NEWS, PUBLICATIONS & EVENTS

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07/10/2019
Country risk and economic studies

All the News

10/25/2018
Country risk and economic studies

Halfway through its trade diversification process, the United Arab Emirates is yet to be integrated into international value chains

In the last three decades, the UAE has developed into the second largest and most diversified economy in GCC area through the implementation of specific policy frameworks regarding regulations (...)

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10/24/2018
Corporate news

Coface results at 30 September 2018

Coface reports a solid performance confirming the relevance of its strategy and launches additional €15m share buyback programme

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10/19/2018
Corporate news

Coface and Tradeshift announce strategic partnership

Global credit insurer to make risk indicators available to a network of 1.5 million businesses in 190 countries.

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10/16/2018
Country risk and economic studies

US protectionism: Significant knock-on effect on trade partners of targeted countries

Increased protectionism is affecting a large number of economies – both advanced and emerging (...)

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10/16/2018
Country risk and economic studies

Country and sector risks worldwide Some emerging economies become increasingly vulnerable

Higher oil prices and continued capital outflows from emerging markets mark the third quarter of 2018 (...)

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09/28/2018
Country risk and economic studies

Central & Eastern European insolvencies: The good times are over

Despite economic acceleration in the region, insolvencies increased by +6.4% in 2017

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09/17/2018
Country risk and economic studies

Political risks in Asia are on the rise

According to Coface’s Political Risk Index, Asia scored 45% on the latest risk ranking, above the world average of 35% (...)

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08/29/2018
Corporate news

Fitch affirms Coface AA- rating, with an outlook ‘stable’

Fitch Ratings affirmed, on August 29th 2018, Coface AA- Insurer Financial Strength (IFS) rating. The outlook remains stable.

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08/17/2018
Country risk and economic studies

Greece's exit from the international bailout programme: Greek companies are experiencing a revival - more competitive and less indebted

Multiple signs of an economic recovery in Greece. Reforms have helped to clean up public accounts, restore Greece's credibility and strengthen confidence.

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07/25/2018
Corporate news

In the first half of 2018, Coface continues to record a solid performance in a gradually normalising risk environment

Net profit of €62.8m and RoATE1 at 7.8%

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06/29/2018
Country risk and economic studies

France’s loss of market share in Africa benefits several European countries, China and India

While France’s trade balance has remained in surplus, its market share of exports to Africa halved from 11% in 2000, to 5.5% in 2017.

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06/28/2018
Corporate news, Corporate news

Coface awarded “Best Credit Insurance brand in France 2018”

Coface France has been recognised as industry leader with the Best Credit Insurance brand France 2018 Award by Global Brands Magazine (...)

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06/27/2018
Country risk and economic studies

Country and sector risks worldwide: Signals of risk on the increase in the 2nd quarter

Downgraded assessments in the majority this quarter

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06/27/2018
Corporate news

Coface sells its stake in Cofacrédit

Coface announces today that it has ceded to Factofrance (Groupe Crédit Mutuel – CM11) its 36% stake in the capital of Cofacrédit, a factoring company previously jointly owned by the two groups.

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06/01/2018
Country risk and economic studies

Global metals sector: prices to continue to rise in 2018, ahead of a possible slight decline in 2019

On the back of highly-synchronised economic growth, technological shifts boosting a surge in the use of metals and a shortfall in supply, metals have been benefitting from a bull market since mid-2016 (...)

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05/23/2018
Country risk and economic studies

Election season in Latin America: Growing political risks undermine economic activity

The Coface Political Risk Index takes into consideration various risk aspects: (...)

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05/14/2018
Country risk and economic studies

Western Balkans’ accession to EU membership likely to be completed - supported by the region’s strategic importance

The European Union - Western Balkans Summit will take place in Sofia, Bulgaria, on the 17th of May 2018. This meeting aims to reaffirm the EU’s commitment towards the Western Balkans gaining EU membership. Coface’s economists see the EU accession as likely to happen, particularly as it would counterbalance Russian and Chinese presence in the region.

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04/25/2018
Country risk and economic studies

Africa: diminishing reserves increase risks of another crash

Adversely affected by the slump in raw material prices, most African currencies lost over 20% of their value between 2013 and 2016

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04/24/2018
Corporate news

Coface results for the first quarter 2018:

Net income of €35.5m and RoATE(1) at 8.8%; Fit to Win execution drives profitability in a supportive economic environment

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03/29/2018
Country risk and economic studies

Central and Eastern Europe: Political risks on the rise but no impact yet on local businesses

With the wave of ongoing elections in countries such as Hungary, Czech Republic, Poland and Slovenia, Central and Eastern Europe is undergoing a major period of change against the background of economic growth that is still strong (...)

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03/08/2018
Corporate news

Women to Win, when Coface conjugates with the feminine

The International Women's Day is an opportunity to review the numerous projects carried out within the framework of the Women to Win dedicated to women's leadership, networking and knowledge and experience- sharing (...)

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03/08/2018
Country risk and economic studies

NAFTA renegotiations - could Mexico’s “high-risk” automotive industry deteriorate into a crisis?

Mexico’s automotive industry plays an important role in its economy (...)

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02/12/2018
Corporate news

Full-year results 2017: Coface doubles net income to €83.2m, and activates the capital optimisation lever provided for in its Fit to Win plan

Turnover: €1 354.9m, up 0.3% at constant scope and exchange rates. Net loss ratio 51.4%, improved by 14.1 pts; annual net combined ratio at 86.6%.

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11/14/2017
Country risk and economic studies

China's ambitions in sub-Saharan Africa: efforts to rebalance bi-lateral relations still needed

Almost twenty years after the launch of the first Forum on China-Africa Cooperation, China-Africa relations remain unbalanced. Bilateral trade has leaped over the past ten years (a total of $123 billion in 2016), driven, up to 2014, by exports, which have fallen by 51% since the peak.

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10/25/2017
Corporate news

Coface 9M-2017 Results: Net income at €55.0m driven by loss ratio improvement, in line with new guidance

We now see the full impact of the measures taken in the previous quarters within the Fit to Win strategic plan to drive down the loss ratio, in what is a still favourable economic environment. The net profit for the quarter, at €35m, shows significant progress compared to previous quarters.

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09/28/2017
Country risk and economic studies

Financing businesses: the bond market is turning into a "spare tyre"...

Corporate bond financing: an advantage in times of crisis?

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09/28/2017
Country risk and economic studies

Financing businesses: the bond market is turning into a "spare tyre"...

Corporate bond financing: an advantage in times of crisis?

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09/27/2017
Country risk and economic studies

Country and sector risks: Europe remains the big winner in the world economic upturn

World economic growth might not yet be at its highest (2.9% in 2017 and 2018), but there can be no denying that there are healthy signs.

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09/12/2017
Country risk and economic studies

Coface announces CEE Top 500 companies: Automotive & transport sector is the regional leader. Oil & gas continues downturn, losing number one posit...

2016 – a mixed year for CEE. The labour market boomed, while turnover and net profit of the largest companies decreased by -0.6% and -3.1% / CEE Top 500 companies increased their workforces in 2016. Lower regional unemployment rates / Poland (+3.3% in turnover) remains the biggest player, followed by Hungary (-11.5%) and the Czech Republic (-2.2%) / Sectors: automotive industry up (+8.6% in turnover), oil & gas sector down (-5.6%)

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09/12/2017
Country risk and economic studies

Central & Eastern European insolvencies overview

Company insolvencies dropped by 14% in 2015 and 6% in 2016

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09/12/2017
Country risk and economic studies

Infrastructure: the Achilles’ heel of development in Latin America

Weak development of infrastructure in the region. Poor record in improving investment rates

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09/08/2017
Corporate news

Fitch affirms Coface AA- rating, with an outlook ‘stable’

Fitch Ratings affirmed, on September 8th 2017, Coface AA- Insurer Financial Strength (IFS) rating. The outlook is stable.

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09/04/2017
Corporate news

Coface appoints Samuel Jesuratnam as Country Manager for Singapore

Coface announces the appointment of Samuel Jesuratnam as Country Manager of Coface in Singapore effective from 1 September.

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09/04/2017
Corporate news

Coface appoints Bhavesh Patel as Country Manager for India

Coface announces the appointment of Bhavesh Patel as Country Manager of Coface in India effective from 1 September. Bhavesh succeeds Samuel Jesuratnam who has been appointed as Country Manager of Coface in Singapore.

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08/02/2017
Country risk and economic studies

How could “Trumponomics” affect Latin America’s economies?

Political developments in the US have caused uncertainties over the trade policies that could be implemented and the region’s vulnerability to tighter financial conditions (...)

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07/28/2017
Corporate news

Coface H1-2017 Results

Operating income up 17.5% and net income at €20.2m
Improving guidance for 2017: net loss ratio 3pts better, at below 58%

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07/27/2017
Corporate news

Isabelle Laforgue and Nathalie Lomon join COFACE SA’s Board of Directors

Isabelle Laforgue and Nathalie Lomon join COFACE SA’s Board of Directors

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07/24/2017
Country risk and economic studies

GCC banks urged to fine-tune liquidity management in order to address new economic cycle - Coface Economic Report

The stagnation of low oil prices is weighing on liquidity conditions across Gulf Cooperation Council (GCC) countries. This is slowing down government fiscal revenues (...)

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07/10/2017
Country risk and economic studies

Asia Corporate Payment Survey 2016: Tail risks are on the rise

Coface’s latest annual payment survey covered 2,795 corporates in the Asia Pacific region, focusing on 8 markets: Australia, China, Hong Kong, India, Japan, Singapore, Taiwan and Thailand. The survey also traced the evolution of corporate payments in 11 sectors (...)

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07/05/2017
Country risk and economic studies

Country and sector risks worldwide

The second quarter of 2017 marked a new start for Europe, Russia and, on the sector side, for the automobile and agrofood industries in several countries (...)

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07/04/2017
Country risk and economic studies

Sector risk assessments 2nd quarter 2017

12 Major sectors assessed worldwide

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06/08/2017
Country risk and economic studies

Infographics - Brexit: despite a series of shocks, british companies remain sound

Mixed resilience, first signs of Brexit during the exit negociations phase but still some positive points...

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06/08/2017
Country risk and economic studies

Brexit: Despite several shocks, the United Kingdom will remain attractive for businesses

Businesses have proven their resilience since the referendum, but a downturn in investments is starting to be seen.
The fall in growth (1.4% in 2017 and 1.2% in 2018) will lead to a rise in the number of business failures, of 8.7%1 and 8%1 respectively

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06/02/2017
Corporate news

Coface appoints Carlos Casanova as Economist for Asia Pacific Region

Coface has appointed Carlos Casanova as the Economist for the Asia Pacific Region effective from 15 May. Carlos is based in Hong Kong. The appointment underscores Coface’s local expertise on macroeconomic research and trade risks.

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06/02/2017
Country risk and economic studies

Russia is emerging from recession, but the structural constraints risk impeding its mid-term growth

The diversification of the Russian economy, made necessary by a slump in oil prices that is set to last, is coming up against structural constraints that may well have a deleterious effect on its mid-term growth.

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05/24/2017
Corporate news, Product news

Coface places digital transformation at the heart of its strategy with launch of new customer portal

Coface’s new customer portal and fully revamped CofaNet online credit insurance contract management tool are being launched today. With the new solutions, customers will benefit from innovative features, unique access, customised content, advanced ergonomics, real time results displays and easier contacts.

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05/17/2017
Country risk and economic studies

New Coface survey shows optimism among UAE non-oil private companies

Coface, the worldwide leader in trade credit management solutions and risk information services, has published its first-ever Credit Opinion Survey for the UAE region (...)

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05/10/2017
Country risk and economic studies

Labour shortages in the Central and Eastern Europe region: an opportunity for households but a threat for local companies

Developments in Central and Eastern Europe (CEE) labour markets have been beneficial for households. Rising wages and low inflation, combined with improving consumer confidence, have led to lower unemployment rates and an increase in private consumption.

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05/02/2017
Corporate news

Coface digitalizes the customer experience

One of the priorities of Coface’s three-year strategic plan Fit-to-Win is to enhance Client Service.

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04/26/2017
Corporate news

Coface results for Q1-2017: Net income at €7.3m driven by an improvement in net loss ratio. Fit to Win progressing as planned.

Net income at €7.3m driven by an improvement in net loss ratio. Fit to Win progressing as planned.

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03/31/2017
Country risk and economic studies

Corporate payments improve in China in 2016 but ultra-long overdues are up under financial stress

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 (...)

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03/23/2017
Country risk and economic studies

New Coface Political Risk Index in 159 countries

The widespread rise in the political risk conceals mixed regional dynamics

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03/23/2017
Country risk and economic studies

Country and sector risks worldwide - Business confidence is picking up again, despite persistent political risk

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.

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03/21/2017
Country risk and economic studies

Infographics : New political risk index for 159 countries

Conflicts grew by +100% between 2007 and 2015. 2017 likely to pay a heavy price, due to intensification of armed conflicts

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03/21/2017
Country risk and economic studies

Infographics : Sector risk assessments - 1st quarter 2017

12 major sectors assessed worldwid

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03/15/2017
Country risk and economic studies

RMB depreciation, capital flow measures and new monetary stance: What are the implications for Chinese corporates?

The potential depreciation of the renminbi (RMB), along with the implementation of capital flow measures, are longstanding concerns for China.

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02/08/2017
Corporate news

Coface results at 31 December 2016

“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 (...)

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02/07/2017
Country risk and economic studies

First Brazilian Corporate Payment Survey 2016

Payment experience affected by the bleak economic scenario.
75% of interviewed companies received payment extensions requests from their clients;

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02/03/2017
Corporate news

Coface Group: Executive Committee appointments

As part of the implementation of the three-year strategic Fit-to-Win plan, aimed at positioning Coface as the most agile global credit insurer on the market, changes are to be made to the Group's Executive Committee, effective from 3 April 2017.

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01/27/2017
Country risk and economic studies

2017: A year of political and banking risks for emerging countries

Despite the recent economic upturn, uncertainties will continue to dominate the global economic climate this year.

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01/23/2017
Country risk and economic studies

Infografics - 2017: An economic upturn in the face of political risk

Four major risks for 2017 but some positives points...

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01/12/2017
Country risk and economic studies

Poland Payment Survey: Payment delays pervade Polish corporates

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.

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01/02/2017
Corporate news

Coface has transferred French State export guarantees activity to Bpifrance

In line with previous communication, Coface has ceded its State export guarantees activity to the French public investment bank, Bpifrance.

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12/28/2016
Country risk and economic studies

South Africa’s economy challenged by crises in agriculture and mining, amid fears of an investment downgrade

Concerns over the country’s economic performance have been amplifying, due to its prolonged economic decline since 2011 (...)

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12/28/2016
Country risk and economic studies

After a series of shocks in 2015 and 2016, Turkey’s economy is coming to the end of its new “Tulip era”

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.

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12/16/2016
Country risk and economic studies

Uberisation of French economy: a positive impact on employment but will it last?

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 (...)

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12/07/2016
Corporate news

Coface appoints Thiti Musuwan as Country Manager of Coface in Thailand

Reinforcing its commitment to continue to be the leading credit insurance provider of Thailand, Coface is appointing Thiti Musuwan as Country Manager of Coface in Thailand effective from 1 December. Thiti will manage the operations and develop Coface’s credit insurance and credit management services in Thailand.

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12/02/2016
Country risk and economic studies

German Economy in 2017: Stable, but Not Staid

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.

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11/30/2016
Country risk and economic studies

Six Downgrades Reflect Precarious Global Risk Situation

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.

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11/25/2016
Corporate news

Coface appoints Abhay Narkar as Vice President and Head of Single Risk, Financial Institutions & Structured Finance in Asia Pacific Region

As Coface positions its business in the Asia Pacific Region for growth we need to ensure that we are driving global and regional collaboration to deliver our global product and sector expertise to provide smart solutions for our customers, as well as to ensure acceptable and smart risk management. In order to do this, we are strengthening and upgrading our coverage in the important segments consisting of solutions for financial institutions, single risk transactions and structured finance.

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11/15/2016
Country risk and economic studies

Mexico’s Economy: More Difficult Times Ahead

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.

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11/11/2016
Country risk and economic studies

The first arrow of Abenomics: why is it not working?

Why did the yen depreciation, which occurred during the early success of the first arrow, not boost Japan’s merchandise export volumes?

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11/03/2016
Corporate news

Coface results at 30 September 2016: Operating trends in line with Fit to Win

Xavier Durand, CEO of Coface, commented: These results are in line with the trends that we highlighted last September at our Investor Day.

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11/02/2016
Corporate news

Franck Marzilli appointed Group Compliance Director of Coface

Effective in December 2016, with the objective of strengthening Coface’s controllership functions in a context of increasing complex and stringent regulations.

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11/02/2016
Corporate news

Pierre Bevierre joins Coface as Group Human Resources Director

Pierre Bevierre, who holds a post-graduate degree (DESS) in Human Resources from Paris Dauphine University, is appointed Group Human Resources Director with effect from January 2017.

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10/24/2016
Country risk and economic studies

Further downgrades triggered by the Brexit shock and falling oil revenues

Global growth: stability in developed countries, slight improvements among emerging economies

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10/17/2016
Country risk and economic studies

Infographics - Is political risk a new threat for the global economy?

European political calendar: crucial deadlines

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10/17/2016
Country risk and economic studies

Rising political risks in developed countries: the sword of Damocles hangs over Europe’s major economies

Periods of economic crisis naturally lead to heightened political uncertainty and this aspect is crucial in assessing country risks

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10/09/2016
Country risk and economic studies

Latin America: Why are manufacturing exports still lackluster?

Foreign trade is unlikely to be a main contributor to the growth of Latin American economies over the next few years..

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09/30/2016
Corporate news

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.

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09/28/2016
Corporate news

Coface is awarded Best Trade Credit Insurer in Asia Pacific

Coface is awarded ‘Best trade credit insurer in Asia Pacific’ in 2016 by GTR, marking the second time the firm has won this award. GTR is the world’s leading news source, publisher and event organiser for the global trade, commodity, export and supply chain finance industries, with offices in London, Hong Kong and Singapore.

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09/26/2016
Corporate news

Fit to Win plan to transform Coface into the most agile global trade credit partner in the industry, while evolving to a more efficient capital model

Fit to Win 3-year plan financial ambitions

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09/22/2016
Country risk and economic studies

Poland Insolvency Report: Insolvencies fall amid fair economic growth

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.

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09/21/2016
Country risk and economic studies

The French Economy: A Temporary Pause in Growth

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

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09/21/2016
Country risk and economic studies

Short-term risk is reduced for the French automotive sector, but profound changes are ahead

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

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09/21/2016
Country risk and economic studies

Moroccan company payments survey 2016

Morocco’s growth rate has slowed in 2016, after recording an increase of close to 4.5% in 2015.

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09/12/2016
Country risk and economic studies

Agrofood in North 13Africa: a strategic sector at nature’s mercy

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.

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09/02/2016
Country risk and economic studies

The outlook for the US pharmaceuticals

Of all the industrialised nations, the USA has the highestn expenditure for public healthcare but poor results

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09/02/2016
Country risk and economic studies

Pharmaceutical companies in the United States face two opposing scenarios for their business: "optimistic" or "pessimistic”

Despite strong private and public investments, health indicators in the United States are below average compared to the 12 most advanced countries

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08/31/2016
Country risk and economic studies

New German Corporate Payment Survey 2016

Despite the solidity of Germany’s economy, payment delays are still commonplace

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08/17/2016
Corporate news

Coface awarded “Asian Credit Insurer of the Year” & Country Award “Digital Insurance Initiative of the Year – Singapore”

Coface won big at the Asian Banking and Finance (ABF) Insurance Asia Awards 2016, receiving double awards with the Regional Award “Asian Credit Insurer of the Year” & Country Award “Digital Insurance Initiative of the Year – Singapore”.

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08/12/2016
Country risk and economic studies

China’s two-speed economy: Sector winners and losers

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.

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08/02/2016
Corporate news

Coface appoints Hugh Burke as Chief Commercial Officer of Asia Pacific Region

In line with its Asian growth strategy, Coface is appointing Hugh Burke as Chief Commercial Officer of the Asia Pacific Region. He will take up his new role in October 2016.

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07/27/2016
Corporate news

H1-2016 results in line with July 4th announcement.

Strategic plan Fit to Win designed to transform Coface into the most agile global trade credit partner in the industry

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07/20/2016
Country risk and economic studies

Sector Assessments Revised In 6 Global Regions

Sector risks are still increasing in emerging markets.

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07/18/2016
Country risk and economic studies

Coface Insolvency Panorama for Central and Eastern Europe: Less business insolvencies due to favourable economic conditions

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%.

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07/14/2016
Country risk and economic studies

United Arab Emirates: A new era of slower growth

High level of diversification does not make the UAE totally immune from the energy prices fall, retail and tourism challenged

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07/08/2016
Country risk and economic studies

EURO 2016: the final as seen by Coface economists!

Economic outlook of the two finalists: how countries have beat the competition

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07/05/2016
Corporate news

Coface strengthens its risk function with the appointment of Thierry Croiset as Group Risk Director

Thierry Croiset, 56, will join credit insurer Coface as Group Risk Director as of 11 July 2016, reporting directly to Carine Pichon, Chief Finance & Risk Officer.

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07/04/2016
Country risk and economic studies

Despite persistent crises, sub-Saharan Africa presents opportunities in 2025 time-frame

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

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07/04/2016
Country risk and economic studies

Infographics - Despite persistent crises, Sub-saharan Africa presents opportunities in the 2025 time-frame

15 countries identified as having high potential consumer markets

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07/04/2016
Country risk and economic studies

World corporate risk reaches peak levels

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.

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06/24/2016
Country risk and economic studies

Insolvencies in Northern Europe: Positive trends in the Netherlands, Sweden and Germany

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 (..)

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06/15/2016
Corporate news

Thibault Surer appointed Group Strategy and Business Development Director

Thibault Surer, 54, joins credit insurer Coface as Strategy and Business Development Director of the Group. The department he will head up covers Strategy, Business Development, Marketing & Innovation. Thibault becomes also a member of the Group Management and Executive Committees.

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06/13/2016
Corporate news

Thibault Surer appointed Group Strategy and Business Development Director

Thibault Surer, 54, joins credit insurer Coface as Strategy and Business Development Director of the Group. The department he will head up covers Strategy, Business Development, Marketing & Innovation. Thibault becomes also a member of the Group Management and Executive Committees.

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06/07/2016
Country risk and economic studies

24 nations warming up for the euro 2016

Country risk assessments of qualified countries: their current form

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06/03/2016
Corporate news

Coface strengthens organisation in Asia, with the appointment of Bhupesh Gupta as Asia Pacific CEO

In line with its Asian growth strategy, Coface is appointing a seasoned financial services professional, Bhupesh Gupta, to run its Asia Pacific operations.

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05/31/2016
Country risk and economic studies

No improvement in Asia Pacific corporate payments in 2015

Coface’s annual survey on Asia-Pacific economies questioned 2,793 companies in 8 markets (...)

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05/27/2016
Country risk and economic studies

Is the French economy definitely taking off?

La période janvier – avril 2016 a été riche en signaux positifs pour l’économie française

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05/20/2016
Corporate news

Coface AA- rating affirmed by Fitch

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.

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05/19/2016
Country risk and economic studies

What to Expect from Brazil's Perfect Storm?

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. No significant economic rebound is expected before 2017. Brazil’s economy contracted by 3.8% in 2015 and a further drop in GDP of 3% is expected in 2016.

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05/12/2016
Country risk and economic studies

Hungary: Private consumption rising but challenges remain for corporates

Hungary is performing well, considering the context of struggling economies globally.

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05/04/2016
Corporate news

Coface Q1-2016 results: A tough quarter in a polarized environment

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
04/19/2016
Country risk and economic studies

Steel overcapacity around the world: risk reaches a high in 2016

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
04/19/2016
Country risk and economic studies

Sector risks remain under pressure in the emerging markets

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
04/19/2016
Country risk and economic studies

Infografics - Steel: faced with global overcapacity

Metals industries, the world's riskiest sector. Over-capacities remain. Outlook: return to normal for 2018.

Read More
04/07/2016
Country risk and economic studies

Infographics - Despite persistent crises, Sub-saharan Africa presents opportunities in the 2025 time-frame

15 countries identified as having high potential consumer markets

Read More
03/30/2016
Country risk and economic studies

Czech Republic, Poland, Chile, and Thailand closest to a quick upturn in exports

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
03/30/2016
Country risk and economic studies

Quarterly update of Coface country risk assessments

The global economy is becoming more Japanese: world growth remains low, despite ultra-expansionist monetary policies (...)

Read More
03/24/2016
Country risk and economic studies

Infographics: Companies in emerging countries: is another “Phoenix miracle” possible?

Consult coface new infographics

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03/16/2016
Country risk and economic studies

Few companies in China spared from overdue payments: 80% of corporates affected in 2015

Slower growth, rising non-performing loans, RMB and stock market volatility are all concerns for China in 2016 (...)
A survey on corporate credit risk management, to which 1,000 Chinese companies responded, reveals that corporate payments continued to deteriorate in 2015, with 8 out of 10 corporates experiencing overdue payments. Coface, a leading global credit insurance group, forecasts that GDP growth will slow down to 6.5% in 2016 (vs 6.9% in 2015). In addition to the unsolved issues of high leverage and overcapacity in many sectors, downwards pressure on the RMB and stock market volatility are concerns for the Chinese market in 2016. It is not expected that non-payments will improve in the short term.

Read More
03/09/2016
Country risk and economic studies

Risks for German exports have risen significantly

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
03/07/2016
Corporate news

Interview with Graham Crozier, the new Chief Executive of COFACE for Australia and New Zealand

Meet Graham Crozier, the new Chief Executive of COFACE for Australia and New Zealand.

Read More
02/23/2016
Country risk and economic studies

China’s role in Latin America is much more than a trade issue

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
02/19/2016
Country risk and economic studies

Panorama : Company insolvencies in France

Lessons learned 2015, hope in 2016: situation of companies returning to normal

Read More
02/12/2016
Corporate news

Coface 2015 results: net income €126M and proposed dividend stable at €0.48 per share (5)

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
01/28/2016
Country risk and economic studies

Infographics: Country Risk Assessment Map - January 2016

160 Countries under the magnifying glass.

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01/28/2016
Country risk and economic studies

Country risks again under tension in 2016

To be monitored: cheap oil, financial market volatility and the Chinese slowdown in advances countries and growing debt of companies in emerging countries

Read More
01/21/2016
Corporate news

Graham Crozier appointed Chief Executive of Coface in Australia and New Zealand

Graham Crozier is appointed Chief Executive of Coface Branch in Australia, effective from 1st February 2016. He will oversee the business development and the operations of Coface‘s trade credit insurance and services activities in Oceania.

Read More
01/15/2016
Corporate news

The Board of Directors of Coface announces the appointment of Xavier Durand as Chief Executive Officer

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
12/31/2015
Corporate news

Max de Montgolfier shares his story on board the winning boat of 2015 Rolex Sydney Hobart Yacht race

Coface commercial underwriter, Max de Montgolfier, was one of the crew members on board Balance...

Read More
12/16/2015
Country risk and economic studies

Sector assessments in the world, the persistence of high risks

Marked by the commidities price fall and the slowdown in sales, 2015 requires a greater control over risks

Read More
12/16/2015
Country risk and economic studies

Europe’s qualitative wine production model resists competition

Europe’s qualitative wine production model is resisting competition, while Spain is more vulnerable

Read More
12/16/2015
Country risk and economic studies

Infographics : Sector risks - 4th quarter 2015

The temperature of 14 sectors in 3 of the world’s major regions

Read More
12/16/2015
Country risk and economic studies

Infographics : Globalisation of the wine market

Europe's double positioning and Asia, the world's futur landing consumer

Read More
12/01/2015
Country risk and economic studies

Construction: the Achilles' heel of the French economy

Following a long period of stagnation, construction in Europe is showing signs of recovery. In France it is the only sector, out of the fourteen studied by Coface, to be rated as very high risk (...)

Read More
12/01/2015
Country risk and economic studies

French companies are starting to benefit from a tenuous recovery, although certain sectors remain at risk

Coface economists estimate a growth of 1.1% for 2015 and 1.4% for 2016. Company insolvencies are down, although the level remains high (...)

Read More
11/18/2015
Country risk and economic studies

Egypt: slow recovery and structural challenges

Coface forecasts growth of 4.4% for 2015/2016

Read More
11/10/2015
Country risk and economic studies

Brazil: no quick fix for the crisis

Brazil, downgraded to B (significant risk of businesses defaulting) by Coface in September, has been facing a scenario of economic juggling (...)

Read More
11/03/2015
Country risk and economic studies

Half year 2015 Insolvency Report: Poland continues on improvement track

Poland’s increased economic activity has already reached the levels required to stabilise the number of company insolvencies.

Read More
11/02/2015
Country risk and economic studies

Infographics : focus on the future of solar energy in Europe: photovoltaics

Discover our new infografic focus on the future of the solar energy in Europe

Read More
11/02/2015
Corporate news

Results at 30 September: Coface stabilizes results and posts profit of EUR 98 million

Coface once again posts an increase in turnover this quarter. In spite of a difficult economic climate in certain emerging markets, we have managed our loss ratio well by applying our expertise in risk management. In doing so, we are pursuing our path of profitable growth while protecting and supporting that of our clients.

Read More
10/28/2015
Country risk and economic studies

Infographics : The temperature of 14 sectors activity in the world

Discover our sector risk infographics on the temperature of 14 sectors activity in the world

Read More
10/28/2015
Country risk and economic studies

Focus on the future of solar energy in Europe: photovoltaics

Despite the strong domination of Chinese companies and overcapacity in Europe, the European market remains promising in the medium term.

Read More
10/20/2015
Country risk and economic studies

Quarterly sector risk assessments update

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
10/19/2015
Country risk and economic studies

Half year 2015 Insolvency Report: Poland continues on improvement track

Poland’s increased economic activity has already reached the levels required to stabilise the number of company insolvencies.

Read More
10/07/2015
Corporate news

Coface is awarded Best Trade Credit Insurer in Asia Pacific

Coface is awarded ‘Best trade credit insurer in Asia Pacific’ by GTR. GTR is the world’s leading news source, publisher and event organiser for the global trade, commodity, export and supply chain finance industries, with offices in London, Hong Kong and Singapore.

Read More
09/24/2015
Country risk and economic studies

Quarterly update of the Coface country risk assessments

Large and small emerging countries are experiencing strong turbulence

Read More
09/22/2015
Country risk and economic studies

Is a Chinese shadow cast over Asia?

China is trying to find a way to achieve healthier, more sustainable growth, but this is not completely painless for its economy – or for those of its neighbours. According to Coface estimates, growth is unlikely to exceed 6.7% in 2015 and 6.2% in 2016, compared with 13.4% over the period 2006-2007. This is mainly a result of the technological and capital catch-up process running out of steam: several industries are suffering from overcapacity and corporate indebtedness is high, thus impacting investment.

Read More
09/18/2015
Country risk and economic studies

How Gulf Cooperation Council countries (GCC) are dealing with falling oil prices

As oil continues to be a major contributor to economic performance in the GCC, economic diversification is vital for the Gulf countries to ensure continued healthy growth. This has been showcased in Saudi Arabia and the UAE, which are driving sustained GDP growth through significant government investment in non-oil sectors. In the UAE, the food and beverage sector is forecasted to grow by 36% between 2014 and 2019, while KSA’s automotive industry is slated to rise by 5.2% in 2015.

Read More
09/15/2015
Country risk and economic studies

Latin America: what life after the commodity burst?

Growth in Latin America has been slowing down since 2011. This lacklustre situation, caused by weak domestic fundamentals, has been exacerbated by cyclical factors experienced since the second half of 2014. In 2015 we have ob-served a further deterioration of this (...)

Read More
09/09/2015
Country risk and economic studies

Company insolvencies in Western Europe: a drop of 7% expected in 2015 but situation is contrasted

Company insolvencies in Western Europe have experienced two successive storms. The subprime crisis, which made insolvencies jump by an average of +11% in the twelve countries studied was, unsurprisingly, followed by (...)

Read More
09/01/2015
Corporate news

Coface appoints Yoshihiro Suchi as Country Manager of Coface in Japan

Yoshihiro Suchi has been appointed as Country Manager of Coface in Japan effective from 28 September 2015. Based in Tokyo, Yoshihiro will oversee the business development and the operations of Coface’s trade credit insurance and services activities in Japan.

Read More
08/12/2015
Country risk and economic studies

Marked improvement in the way Australian companies are managing credit and payment terms: Coface research

Coface warns Australian companies to avoid overextending themselves in a bid to win business in Asia (...)

Read More
08/04/2015
Corporate news

Coface appoints Andrew Ross as Regional Head of Coface Global Solutions in Asia Pacific

Andrew Ross has been appointed as Senior Vice President, Regional Head of Coface Global Solutions in Asia Pacific effective from 1 August 2015.

Read More
07/29/2015
Corporate news

H1-2015 results: Coface posts a profit of EUR 66 million in spite of an increase in claims in emerging countries

Since the end of last year, at the occasion of our periodic results publications, we have noted weaknesses affecting the macro-economic environment. The first half of this year confirms this trend, and it was marked by an increase in the frequency of claims, in particular in emerging markets. Given this context, we are publishing good quality half-year results. The Group thus confirms the robustness of its business model: product innovation and multi-channel distribution, while controlling risks and costs.

Read More
07/22/2015
Country risk and economic studies

The CEE automotive sector is highly dependent on foreign investments - but there are positive dynamics in domestic demand

The CEE region has become an attractive destination for investments by global car manufacturers. In 2014, 3.6 million vehicles were produced in Eastern Europe, equating to 21% of total EU production (...)

Read More
07/17/2015
Country risk and economic studies

Country risk map - 2nd quarter 2015

This map gives you a global overview of country risk assessments. Coface's methodology in assessing country risk uses macroeconomic expertise, comprehension of the business environment and microeconomic data collected over 70 years of payment experience.

Read More
06/29/2015
Corporate news

New appointments of Coface Risk Underwriting team in Asia Pacific Region

Coface appoints Victoria Ma as Executive Vice President, Chief Risk Underwriting Officer, Asia Pacific and
Xavier Farcot as Executive Vice President, Regional Risk Underwriting Director of Coface Global Solutions, Asia Pacific

Read More
06/29/2015
Corporate news

Coface appoints Thomas Yong as Executive Vice President, Chief Commercial Officer, Asia Pacific

Coface appoints Thomas Yong as Executive Vice President, Chief Commercial Officer for Asia Pacific Region with effective 29 June 2015.

Read More
06/29/2015
Country risk and economic studies

Sub-Saharan Africa: three East African economies are sheltered from the economic storm

Although growth was accelerated by the high prices of commodities on which sub-Saharan Africa is highly dependent, the region must now deal with the effects of falling oil prices. The 45 countries screened by Coface are affected to different degrees.

Read More
06/19/2015
Country risk and economic studies

Infographics : Country risk assessments June 2015

Discover in this new infographic which country risk assessments are upgraded or downgraded by Coface.
In addition: Focus on Sub-Saharan economies - Is the risk of bad economic weather high?

Read More
06/17/2015
Country risk and economic studies

Is India’s economic revival thanks to the Modi government?

In May 2015, the IMF highlighted India as “one of the bright spots in the global economy”, mainly due to more effective policies and the end of political uncertainty. Coface expects the country’s GDP growth to reach 7.5%. But to what extent have Modi’s reforms contributed to the recent pickup in growth? Are the improvements in the economy without risks?

Read More
06/15/2015
Product news

Launch of TradeLiner : Coface revamps its credit insurance offer for mid-market companies

With TradeLiner, Coface will soon be offering companies in 98 countries comprehensive services to protect their business activities in the event of the insolvency or late payment on the part of buyers: prevention of non-payment, collection of unpaid invoices and indemnification, if collection fails or takes longer than expected to complete.

Read More
06/01/2015
Country risk and economic studies

Coface Insolvency Monitor for Central and Eastern Europe: Economic perspectives improved but corporate challenges remain

Companies in Central and Eastern Europe have experienced turbulent times over the last few years. Economies were challenged by the contraction of private consumption, due to rising unemployment and the ongoing deleveraging process. They were also affected by the double dip recession of their main trading partner, the Eurozone. 2014 was a year of improvement for most CEE economies.

Read More
05/26/2015
Country risk and economic studies

Business insolvencies in France at the end of April 2015: The numbers continue to slowly improve, at -2.7% on a year

The favourable swing first seen in 2014 continues. The immediate rise in business insolvencies in the first four months was partly due to a catching up after the artificially low year-end data, because of the industrial action within the court system, which has however resurfaced in May.

Read More
05/26/2015
Country risk and economic studies

The end of milk quotas: New rules

April 1st 2015 marked the end of milk quotas in Europe, a regulatory tool imposed in 1984 in response to overproduction, leading to the so-called “butter mountain” and the “milk lake”. For the first time in 30 years, the market alone will determine the quantities of milk produced.

Read More
05/11/2015
Country risk and economic studies

Morocco: The emerging market challenge

The Moroccan economy demonstrated its resilience during the recent global economic crisis and the “Arab Spring”. In what is an increasingly unstable international environment, Morocco has proven to be highly stable.

Read More
05/05/2015
Corporate news

Coface begins 2015 with robust results: increased turnover and profitability in Q1

Jean-Marc Pillu, CEO of the Coface Group, commented: « 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
04/29/2015
Country risk and economic studies

70% of companies in the Asia-Pacific Region experienced overdue payments in 2014

Coface’s annual survey on Asia-Pacific region questioned 2,695 companies in 8 economies. 70% of the companies surveyed experienced overdue in 2014 - the highest level in 3 years.

Read More
04/15/2015
Country risk and economic studies

Has the US automotive sector shifted safely into top gear?

Following a 35% collapse when the crisis hit, car sales in the United States in 2014 were back at the levels they were at in 2007. The recent fall in oil prices (-48% in 2014) undoubtedly contributed to this. But the recovery of this sector so severely damaged in the crisis, is also being driven by two key factors.

Read More
04/15/2015
Country risk and economic studies

TWO SECTORIAL ASSESSMENTS UPDATED DUE TO IMPACT OF LOWER OIL PRICES

Following the clear improvement in sectorial risk in North America at the end of 2014 (3 sectors reclassified “low risk”: Textiles and Clothing, Transport and Chemicals), Coface has responded to the fall in crude oil prices by downgrading the Energy sector to “medium risk”.

Read More
04/14/2015
Corporate news

Coface announces the publication of its 2014 Registration Document

Copies of the 2014 Registration Document are available free of charge

Read More
03/26/2015
Country risk and economic studies

New infographics : worldwide risk map

Discover the new Coface infographics

Read More
03/26/2015
Country risk and economic studies

Quarterly updated country risk and business environment assessments

Coface upgrades country risk assessments of two European economies and places Brazil under negative watch

Read More
03/26/2015
Country risk and economic studies

Five advanced economies will avoid the risk of "secular stagnation" within the next decade

More than three years after the official recovery, advanced economies are struggling to return to a path of sustained growth. Some are even forecasting stagnant growth, a situation sometimes seen as irreversible.

Read More
03/23/2015
Corporate news

Holding a leading position in business information, Coface starts credit-insurance in Israel

Commenting on the Israeli license, Jean-Marc Pillu, Coface CEO, said:"Israeli businesses have been skilled at coping with fluctuations in the economic cycle and have today a healthy financial position. Coface's payment experience for the country is positive.

Read More
03/09/2015
Corporate news, Country risk and economic studies

CORPORATE OVERDUE PAYMENTS IN CHINA AT HIGH LEVELS: 80% OF CORPORATES AFFECTED IN 2014

A new Coface survey on corporate credit risk management in China reveals that 8 out of 10 corporates experienced overdue payments in 2014.

Read More
03/04/2015
Country risk and economic studies

Impact of lower international oil prices on Latin America

Latin America is a major producer of commodities and the recent drop in oil prices is impacting the region’s countries in different ways. Which countries could benefit from lower international quotations - and why are others negatively impacted?

Read More
02/19/2015
Corporate news

COFACE POSTS 2014 RESULTS IN LINE WITH OBJECTIVES AND PROPOSES DISTRIBUTION OF €0.48 PER SHARE

“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
02/02/2015
Product news

Offer your clients easy online credit insurance

Credit Insurance for non-specialized brokers

Read More
01/29/2015
Country risk and economic studies

2015 COUNTRY RISK CONFERENCE: IN 2015, THE GLOBAL RECOVERY WILL BE LABORIOUS AND SUBJECT TO MULTIPLE RISKS

The global economy is on the path of gradual recovery. Less vigorous than before the 2008 crisis, global growth continues to follow a moderately accelerating trend: +3.1% in 2015, after +2.8% in 2014 and +2.7 in 2013. Slight improvements are expected both in advanced countries (from +1.7% in 2014 to +2.1% in 2015) and in emerging countries (from +4.2% to +4.3%).

Read More
01/21/2015
Country risk and economic studies

Turkey: Depreciation in exchange rates and sluggish domestic demand affect corporate payment performance

Disclosure of the exit strategy by FED Chairman Ben Bernanke in May 2013 triggered a new period marked by a change in the risk perception towards developing economies in financial markets. Turkey entered this period with a high current accounts deficit, a production sector substantially dependent on imports and three successive elections.

Read More
01/20/2015
Country risk and economic studies

Middle East and North Africa region: What progress after the “Arab Spring”?

After a period of political and social turmoil, the economic activity is gaining strength in the Middle East and North Africa region. The growth is expected to stand at 2.6 percent in 2014 and to accelerate to 3.2 percent in 2015...

Read More
01/16/2015
Country risk and economic studies

Latin America - Growth picking up for Pacific countries

Three decades ago, Latin America was associated with negative terms such as ‘dictatorship’, ‘debt crises’ and ‘high inflation’. Over the years, the region has begun to be associated with economic growth, the new middle class, poverty reduction and controlled inflation.

Read More
12/31/2014
Corporate news

Coface is awarded ‘Best Provider of Trade Credit Insurance’ by CFO Innovation Asia for the second time in a row

Coface is awarded ‘Best Provider of Trade Credit Insurance’ by CFO Innovation Asia, an online publication exclusively for top-level finance managers in the corporate sector in Asia and China, for the second time back to back.

Read More
12/16/2014
Country risk and economic studies

Company insolvencies: a limited decrease

The number of company insolvencies over the past 12 months stood at 63,002 companies at the end of October. Coface registered a 0.9% fall over the year.

Read More
12/15/2014
Country risk and economic studies

“Low-flation” in France, the sign of a change in pace of growth

In a context of slow inflation (“low-flation”) and flat growth, France is in danger of not being able to escape the vicious circle of falling prices. Is it possible that France (...)

Read More
12/10/2014
Product news

Managing Unpaid Invoices

Coface trade credit insurance offers you a way to protect against losses resulting from unpaid invoices.

Read More
12/09/2014
Product news

Coface launches an innovative offering for SMEs: EasyLiner

Coface has developed a tailored SME offering with two aims in mind: protection and accessibility. EasyLiner provides quality cover adapted to the needs of SMEs, as well as an easy subscription process, leaving businessmen free to concentrate on their core business.

Read More
10/31/2014
Country risk and economic studies

Global Trade

Global trade: a return to pre-crisis levels is unlikely, but the potential for growth exists
Following thirty years of unprecedented expansion, global trade is experiencing a period of radical change. Is the slowdown a cyclical phenomenon or long-lasting and structural?
Since the economic crisis of 2008-2009, the rate of growth of international trade has been slowing down, affected first and foremost by a long-term fall in global growth...

Read More
10/21/2014
Product news

Bad Debt Protection & Recovery

While most businesses insure stock and other critical areas of the business, it is common to overlook one of the largest assets in the company, accounts receivable.

Read More
10/21/2014
Product news

International Debt Collection & Recovery

Coface clients can access a vast overseas partner network suitable for international debt collection and credit insurance coverage. Our clients have the security of knowing that our impressive, global debt collection and recovery facilities are at their disposal and can be used to ensure everything is done to collect all overseas debts. We have the largest collection network throughout the Asia-Pacific and operate worldwide. If your business exports goods on trade credit, access to our worldwide debt collection and recovery will be a great tool for credit management.

Read More
10/21/2014
Product news

Credit Insurance For Exports

Protect your transactions when exporting from Australia.
Trade Credit Insurance can be used to safeguard your export business from payment default and mitigate trade risk.

Read More
10/21/2014
Product news

Financial Risk Management

Trade credit risk is a common part of everyday business and the danger it can pose to finances is significant. In order to avert payment default, it is crucial to have a detailed financial risk management plan that protects your business from unsecured credit risk. Whilst risk is unavoidable it does not have to be unmanageable.
There are strategies that can be implemented to protect your business and ensure that strong credit management is in practice and that everything possible is done to avert, allay and indemnify against financial risk.
Offering open account to clients can be a safe business practice that increases sales and grows your client base, not another financial risk on the balance sheet.

Read More
10/21/2014
Product news

International Political Risk Management

Coface Trade Credit Insurance policies offer clients protection from the ongoing risk posed when operating elements of a business overseas. Your business can be safeguarded from hostile government actions, allowing risk mitigation and ongoing political risk cover.

Read More
10/01/2014
Country risk and economic studies

Panorama United Arab Emirates : A remarkable recovery after the debt crisis but financing needs still high

The UAE economy remains solid, supported by both the oil and gas sector and non-oil sector. The country’s diversification policy constitutes an important pillar of its economic performance, as it reduces its dependence on oil and supports the real economy.

Read More
09/15/2014
Corporate news

Is Australia facing worse payment behavior?

The 4th annual Survey of Corporate Credit Risk Management is conducting.

Coface economists compile a detailed report which will be provided free of charge as a token of appreciation for participating in the survey.

Read More
09/11/2014
Product news

Launch of CofaMove application: CofaNet goes mobile

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 is available for download at the Apple App Store and Google Play Store.

Read More
09/08/2014
Country risk and economic studies

Company insolvencies in Brazil: what to expect in the near future?

Restructuring and bankruptcy remain increasingly used procedures.
Activity in Brazil remains lacklustre, inflation above targets and interest rates are amongst the highest in the world. Various indexes show that confidence in Brazil remains down, while the low investment ratio continues to deteriorate.

Read More
09/03/2014
Country risk and economic studies

Romania at the front line of economic growth in 2013 – but will it catch up after the contraction in 2014?

Romania’s economic performance has made it one of the leaders in Europe’s recovery. Its growth has exceeded expectations, with GDP rising by 3.5% in 2013. Significant contributions came from the agricultural and industrial sectors, in particular from car production supplying mainly foreign customers. Although Romania will not continue this pace of growth in 2014, the outlook remains positive.

Read More
09/01/2014
Product news

Coface Credit Insurance

Credit insurance safeguards your company against the non-payment of trade debts, it provides critical information about customers & prospects, protects you from the risk of non-payment and promotes safe business growth.

Read More
09/01/2014
Product news

Credit Insurance for SMEs

Protects against unpaid invoices in Australia and abroad with Easyliner Credit insurance, specially designed for Australian companies with an annual sales turnover of A$750,000 – A$5,000,000.

Read More
08/25/2014
Corporate news

Coface strengthens organisation in Asia, with appointment of Hung Wong as Asia-Pacific Regional Manager

In line with its pursuit of a dynamic growth strategy in Asia, Coface has appointed Hung Wong to run its Asia-Pacific operations and to the group’s Executive Committee. Based in Hong-Kong, he will be able to draw on extensive regional experience and a strong track record in sales, channel management and partner development to grow Coface’s business in the region.

Read More
07/29/2014
Country risk and economic studies

Downgraded to A4, Brazilian economy gears towards a year of adjustments in 2015

Coface expects a considerable slowdown of GDP in 2014 (at +1.3% in 2014, down from +2.5% in 2013), due to household consumption growing at a slower pace, investments losing momentum and a weak trade balance. Coface considers 2015 to be a turning point, boosting GDP in the medium term.

Read More
07/29/2014
Corporate news

Results for the first half of 2014: Growth and profitability in line with guidance

Turnover growth of +1.8% on a like-for-like basis
Customer retention rate increased to 92.3% and production of new contracts
up +14%

Read More
07/28/2014
Corporate news

Appointments to the Coface Board of Directors

The Combined General Meeting of Shareholders of COFACE SA, which was held on 2 June 2014, appointed four new independent directors with effect from 1 July 2014, for a term of four year

Read More
07/25/2014
Corporate news

Serbia becomes 98th market for Coface’s credit insurance offer

Coface, a world-leading credit insurer, is enriching its offer in Serbia through a local partnership with Axa. From now on, in addition to debt collection and business information services, Serbian companies can benefit from Coface’s longstanding expertise in credit insurance and its international footprint.

Read More
06/25/2014
Country risk and economic studies

The Turkish economy - what to expect in 2014

Prior to the forthcoming presidential elections in August 2014, Coface is cautious in its assessment of corporate risks in Turkey. If political tensions rise again, as happened in December and January, investors may flee the country which could result in a fluctuation in Forex markets. Such a situation would negatively impact the corporate sector’s external debt stock, already at a record high.

Read More
06/25/2014
Country risk and economic studies

The UK upgraded to A2 due to the strength of its recovery

Affected in 2009 by a recession more intense than other European countries under the effect of a sharp drop in household consumption and investment, the British economy is currently distinguished by the strength of renewed growth (1.8% in 2013). Forecast at +2.7% in 2014 by Coface, it could be as dynamic as that of the United States and exceed Germany (2%).

Read More
06/12/2014
Country risk and economic studies

Coface notes an improvement in risks in Western Europe and in "new" emerging economies

The first quarter of 2014 confirmed the acceleration in global growth: according to Coface's forecasts, after 2.6% in 2013, growth will be close to 3% in 2014 and 3.3% in 2015. The eurozone (1.1% expected in 2014) is slowly but surely recovering from a serious double-dip. The US is showing dynamic and balanced growth (2.7% forecast in 2014), in spite of bad weather in January. A rebalancing of growth is therefore underway: advanced economies will contribute around a third of this (compared to only a quarter in 2013) and emerging countries two thirds.
It is in the context of this confirmed recovery that Coface has upgraded its assessments of several European and emerging economies.

Read More
05/29/2014
Country risk and economic studies

Coface forecasts a 13% drop in SME insolvencies in Spain and stabilisation in France in 2014

With comparable profiles in terms of entrepreneurial activity, Spain and France are following a worrying trend in terms of company insolvencies. However, SMEs in the two countries have evolved differently since the 2008-2009 crisis, and insolvency forecasts for 2014 further underline this divergence.

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05/21/2014
Country risk and economic studies

Survey reveals corporate overdue payment in Asia Pacific region stabilised in 2013

- Slowing growth of China remains a concern in 2014 -

According to the survey of credit risks management in Asia Pacific by Coface, corporate payment experience in the region generally stabilised. Companies in Australia and China suffered more non-payment. The growth slowdown in China remains a concern for other economies in the region in 2014.

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05/08/2014
Corporate news

New Appointments of Coface Commercial Team in Asia Pacific Region

Coface is expanding its commercial organisation in Asia Pacific Region to better serve the multinational clients and bank and financial institutions.

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05/06/2014
Country risk and economic studies

New paradigm for the electronics industry in Asia: clear dynamism, increased risks

Emerging Asia is the new epicentre of electronics innovation. Local companies are now counting on the internalisation of production and research. However, the dynamism of the sector faces new risks, as the gradual rise in unpaid invoices. In 2013, close to 3 out of 4 companies in the electronics & IT sector in Asia-Pacific experienced overdue payments.

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05/06/2014
Country risk and economic studies

Coface quarterly credit risks survey: 14 sectors in three major regions of the world

Sector risk stabilising in North America and Europe but becoming a source of concern in emerging Asia.

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05/01/2014
Product news

Offer your clients easy online SME Credit Insurance

Credit Insurance for non-specialized brokers

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03/27/2014
Country risk and economic studies

Coface identifies 10 emerging countries hot on the heels of the BRICS

After 10 years of frenetic growth, the BRICS are slowing down sharply: for 2014, Coface forecasts growth of on average 3.2 points lower than the average growth these countries registered over the previous decade.

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03/27/2014
Country risk and economic studies

Country risk assessments: United States one of best risks whilst major emerging economies struggle

The upturn in the advanced economies (1.9% forecast for 2014, after 1.2% in 2013) is reflected in the upwards revision of the country risk assessments for the United Kingdom and the United States, which join the best risk category.

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03/04/2014
Corporate news

2013 Annual Results

Good commercial dynamics and improvement in loss ratio

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02/28/2014
Country risk and economic studies

Corporate overdue payments in China at the highest level in last 3 years: 80% of corporates affected in 2013

- More pressure on financing market / shadow banking in China in spite of stable growth in 2014 -

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02/12/2014
Corporate news

Coface launches a direct offering in Colombia

As a leading credit insurer in Latin America, the Group now operates directly in 9 of the region’s countries.

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01/28/2014
Country risk and economic studies

China in 2014: stable growth with risks of financing and overcapacities. Risks remain in several sectors

2014 is a year of divergence for the Chinese economy, representing the diverging trends of macro and micro environments. Focus of 2014: rising cost of funds.

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01/21/2014
Country risk and economic studies

Country Risk Update: Favorable risk trends in advanced economies in 2014 but persistent tensions in large emerging countries

Coface Country Risk Update: Favorable risk trend in advanced economies in 2014 but persistent tensions in large emerging countries



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01/21/2014
Corporate news, Country risk and economic studies

Country Risk Conference 2014:<br>In 2014, favourable risk trend in advanced economies but persistent tensions in large emerging countries.

After a post-crisis readjustment between advanced and emerging countries, in 2014 global country risks are set to change in line with a more classic model.

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12/28/2013
Country risk and economic studies

Coface Quarterly ‘Panorama Sectors’ - Textiles

Positive changes in North America and Asia
Risks stabilise in Europe as the textile industry invests in innovation

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