Coface publishes CEE Top 500 companies: Do external risks overshadow long-lasting solid economic growth in Central and Eastern Europe?09/18/2019
The international credit insurance company presents its eleventh annual study on the biggest 500 companies in Central and Eastern Europe – the Coface CEE Top 500. It ranks businesses by their turnover and additionally analyses further facts such as the number of employees, the framework of the companies, sectors and markets as well as the new Coface company credit assessments. The economic development of the CEE Top 500 is representative of the market trend in the entire region.
Coface capitalizes on its strategic successes and launches Build to Lead, its new 2023 strategic plan02/28/2020
The strategic plan Build to Lead is based on strong beliefs: credit insurance is an attractive service business, with strong barriers to entry and growth potential where Coface has strong capabilities which it will seek to deepen: its skills, scale and agility.
This new plan will broaden and deepen ongoing transformations at Coface to be recognized as a leader in its industry. It includes two types of initiatives to drive the business forward: the first for the core credit insurance business and the second for the specialty businesses that can leverage its capabilities and know-how.
AM Best assigns A (Excellent) rating to Compagnie française d'assurance pour le commerce extérieur and to Coface Re SA02/25/2020
Rating agency AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) to Compagnie française d'assurance pour le commerce extérieur (la Compagnie) and to Coface Re. Both ratings have a stable outlook.
The agency has also affirmed the FSR of Coface North America Insurance Company (CNAIC) to A (Excellent). The outlook remains stable.
COFACE SA (“COFACE”) acknowledges the announcement made by Natixis of its sale of 29.5% of the share capital of COFACE to Arch Capital Group Ltd (“Arch”) as well as Arch’s affirmed support of COFACE’s current management and of its new 2023 strategic plan Build to Lead.
Natixis has stated its intention to resign from COFACE’s Board of Directors after the closing of the transaction. Natixis also specified that its agreement with Arch states that, on this date, COFACE’s Board of Directors will be composed of ten members comprising four members proposed by Arch and six independent directors (including the current five independent directors).
Coface Romania Study: Insolvencies in Romania decreased by 22% in 2019 compared to previous year, reaching its lowest level over the last decade02/20/2020
The majority of insolvencies were registered in the wholesale and distribution sector followed by the constructions and retail sectors
The most recent Coface Romania study shows that in 2019 there were 6,384 insolvent companies, -22% less compared to the level registered in the previous year. The data also indicate a gradual decrease of insolvent companies with revenues over EUR 0.5 million (medium and large companies). The latter reached 444 companies during 2019, below the average of 550 over the last three years. This evolution was also reflected in the decrease of financial losses of only RON 4.6 billion in 2019, half of the average for the last three years.