The rating agency AM Best affirmed on 18th
In its press release, the agency reminds that this rating reflects Coface’s balance sheet strength, which AM Best assesses as “very strong”. This strength is underpinned by a consolidated risk-adjusted capitalization at the strongest level as measured by the Best’s Capital Adequacy Ratio (BCAR) score.
AM Best also acknowledges that despite deteriorated economic conditions, Coface has reported good technical results in 2020 with a net combined ratio at 79.8%.
Last, in its release, the rating agency underscores that this note reflects Coface’s “leading position in the global credit insurance market, which is characterised by high barriers to entry”.
“This affirmation comes after a year 2020 that has been extraordinary by many aspects. Coface teams’ commitment has allowed us to navigate through this first phase of the sanitary and economic crisis in a satisfactory manner. We continue to relentlessly implement our strategy to improve our agility and our resilience, which are at the heart of our culture.”
CONTACTS | |
MEDIA RELATIONS Saphia GAOUAOUI T. +33 (0)1 49 02 14 91 saphia.gaouaoui@coface.com Amélie RIVENET T. +33 (0)7 64 44 65 83 amélie.rivenet@coface.com | ANALYSTS / INVESTORS Thomas JACQUET T. +33 (0)1 49 02 12 58 thomas.jacquet@coface.com Benoit CHASTEL T. +33 (0)1 49 02 22 28 benoit.chastel@coface.com |
FINANCIAL CALENDAR 2020/2021 (subject to change)
Q1-2021 results:
Annual General Shareholders’ Meeting 2020:
H1-2021 results:
9M-2021 results:
FINANCIAL INFORMATION
This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website:
http://www.coface.com/Investors
For regulated information on Alternative Performance Measures (APM),
please refer to our Interim Financial Report for S1-2020 and our 2019 Universal Registration Document.
Coface: for trade With 75 years of experience and the most extensive international network, Coface is a leader in trade credit insurance and adjacent specialty services, including Factoring, Single Risk insurance, Bonding and Information services. Coface’s experts work to the beat of the global economy, helping ~50,000 clients build successful, growing, and dynamic businesses across the world. Coface helps companies in their credit decisions. The Group's services and solutions strengthen their ability to sell by protecting them against the risks of non-payment in their domestic and export markets. In 2020, Coface employed ~4,450 people and registered a turnover of €1.45 billion. www.coface.com Code ISIN: FR0010667147 / Mnémonique : COFA |
DISCLAIMER - Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the
Attachment
- 2021 03 19 PR AM Best
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