Coface SA: Coface records a good start to the year with a net income of €56.4m
Coface records a good start to the year with a net income of €56.4m
Turnover: €378m, up 4.2% at constant FX and perimeter
Trade credit insurance growing by 6.1% at constant FX benefiting from stabilising client activity
Client retention close to record highs; positive price effect (+2.9%)
Business Information continues to grow (+9% at constant FX)
Factoring and debt collection down on lower volumes
Net loss ratio at 24
.
Gross loss ratio at 29.5%, an improvement by 25.7 ppts; low level of claims worldwide
Net cost ratio down by 1.5 ppt to 28.3%, thanks to strict cost discipline and revenue growth
Coface SA: COFACE SA: Governance evolution - Bernardo Sanchez Incera appointed Chairman of the Board of Directors
COFACE SA: Governance evolution - Bernardo Sanchez Incera appointed Chairman of the Board of Directors
Following the change in the shareholder base and the arrival of Arch Capital Group Ltd. (Arch)
- (NASDAQ: ACGL) -
in Coface s capital, COFACE SA s Board of Directors is evolving. Bernardo Sanchez Incera has been appointed Chairman of the Board of Directors.
The transaction between Natixis and Arch for the sale of a stake in Coface s capital, which was announced on 25 February 2020, has received all the necessary approvals for its closing. As a result, Arch now holds 44.8m shares of Coface, representing 29.5% of the company s capital.
COFACE SA: Governance evolution – Bernardo Sanchez Incera appointed Chairman of the Board of Directors
Paris, 10
COFACE SA: Governance evolution – Bernardo Sanchez Incera appointed Chairman of the Board of Directors
Following the change in the shareholder base and the arrival of Arch Capital Group Ltd. (Arch)
- (NASDAQ: ACGL) -
in Coface s capital, COFACE SA s Board of Directors is evolving. Bernardo Sanchez Incera has been appointed Chairman of the Board of Directors.
The transaction between Natixis and Arch for the sale of a stake in Coface s capital, which was announced on 25 February 2020, has received all the necessary approvals for its closing. As a result, Arch now holds 44.8m shares of Coface, representing 29.5% of the company s capital.
Coface SA: COFACE SA: FY-2020 results: Net income at €82.9m and 100% pay-out ratio
FY-2020 results: Net income at €82.9m and 100% pay-out ratio
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- Trade Credit Insurance decreasing by -0.8% at constant scope and FX
- Client retention reaches new record levels. New business increasing to €138m
- Improving pricing conditions confirmed and lower client activity continues
Net loss ratio at 47.7%, up by 2.7 ppts. Annual net combined ratio at 79.8% (84.5% excluding the effect of government schemes)
Q4-2020 net loss ratio at 18.3% (33.1% excluding government schemes), due to strong management of past claims and low level of new claims
Annual net cost ratio improved by 0.6 ppt to 32.1%, reflecting costs control in the current environment