Coface

As the world's largest importer, and second largest exporter of manufactured goods, the United States has had a trade deficit since the early 1970s. Using an analysis based on historical estimates of a potential trade balance, Coface estimates that the deficit could grow by 56 billion dollars as a result of the stimulus plan.

Coface is pleased to announce that Declan Daly has been appointed Chief Operating Officer of the Coface Group, effective as of April 1, 2021.

In 2020, and even if the real impact of the COVID-19 crisis remains uncertain, the number of insolvencies actually fell in all major European economies. According to our research, the gap between the expected deterioration of the companies’ financial health and the number of insolvencies suggests that there is a high number of “hidden insolvencies” that have been postponed, rather than prevented.

The COVID-19 pandemic’s negative impact on global GDP growth and global trade volumes has caused a sharp drop in oil prices in the spring of 2020. This price drop, even if temporary, has affected Middle Eastern and African oil exporters differently, in line with their national output’s dependence on oil, as well as their fiscal strength and international reserves. Although Coface expects oil prices to average USD 60 per barrel in 2021, their volatility will remain a challenge for producing countries.

The year 2020 was marked by the COVID-19 pandemic. In order to mitigate the impact of this difficult economic situation on Polish companies, various liquidity-supporting aid measures were introduced, such as tax and contribution exemptions and deferrals. As a result, despite the extensive economic crisis, payment delays between companies have shortened – however, with these aid measures are to be phased out in 2021, two thirds of companies expect their business activities to deteriorate this year.

The rating agency Moody’s, on 10th February 2021, has confirmed the financial strength rating (Insurance Financial Strength – IFS) for Coface at A2. The agency has also raised the outlook for Coface, which is now stable.

Coface releases its FY 2020 Financial Results.

Following the change in the shareholder base and the arrival of Arch Capital Group Ltd. in Coface's capital, COFACE SA's Board of Directors is evolving. Bernardo Sanchez Incera has been appointed Chairman of the Board of Directors.

In its latest quarterly Barometer and on the occasion of the publication of the country and sector risk guide, Coface highlights an uneven recovery across countries, sectors of activity and income levels.

Coronavirus containment measures are leading to social unrest in many countries, especially in the Netherlands and in Germany. Watch our video to learn more.

This year at our Country Risk Conference: 3 round tables to embrace the new business risks in a post-covid world.

After nine months of tense negotiations, the UK and the EU finally struck a post-Brexit agreement. Watch our video to learn some of the key points of the deal.

Dutch State extends guarantee with Credit insurers by six months from the first of January 2021.

Happy new year from everyone at Coface !

With a view to support the Italian economy during this unprecedented sanitary and economic context, the Italian Government has set up a reinsurance programme to support the guarantees provided by credit insurers in the field of supplier credits.