de_DE fr_FR zy_ZY
Algeria
Argentina
Australia
Austria
Belgium


COFACE WEST AFRICA BENIN
47-48 Quartier Guinkomey
7565 Cotonou 01

Tel./Fax: + 229 21 31 65 89
e-mail: commercial_bn@coface.com

Benin
Brazil
Bulgaria

COFACE WEST AFRICA BURKINA FASO 
Secteur 05, 1268, avenue Kwamé N'Krumah
01 BP 3240 Ouagadougou
Tel./Fax: +226 50 33 01 13

Cell.: +226 70 28 30 68
e-mail: coface_westafrica@coface.com
Office manager: djeneba_ouedraogo@coface.com
Managing director: philippe_hoeblich@coface.com
Burkina Faso


COFACE SERVICES WEST AFRICA CAMEROON

Imm. BICEC - 4ème étage
Avenue de Gaulle Bonanjo
BP 18342 Douala
Tel.: +237 33 42 51 53
Fax.: +237 33 42 00 96

Cameroon
Canada
Chile
China
Colombia
Costa Rica
Croatia
Czech Republic
Denmark
Ecuador
Egypt
Estonia
France



COFACE GABON SERVICES
Immeuble DIAMANT
2è étage
BP 1070
Libreville
Tel. : + 241 05 03 69 05
Fax : + 241 76 13 50
Email : coface_westafrica@coface.com

Gabon
Germany



COFACE GHANA

Ghana
Hong Kong
Hungary
India
Ireland
Israel
Italy

COFACE SICR COTE D'IVOIRE
2 Cocody Plateaux
Lot n°85 Ilot 9
18 Abidjan
Tel.:+ 225 22 41 49 68
Fax.:+ 225 22 41 48 49
Ivory Coast
Japan
Latvia
Lithuania
Luxembourg

COFACE SERVICES MALAYSIA SDN BHD
CP 17, Suite 1304 13th Floor,
Central Plaza, 34 Jalan Sultan Ismail
50250 Kuala Lumpur
Tel.:+60 (3)  2141 3380
Fax.:+60 (3) 2141 3381
e-mail:
enquiries@coface.com.my
Malaysia



COFACE WEST AFRICA MALI
Imm. Dramane Kouma
Av Cheick Zahed
BP E 4770 Bamako
Tel./Fax : +22 32 29 26 45

Mali
Mexico
Morocco
Netherlands

COFACE NORWAY
Postboks 2006 Vika
0125 Oslo

Norway
Peru
Poland
Portugal
Romania
Russian Fed.


COFACE SICR SENEGAL

43, rue Albert Sarraut
Immeuble AGS Parchappe
BP 12454 Dakar
Tel: +221 33 823 69 92
Fax.: +221 33 842 08 87

Senegal
Serbia
Singapore
Slovakia
Slovenia
South Africa


COFACE SERVICES KOREA CO LTD
Kyobo Life Insurance Bldg. 9F
1 Jongno 1-ga, Jongno-gu
Seoul 110-714
Tel.:+82 (0)2 2088 7401 
Fax.:+82 (0)2 2088 7474
e-mail: jinhak_ryu@coface.com

South Korea
Spain
Sweden
Switzerland
Taiwan


COFACE HOLDING (THAILAND) CO LTD
622 Emporium Tower, 22th Floor
Sukhumvit 24, 
Klongtoey
10110 Bangkok
Tel.: +66 (02) 664 89 89
Fax.: +66 (02) 664 89 98
e-mail: marketing_thailand@coface.com

Thailand


COFACE WEST AFRICA TOGO
22, Boulevard de la Paix
Immeuble ERAD
Quartier Super TACO
BP 899 Lomé
Tel./Fax: +228 220 89 58

Togo
Turkey
UAE
Ukraine
United Kingdom
United States

COFACE VIETNAM SERVICES

Suite 1719, 17th floor, Gemadept Tower,
N°6, Le Thanh Ton Street, 1st District
Ho Chi Minh City
Tel: +84 8 62 556 928
Fax: +84 8 62 556 801
e-mail: coface_vietnam@coface.com 

Vietnam

Coface in Figures



In 2011, Coface combined profitability and growth thanks to a steep rise in its turnover, stability in its claims ratio and good cost controlling measures.

 

Accelerated rise in turnover

Turnover from strategic entities rose significantly from 2010 to 2011 at the rate of 7.4% - higher than the average of 5% observed between 2006 and 2010. Insurance grew considerably (+7.1%), thanks to sustained commercial activity, a new record level of production (200 million euros) and a remarkable rate of customer loyalty (91% in 2011 versus 86% in 2010). Factoring in Germany and Poland, countries where Coface ranks respectively as number 1 and number 2 in the market, continues to surge (+11.8%) because of the strong synergies with credit insurance.


COnsOlidAted turnOver

(in million euros)

Total turnover

Insurance and factoring turnover

 

The group's seven geographic platforms all contributed to this performance, with double-digit growth for the platforms which encompass emerging countries: Latin America (+11.4%), Asia Pacific (+12.4%) and Central Europe (+20.2%).


increase in turnover by platform


Stable loss ratio

The ratio of claims to premiums (net of reinsurance) was 57% in 2011, compared with 57.2% in 2010. The reversal that occurred in the business cycle in the second quarter of 2011 caused a major change in companies' payment behaviour with a tangible rise in non-payments (61% in H2 versus 55% in H1). For the entire year, Coface recorded a 27% upswing in payment incidents around the world, with a particularly pronounced jump (47%) for Southern European businesses.

Net loss ratio


Drop in cost ratio

The cost ratio (net of reinsurance) finished at 25.2%, an improvement of 2.5 points attributable in large to rigorous management of the Group's spending.


Net cost ratio


An improved combined ratio

The combined ratio (net of reinsurance) improved thanksto firm management of costs and risks.



Combined ratio net of reinsurance


Steep rise in net income

The Group's growth is profitable. Net current income grew by 21% over 2010 to reach 121 million euros in 2011.

 

Net current income


Increasing financial soundness

The Group shareholders' equity reached 1,465 million euros, marking a rise of 5.7% compared with the end of 2010. This progress was accompanied by rapid debt reduction. Indeed, the rate of debt reduction was down to 1% at the end of 2011, versus 43% at the end of 2009. The ratings assigned to Coface by Fitch (AA- with a stable outlook) and Moody’s (A2 with a stable outlook) were confirmed, reflecting the Group's competitive positioning in the international credit insurance market. Furthermore, the Group is taking proactive measures to prepare for the future Solvency II regulations which will apply to all insurance companies in Europe in 2014. It aims to improve its performance by meeting the requirements of the reform, notably with regard to equity, risk management and reporting.

 

Shareholder's equity

 


Fitch
(03rd may 2012)

AA-
Stable outlook
Moody's
(01st june 2012)
A2
Stable outlook