Paris, 19 October 2018 - 17h45
AM Best assigns A (Excellent) rating to Coface North America Insurance Company, with stable outlook
Rating agency AM Best has just assigned Coface North America Insurance Company the 'A' (Excellent) Insurer Financial Strength (IFS) rating, with stable outlook.
Coface North America Insurance Company (CNAIC) is a major credit-insurance operating entity of the Coface Group and its main vehicle to access the large North American market.
In its press release, AM Best highlights that this rating reflects "Coface's balance sheet strength, which A.M. Best categorises as very strong, as well as its adequate operating performance, favourable business profile and appropriate enterprise risk management".
While the rating agency classifies the Coface Group as a mono-line insurer, it highlights its good diversification by geography and business sector. The agency believes the Group benefits from its market leading position within the global credit insurance sector and underlines Coface's growing revenues from fee-based services.
AM Best views positively the "introduction of a new three-year strategic plan titled Fit to Win", which focuses on "operational efficiencies and value creation rather than pure business growth".
| CONTACTS | |
| MEDIA RELATIONS Monica COULL T. +33 (0)1 49 02 25 01 monica,coull@coface,com Maria KRELLENSTEIN T. +33 (0)1 49 02 16 29 maria,krellenstein@coface,com | ANALYSTS / INVESTORS Thomas JACQUET T. +33 (0)1 49 02 12 58 thomas,jacquet@coface,com Ana Cecilia URIBE ARCE DE BREANT T. +33 (0)1 49 02 22 40 anacecilia.uribearce@coface,com |
FINANCIAL CALENDAR 2018 (subject to change)
9M-2018 results: 24 October 2018, after market close
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 S1-2018 and our 2017 Registration Document.
Coface: for trade - Building business together
70 years of experience and the most finely meshed international network have made Coface a reference in credit insurance, risk management and the global economy. With the ambition to become the most agile, global trade credit insurance partner in the industry, Coface's experts work to the beat of the world economy, supporting 50,000 clients in building successful, growing and dynamic businesses. The Group's services and solutions protect and help companies take credit decisions to improve their ability to sell on both their domestic and export markets. In 2017, Coface employed ~4,100 people and registered turnover of
€1.4 billion.
COFACE SA is quoted in Compartment A of Euronext Paris
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 Coface Group's 2017 Registration Document filed with AMF on 5 April 2018 under the number No. D.18-0267 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group's businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.
