extensions requests from their clients;
Read More
01/24/2017
Country risk and economic studies
Despite the recent economic upturn, uncertainties will continue to dominate the global economic climate this year.
Read More
01/23/2017
Corporate news
Four major risks for 2017 but some positives points...
Read More
01/12/2017
Country risk and economic studies
Coface’s payment survey confirms that sales on credit are being extensively used by Polish companies. Although credit periods have become common practice, it does not mean that receivables are being paid on time.
Read More
01/02/2017
Country risk and economic studies
In line with previous communication, Coface has ceded its State export guarantees activity to the French public investment bank, Bpifrance.
Read More
12/20/2016
Country risk and economic studies
Concerns over the country’s economic performance have been amplifying, due to its prolonged economic decline since 2011 (...)
Read More
12/19/2016
Country risk and economic studies
Greater political uncertainty resulting from two parliamentary elections in 2015, drying global liquidity due to the US Federal Reserve’s rate hike process and the weaker Turkish lira, all contributed to dragging down growth.
Read More
12/13/2016
Country risk and economic studies
Taxi company insolvencies in France increased by nearly 60% in one year, rising from 141 cases in August 2015, to 224 at the end of August 2016 and resulting in the loss of 3.38 jobs on average (...)
Read More
11/30/2016
Country risk and economic studies
The signs for Germany’s further economic development are promising, with a high level of stability. Coface’s expectations for solid growth therefore come as little surprise.
Read More
11/25/2016
Country risk and economic studies
At the end of 2016, global sector trends remained mixed, including in the regions that until now have been relatively spared by the increase in risks. Over the whole year, across 12 sectors evaluated in six regions of the world, nearly half saw their assessments change. There were 23 downgrades for 10 upgrades.
Read More
11/09/2016
Country risk and economic studies
Why did the yen depreciation, which occurred during the early success of the first arrow, not boost Japan’s merchandise export volumes?
Read More
11/07/2016
Country risk and economic studies
In the 2nd Quarter of 2016, seasonally adjusted activity decelerated to 1.5 %, down from 2.5% y/y reported in the previous period. Industry, which shrank by 1.5% q/q, was the main contributor to this weak result, due to the fall in oil production and challenges faced by manufacturing and construction industries. The services sector also slowed during the period, to a growth rate of 2.4% YoY, down from 3.4% for 1Q2016.
Read More
10/18/2016
Country risk and economic studies
Periods of economic crisis naturally lead to heightened political uncertainty and this aspect is crucial in assessing country risks
Read More
10/17/2016
Country risk and economic studies
European political calendar: crucial deadlines
Read More
10/14/2016
Country risk and economic studies
Global growth: stability in developed countries, slight improvements among emerging economies
Read More
09/30/2016
Corporate news
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.
Read More
09/23/2016
Country risk and economic studies
Foreign trade is unlikely to be a main contributor to the growth of Latin American economies over the next few years
Read More
09/21/2016
Country risk and economic studies
Fit to Win 3-year plan financial ambitions
Read More
09/20/2016
Country risk and economic studies
Morocco’s growth rate has slowed in 2016, after recording an increase of close to 4.5% in 2015.
Read More
09/16/2016
Country risk and economic studies
Poland’s economy is slowing this year, although the growth rate will remain fair: 3.2% for 2016, following 3.6% in 2015.
Business is benefiting from positive macroeconomic conditions.
Insolvencies and restructuration proceedings fell by over 14%. Coface forecasts further improvements, with the number of proceedings falling in 2016 and 2017.
Read More
09/14/2016
Country risk and economic studies
Q2 impacted by external shocks
2016 growth forecasts remain positive at 1.6%
Non-financial corporate debt: an upward momentum unique in Europe but far below alert thresholds
Read More
09/14/2016
Country risk and economic studies
The automotive sector has been upgraded to the best risk category
Private buyers are returning to the car market, driving up sales of new vehicles, which are expected to increase by 5.6% in 2016
Read More
09/09/2016
Country risk and economic studies
Several favourable factors are boosting the sector, including rising populations, increasing demand for processed food, higher per capita incomes and improved production capacities. Infrastructures, climate and government strategies are major influencers.
Read More
08/31/2016
Country risk and economic studies
Coface publishes CEE TOP 500 Companies
Biggest players benefit from favourable business conditions in CEE
Read More
08/31/2016
Country risk and economic studies
Despite strong private and public investments, health indicators in the United States are below average compared to the 12 most advanced countries
Read More
08/30/2016
Country risk and economic studies
Of all the industrialised nations, the USA has the highestn expenditure for public healthcare but poor results
Read More
08/26/2016
Country risk and economic studies
Despite the solidity of Germany’s economy, payment delays are still commonplace
Read More
08/09/2016
Country risk and economic studies
China’s economy grew by 6.9% in 2015, the slowest expansion pace in 25 years. Growth should continue to slow in 2016 and 2017, and will probably undershoot the government’s average annual growth target of 6.5% - as set out in the five-year plan for 2016-2020.
Read More
07/27/2016
Country risk and economic studies
Strategic plan Fit to Win designed to transform Coface into the most agile global trade credit partner in the industry
Read More
07/18/2016
Country risk and economic studies
Sector risks are still increasing in emerging markets
Read More
07/18/2016
Country risk and economic studies
Company insolvencies in central, eastern and northern Europe: Positive trends but the decline will be slower than in 2015 in some countries
Read More
07/13/2016
Country risk and economic studies
The number of insolvencies decreased over the course of 2015 in 9 out of 13 countries, while the GDP-weighted regional insolvency average was -14%.
Read More
07/11/2016
Country risk and economic studies
High level of diversification does not make the UAE totally immune from the energy prices fall, retail and tourism challenged
Read More
07/08/2016
Country risk and economic studies
How countries have beat the competition
Read More
07/04/2016
Country risk and economic studies
...loss ratio of 63% to 66% for full year 2016
Read More
06/30/2016
Country risk and economic studies
Heavily impacted by the Chinese slowdown and the fall in commodity prices, sub-Saharan Africa posted its lowest level of growth since 2008. 15 countries, including several that have been severely impacted by cri-ses, show significant potential in terms of consumer spending. Two sectors offer medium-term opportunities: retail and ICT
Read More
06/29/2016
Country risk and economic studies
15 countries identified as having high potential consumer markets
Read More
06/29/2016
Country risk and economic studies
Forecast world growth for 2016 down by 0.2 points to 2.5%. The average level of global risk corresponds to B, « significant risk ». Increasing numbers of emerging markets included in the "extreme" and "very high" risk categories. Three leading world economies become fragile. China penalises activity in several Asian countries. Europe facing positive dynamics, but political risk driven by the Brexit must be monitored.
Read More
06/17/2016
Country risk and economic studies
Europe’s improved macroeconomic situation has had favorable effects on businesses in most European countries and led to fewer insolvencies in 2015 in the four Northern
Read More
06/06/2016
Country risk and economic studies
Country risk assessments of qualified countries: their current form
Read More
05/31/2016
Country risk and economic studies
Coface’s annual survey on Asia-Pacific economies questioned 2,793 companies in 8 markets (...)
Read More
05/25/2016
Country risk and economic studies
A number of positive indicators for the French economy appeared between January and April 2016.
Read More
05/23/2016
Corporate news
Fitch Ratings issued today, May 20th 2016, a press release on Coface in which the agency affirms the Group’s Insurer Financial Strength (IFS) rating at 'AA-', Outlook Stable.
Read More
05/17/2016
Country risk and economic studies
Brazil is in the midst of a perfect storm. The enduring political crisis and deep economic recession, which led to the collapse of confidence indexes, have now been topped by an impeachment trial of President Dilma Rousseff (...)
Read More
05/10/2016
Country risk and economic studies
Hungary is performing well, considering the context of struggling economies globally.
Read More
05/04/2016
Corporate news
This has been a tough first quarter. Business turnover and profits were lower compared to the same period last year, against the backdrop of a polarized and volatile economic environment.
Read More
04/18/2016
Corporate news
Coface and Bpifrance today signed an agreement concluding the transfer of French state export guarantees management from Coface to Bpifrance, in line with the preliminary protocol agreed with the French state on 29 July 2015.
Read More
04/16/2016
Corporate news
The Registration Document of COFACE SA for 2015 (Document de référence 2015 in French) was filed with the French financial markets authority (Autorité des marchés financiers - AMF) on April 13th, 2016, and registered under the visa number R.16-020.
Read More
04/15/2016
Country risk and economic studies
Metals industries, the world's riskiest sector. Over-capacities remain. Outlook: return to normal for 2018.
Read More
04/14/2016
Country risk and economic studies
Following a long period of increasing demand, driven by China in the 2000s, steel is suffering from weak growth in the global economy.
Read More
04/13/2016
Country risk and economic studies
Global growth at half-mast (2.7% projected by Coface for 2016), under the impact of the highly volatility financial markets and continuing low oil prices, is compromising the health of industries analysed by Coface. (...)
Read More
03/27/2016
Country risk and economic studies
The global economy is turning "Japanese": world growth remains low, despite ultra-expansionist monetary policies (...)
Read More
03/25/2016
Country risk and economic studies
Although the current crisis in emerging countries is surprising in its intensity, with their growth cut in half in five years and increased exposure (...)
Read More
03/24/2016
Country risk and economic studies
Consult coface new infographics
Read More
03/17/2016
Country risk and economic studies
After five years of sanctions, Iran is finally to rejoin the global community. The return of Iran should have an effect on international growth via the oil channel but, above all, will bring huge changes to Iran itself.
Read More
03/16/2016
Country risk and economic studies
Iran: Strengths, weaknesses, opportunities and threats
Read More
03/02/2016
Country risk and economic studies
The greater export risks faced by German companies are hampering growth performance. As Germany has strong trading ties with the Emerging Market and Developing Economies group (EMs), it is highly exposed to the (...)
Read More
02/18/2016
Country risk and economic studies
China, on its way to becoming an important financial player for economies with restricted access to international markets, has announced its intention to increase its (...)
Read More
02/16/2016
Country risk and economic studies
Lessons learned 2015, hope in 2016: situation of companies returning to normal
Read More
02/09/2016
Country risk and economic studies
At the end of 2015, a year marked by a deterioration in the global economic environment, Coface recorded a slight increase in net income (group share), at €126M (€125M in 2014).
Read More
01/26/2016
Country risk and economic studies
To be monitored: cheap oil, financial market volatility and the Chinese slowdown in advanceD countries and growing debt of companies in emerging countries
Read More
01/26/2016
Country risk and economic studies
160 countries under the magnifying glas
Read More
01/15/2016
Corporate news
This appointment will become effective following the Board of Directors’ meeting to be held on 9 February to approve the accounts for fiscal year 2015. Jean-Marc Pillu will continue in his role as Chief Executive Officer of Coface until this date.
Read More
12/09/2015
Country risk and economic studies
Marked by the commidities price fall and the slowdown in sales, 2015 requires a greater control over risks
Read More
12/08/2015
Country risk and economic studies
The temperature of 14 sectors in 3 of the world’s major regions
Read More
12/08/2015
Country risk and economic studies
Europe's double positioning and Asia, the world's futur landing consumer
Read More
11/03/2015
Country risk and economic studies
Brazil, downgraded to B (significant risk of businesses defaulting) by Coface in September, has been facing a scenario of economic juggling (...)
Read More
10/15/2015
Country risk and economic studies
Energy is more risky than ever, while Information and Communication Technologies is the only sector to receive a positive revision and automobile is adjusting.
Read More
10/15/2015
Country risk and economic studies
Despite the strong domination of Chinese companies and overcapacity in Europe, the European market remains promising in the medium term.
Read More
Aimed at the evolving credit insurance needs of mid-market companies, Coface has modernised its flagship policy, renamed TradeLiner. The move follows on from the experience Coface gained through its first global non-payment protection offer introduced fifteen years ago and is based on its desire to work harder to help protect mid-sized companies operating in the real economy.
Read More
Coface, one of the the leading credit insurers and market leader for information in Central Europe, re-launches its online business information marketplace.
Read More
05/05/2015
Corporate news
We begin 2015 with robust results: the Group’s growth and profitability are satisfactory and demonstrate the steadfastness with which the Group is implementing its strategy in a still mixed economic environment. The weaknesses seen in certain sectors across the world are affecting companies’ financial solidity and are an invitation to remain watchful. The Group continues to accompany its customers through sound risk management, securing both their own results and those of Coface.
Read More
Local companies to benefit from Coface’s expertise in prevention and credit risk protection in addition to collection and information services.
Read More
03/11/2015
Country risk and economic studies
The Czech Republic is recovering from recessive effects as a result of debt crisis in the Eurozone. The economy regained momentum reaching solid growth of GDP by 2.0% in 2014 and even a higher growth of GDP by 2.5% is forecasted by Coface to be reached this year. The main driver of the Czech economy will be the export of passenger cars as well as the rising consumer consumption.
Read More
02/17/2015
Corporate news
We are pleased to publish full-year results in line with our expectations. Coface has once again demonstrated the pertinence of its profitable growth model this year. Our innovative product offering, appropriate distribution channels, extensive international presence and prudent risk management have all contributed to the significant improvement in our results.
Read More
11/05/2014
Corporate news
Coface continues to progress on a path of growth and profitability
· Turnover +1.8% at constant scope and exchange rates
· Client retention rate still high at 91.9% and new contracts production up +8%
Read More
09/11/2014
Corporate news, Product news
Coface now offers customers a mobile application providing access anywhere and at any time to the essential features of Cofanet, its online platform for managing credit insurance contracts. The application will be available for download at the Apple App Store and Google Play Store.
Read More
09/01/2014
Corporate news
“Inflation, recession and decreasing exports” were the buzz words that characterised 2013 for companies in Central and Eastern Europe.
Worldwide economic growth picked up pace but left the CEE countries aside. The eurozone, the region’s major trading partner, remained in recession in 2013 and was the main reason for making the economic environment even more difficult for its neighbours.
Read More
08/05/2014
Corporate news
Coface is publishing its second edition of the Baltic Top 50. The companies are ranked based on their turnover in 2013. Figures for 2013 show the continuing recovery of the Baltic states. The total turnover of the top players in the North increased by 2.2% to EUR 36.2 billion. Whereas net profits fell from 2011 to 2012, companies have now reported a sharp rise of 54.6%.
Read More
07/01/2013
Corporate news
(Vienna, Zagreb 2013) Coface launches credit insurance from the very first day of Croatia´s accession to the European Union on 1st of July 2013. For the worldwide credit insurance company it is not an unknown country: Since 1998 Coface has been active on this market by offering business information and debt collection services for Croatian and international customers.
Read More
06/26/2013
Corporate news, Country risk and economic studies
The Italian "business model" stuck in a vicious circle.
Read More
05/30/2013
Corporate news, Country risk and economic studies
After a slight recovery in 2011, countries report a difficult economic environment again. Insolvency figures increased again in CEE in 2012 – except Latvia, Estonia and Ukraine
Read More
04/18/2013
Country risk and economic studies
Credit risks still high in Europe but the outlook is favourable in Emerging Asia and in North America.
Read More
03/28/2013
Corporate news
Antonio Marchitelli has been appointed Mediterranean and African Region Manager of Coface, effective from March 1st 2013.
Read More
01/21/2013
Corporate news
A new brand positioning, symbol of a strong commitment to clients.
Read More
11/28/2011
Corporate news, Country risk and economic studies
The CEE Top 500 is a joint project by the Coface branch offices in Central and Eastern Europe. This ranking covers the largest companies in the region – based on revenues for the 2010 calendar year – and was prepared in 2011 for the third time.
Read More
04/19/2011
Corporate news, Country risk and economic studies
From the start of 2011, in less than four months, the insurance premiums of business risk Management Company Coface Lithuania reached 1.9 million litas, i.e. nearly 78 per cent more than during the same period in 2010.
Read More
11/17/2010
Corporate news, Country risk and economic studies
‘Coface Lietuva’ and Danske bank organized risk management conference named ‘Business world after crisis – are we ready for the new challenges?’
Read More
07/30/2010
Corporate news, Country risk and economic studies
U.S. rating agencies are numbering their monopoly days. Until the end of this year French insurer Coface is going to start its activity as the first international rating agency in Europe.
Read More
07/29/2010
Corporate news, Country risk and economic studies
The rating was released in conjunction with the Coface Country Risk Conference 2010 held for the first time in Singapore.
Read More
03/01/2010
Corporate news, Country risk and economic studies
Support to the insured’s and the economy has resulted in a total guaranteed exposure that has been stable between the end of 2007 and the end of 2009, at €370 billion euros (the only major credit insurer to deliver such stability).
Read More
01/18/2010
Corporate news, Country risk and economic studies
During its 14th Country Risk Conference, Coface announces some 20 upgrades in country ratings.
Read More
