Compagnie Française d'Assurance pour le Commerce Extérieur is a French insurance company that specializes in providing coverage for international trade. It was founded in 1922.
The company's history dates back to the early 20th century, when international trade was becoming increasingly complex. This complexity created a need for specialized insurance services.
Compagnie Française d'Assurance pour le Commerce Extérieur has since become a leading provider of insurance solutions for international trade, offering a range of products and services to its clients. Its expertise spans multiple sectors, including shipping, logistics, and commodities trading.
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History and Creation
After the Second World War, the French government reformed the system of export accompaniment, deciding to separate the granting of credits and credit insurance. This led to the creation of Coface as a specialized insurance company for export credit insurance.
Coface was tasked with covering all commercial and political risks in export, and its double mandate included assuring risks for the state and its own commercial risks.
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From 1946 to 1966, Coface became a crucial part of the export process, with its guarantee often deciding whether a contract was concluded or not.
In 1996, Coface acquired the German credit insurer AK, and in 1997, it acquired the Austrian credit insurer OKV.
By 2002, Natexis Banques Populaires had become the majority shareholder of Coface, and the company also acquired the Continental portfolio in the United States that same year.
Coface became a 100% subsidiary of Natixis in 2006, which is a bank that provides financial services, investment, and asset management.
In 2014, Coface listed on the Paris Stock Exchange, and in 2017, the company's public guarantee activities were transferred to Bpifrance, marking the end of its activities for the French state.
In 2018, Coface acquired PKZ, the leading credit insurance company in Slovenia, and in 2020, it acquired GIEK Kredittforsikring AS to strengthen its position in the Nordic European market.
Company Overview
The Compagnie Française d'Assurance pour le Commerce Extérieur, or Coface, is a leading insurance company that specializes in credit insurance. They've been around since 1999, and their main focus is on covering risks related to international trade.
In 2011, Coface refocused its activities on its core business, which is credit insurance. This move allowed them to streamline their operations and concentrate on what they do best. The company has a strong presence in emerging markets, particularly in Latin America and Asia-Pacific, where they're the top credit insurer.
Coface has a large network of partners and a presence in over 95 countries. They're part of the CreditAlliance, a network of 77 specialists in credit insurance. This global reach allows them to offer their services to businesses across the world.
Here are some key statistics about Coface's activities:
- 85% of an operation's value can be financed.
- Exportations of commerce courant reached 220 billion francs in 1997.
- Exportations of grand contrats reached 63 billion francs in 1997.
- 30% of grand contrats were concluded by small and medium-sized enterprises.
Key Figures
In 2024, the company's net profit was a significant 136.69 million euros, marking a substantial 79.73% decrease from the previous year.
The company's total assets stood at 5.28 billion euros in 2024, representing a 1.62% decrease from the previous year.
The capital social or individuel increased by 3.26% in 2024, reaching 1.16 billion euros.
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Provisions also saw a 3.27% increase in 2024, reaching 2.48 billion euros.
Here are the key figures for the company's net profit and total assets over the past four years:
The company's net profit saw a significant increase in 2023, reaching 674.4 million euros, representing a 413.14% increase from the previous year.
The total assets also saw a significant increase in 2023, reaching 5.37 billion euros, representing a 6.35% increase from the previous year.
Market Position
The Coface company is a significant player in the global credit insurance market, holding around 19% of the market share in 2014. This is a notable position, especially considering the dominance of three major players in the market.
Euler Hermes, a part of the Allianz group, Atradius, and Coface are the top three companies in the credit insurance market, accounting for approximately 80% of the global market share.
The company has a strong presence in emerging markets, which contribute significantly to its performance. In fact, Coface is the leading credit insurer in Latin America and the Asia-Pacific region.
Here are some key statistics on the Coface company's market position:
Financial Performance
Compagnie Française d'Assurance pour le Commerce Extérieur has seen significant growth in its financial performance over the years. The company's net result has been steadily increasing, reaching 674.4 million euros in 2023, a 413.14% jump from 2022.
The company's profitability has also improved, with an economic return of 12.56% in 2023, up from 2.6% in 2022. This increase in profitability is a testament to the company's ability to manage its finances effectively.
Here are the key financial performance indicators for Compagnie Française d'Assurance pour le Commerce Extérieur:
The company's financial performance has been impacted by various factors, including changes in market conditions and economic trends. Despite these challenges, Compagnie Française d'Assurance pour le Commerce Extérieur has managed to maintain a strong financial position, with a total asset value of 5.28 billion euros in 2024, a decrease of 1.62% from 2023.
The company's capital social or individuel has also seen growth, increasing by 3.26% in 2024 to reach 1.16 billion euros. This increase in capital will help the company to further improve its financial performance and achieve its strategic objectives.
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Development and Privatization
Coface expanded internationally through internal and external growth, acquiring credit insurance companies or creating new subsidiaries or branches.
In 1992, Coface took a stake in La Viscontea, an Italian company providing credit insurance and guarantees. The same year, Coface developed a network of partners.
Coface was privatized in 1994.
The company's international expansion continued with the opening of offices in Egypt in 2008, Vietnam and Gabon in 2009, and Russia in 2010.
Coface faced significant losses in 2009 due to the 2008/2009 financial crisis, with a loss of 163 million euros.
Activities and Services
Coface offers a range of activities and services that cater to the needs of businesses. Their primary focus is on insurance and credit, making them a leading provider in this field.
Coface is a specialist in credit insurance, which helps businesses protect themselves against non-payment risks. This service is particularly useful for companies that export goods or services.
Their expertise extends to other areas such as debt collection, business information, factoring, and guarantees. These services are designed to help businesses manage their finances more effectively and mitigate risks.
In addition to these services, Coface also provides economic research and analysis, which helps businesses make informed decisions. They have a strong presence in emerging markets, where they have seen significant growth and success.
Here's a breakdown of Coface's main activities and services:
- Insurance and credit
- Debt collection
- Business information
- Factoring
- Guarantees
- Economic research and analysis
News and Events
In 1997, French exportations of commerce courant reached 220 billion francs, with a significant portion coming from small and medium-sized enterprises. These businesses are also benefiting from the exportations of large contracts, which accounted for 63 billion francs in 1997.
A notable 30% of these large contracts were concluded by small and medium-sized enterprises, and they also participate in contracts concluded by large companies through schemes of subcontracting.
The Compagnie Française d'Assurance pour le Commerce Extérieur (Coface) provides insurance coverage for risks related to international trade, but it does not grant loans.
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French Company's Annual Trade Finances
Compagnie Française d'Assurance pour le Commerce Extérieur's annual finances show a significant fluctuation in profits over the past few years. The company reported a net loss of 136.69 million euros in 2024, representing a 79.73% decline from the previous year.
In 2023, the company saw a significant increase in profit, with a net gain of 674.4 million euros, a 413.14% jump from 2022. This substantial growth suggests a successful year for the company.
The company's total assets decreased by 1.62% in 2024, reaching 5.28 billion euros. This decline follows a 6.35% increase in total assets in 2023.
The company's capital social or individuel increased by 3.26% in 2024, reaching 1.16 billion euros. This growth follows a 26.16% increase in 2023.
Here's a breakdown of the company's financial performance over the past few years:
The company's provision also increased by 3.27% in 2024, reaching 2.48 billion euros. This growth follows a 12.4% increase in 2022.
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