Coface reports strong start to year with net income up 10%, despite decline in turnover.

From GlobeNewswire: 2024-08-05 11:36:00

Coface reports a strong start to the year, with net income of €142.3m, up 10%. Turnover at €923m, down -3.1% at constant FX. Credit insurance premiums down -5.3%, client activity slightly negative. Information services and debt collection see double-digit growth. Combined ratio at 63.4%, solvency ratio at 195%.CEO Xavier Durand praises disciplined strategy execution and resilient results. Turnover down -3.1% due to decline in insurance revenues, offset by growth in service revenues. Combined ratio at 63.4%, net income at €142.3m, with high solvency ratio of 195%. Key figures: Total equity at €2,002.9m, combined ratio at 63.4% for H1-24. Loss ratio at 35.0% and cost ratio at 28.4%.



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