Coface appoints Christina Montes De Oca to lead its North America region Paris, 15 September 2025 – 17.45 Coface announces the appointment of Christina Montes De Oca as the new CEO in North America Region, with effect from today. Christina joins the Executive Committee and reports to Xavier Durand, Group CEO. She takes over Oscar Villalonga who is pursuing his career outside the Group. Christina brings a wealth of experience in commercial strategy, business development, and sales operations within the tra ...

Core Points - Coface has released its half-year financial report for 2025, which is now available on its website and filed with the French financial market authority [2][3] - The report can be requested free of charge by contacting the company directly [2] - Coface is a leading player in trade credit risk management, serving around 100,000 clients across approximately 200 markets [7] - In 2024, Coface employed over 5,200 people and recorded a turnover of approximately €1.845 billion [8] Financial Information - The financial calendar indicates that the 9M-2025 results will be announced on November 3, 2025, after market close [4] - Regulated documents and integral regulatory information can be accessed on the Coface website [5] - The authenticity of the regulated documents is secured through blockchain technology [6]

Core Insights - Coface has signed an agreement to acquire 100% of Novertur International SA, enhancing its Business Information services in Switzerland [1][3]. Company Overview - Novertur International SA is a Swiss startup based in Lausanne, known for its digital expertise in managing data on Swiss companies through its platform business-monitor.ch, which has been operational since 2016 [2]. - The platform provides access to information on over 730,000 active Swiss businesses, serving as a vital tool for SMEs and large companies for risk management and B2B prospecting [2]. Strategic Implications - The acquisition will combine Novertur's technological innovations in data structuring and user experience with Coface's credit risk expertise, significantly enhancing Coface's Business Information offerings in Switzerland [3]. - This move aligns with Coface's strategic plan "Power the Core," aimed at improving high value-added services and strengthening local presence [3]. Leadership Commentary - Florent Schlaeppi, CEO and Founder of business-monitor.ch, expressed that joining Coface presents an opportunity to elevate their mission by leveraging their technology within a global player in business risk [4]. - Christian Moins, Country Manager of Coface Switzerland, highlighted that this acquisition reinforces Coface's ambition to be a key player in Business Information and strengthens its position in the Swiss market [4].

Core Insights - Coface has received "in principle approval" from Lloyd's to establish a new short-term trade credit syndicate, managed by Apollo Syndicate Management, expected to commence underwriting in 2025 [1][2] - The new syndicate, named Coface Lloyd's Syndicate 2546, aims to provide AA-rated solutions to better serve specific market segments and is seen as a valuable addition to Coface's offerings [2][3] - Coface's CEO, Xavier Durand, emphasized that the creation of this syndicate aligns with the company's strategic plan to enhance credit insurance support and develop a global ecosystem for credit risk management [3] Company Developments - The establishment of the syndicate reflects Coface's commitment to expanding its range of solutions and capitalizing on the growth potential for credit insurance at Lloyd's [2][3] - David Ibeson, CEO of Apollo, expressed enthusiasm about the partnership, highlighting the combination of Coface's expertise in trade credit and Apollo's innovative syndicate-building capabilities [4] Market Context - The new syndicate is positioned to tap into significant profitable growth potential for credit insurance solutions within the Lloyd's market, indicating a strategic move to enhance market presence [2][3] - Coface's long-standing experience in trade credit risk management, serving around 100,000 clients across 200 markets, positions it well to leverage this new opportunity [14]

Core Insights - Coface has received "in principle approval" from Lloyd's to establish a new short-term trade credit syndicate, managed by Apollo Syndicate Management, expected to commence underwriting in 2025 [1][2] - The new syndicate (Coface Lloyd's Syndicate, 2546) aims to provide AA-rated solutions, enhancing Coface's offerings and addressing market needs, with significant growth potential in credit insurance solutions at Lloyd's [2][3] - The initiative aligns with Coface's strategic plan, "Power The Core," which focuses on strengthening its core expertise in credit insurance and developing a global ecosystem for credit risk management [3] Company Overview - Coface is a leading player in trade credit risk management, serving approximately 100,000 clients across 200 markets, offering a range of solutions including Trade Credit Insurance, Business Information, and Debt Collection [14][15] - In 2024, Coface reported a turnover of €1.84 billion and employed around 5,236 people, indicating its significant presence in the industry [15] Partnership and Support - Apollo Group CEO expressed enthusiasm about the partnership with Coface, highlighting the combination of Coface's trade credit expertise and Apollo's innovative syndicate-building capabilities as beneficial for the Lloyd's market [4] - Gallagher Re provided support and advice throughout the establishment process of the new syndicate, showcasing its role as a full-service global reinsurance broking and advisory firm [2][7]

Core Insights - Coface has successfully completed the acquisition of Cedar Rose Group, a prominent provider of information services in the Middle East, enhancing its data capabilities in a region with challenging information access [2][3]. Company Overview - Cedar Rose has over 25 years of experience and is recognized for its high-quality business information solutions in the Middle East and Africa, serving various multinational clients [2]. - The acquisition allows Cedar Rose to become Coface's information provider for both credit insurance and information services, benefiting all Coface customers with improved data [3]. Strategic Alignment - This acquisition aligns with Coface's strategic plan, "Power the Core," which emphasizes data excellence and aims to strengthen information production capabilities in areas where data is scarce [3].

Core Insights - Coface is enhancing its strategic focus on data and innovation by establishing a dedicated technological hub aimed at improving data, connectivity, and product innovation [1][4] - The company has appointed Joerg Diewald as the new Information Services and Partnerships Director to drive business development in these strategic areas, effective July 1, 2025 [2][5] - CEO Xavier Durand emphasized that these governance changes align with the strategic plan "Power The Core," which aims for data and technology excellence and profitable growth in Information Services [3][4] Company Developments - The newly created technological hub will be led by Thibault Surer, who will also continue to oversee Strategy, Economic Research, Marketing, and Mergers & Acquisitions [1][3] - Joerg Diewald brings over 30 years of international experience in banking, commercial finance, and risk management, previously serving as Chief Commercial Officer at Solarisbank AG [5][6] - The governance enhancements are intended to address the complexity and scale of transformations required in data and innovation [4]

Core Viewpoint - AM Best has affirmed the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of 'a+' (Excellent) for Coface and its main operating subsidiaries, indicating a stable outlook for these ratings [2][3]. Group Performance - The ratings reflect Coface group's very strong balance sheet strength, strong operating performance, favorable business profile, and appropriate enterprise risk management [3]. - Coface's consolidated risk-adjusted capitalization is assessed at the strongest level according to the Best's Capital Adequacy Ratio (BCAR) score [3]. Market Position - Coface holds a leading position in the global credit insurance market, characterized by high barriers to entry, which supports its strong ratings [5]. Future Outlook - AM Best acknowledges that the group's prospective performance may experience volatility due to an uncertain global operating environment, but expects cross-cycle performance metrics to remain supportive of the strong assessment [4].

Core Points - The Combined Shareholders' General Meeting of COFACE SA was held on 14 May 2025, where all proposed resolutions were approved [1][2] - A dividend of €1.40 per share for the 2024 financial year was approved, with the coupon date set for 20 May 2025 and the payment date for 22 May 2025 [2] Company Overview - COFACE SA is a global leader in trade credit risk management, providing services to approximately 100,000 clients across around 200 markets [6] - In 2024, COFACE employed approximately 5,236 people and reported a turnover of €1.84 billion [7] Financial Calendar - The financial calendar for COFACE SA includes the H1-2025 results scheduled for 31 July 2025 and the 9M-2025 results on 3 November 2025 [3]

Core Insights - Coface reported a net income of €62.1 million for Q1-2025, resulting in a return on average tangible equity (RoATE) of 12.7% [2][22] - The company experienced a 2.1% increase in total revenue, reaching €473.2 million compared to Q1-2024 [5][8] - The uncertain international trade environment, particularly due to shifting US policies, is impacting global trade volumes and creating challenges for businesses [3][23] Financial Performance - Insurance revenue increased by 1.1% to €382.9 million, while other revenue rose by 6.2% to €90.3 million [5][6] - Current operating income decreased by 14.2% to €91.6 million, and net income (group share) fell by 9.2% compared to Q1-2024 [5][21] - The combined ratio net of reinsurance increased to 68.7%, up 5.6 percentage points year-on-year [7][17] Regional Performance - Turnover in Northern Europe decreased by 0.8%, while Western Europe saw an increase of 4.7% [12][13] - Latin America experienced significant growth, with turnover up 16.0% at constant FX, driven by high inflation [16] - Asia-Pacific turnover increased by 2.7%, benefiting from high client retention and slight activity growth [16] Risk Management and Strategy - Coface is maintaining a preventative stance in its risk portfolio, which is diversified across regions and sectors [2][4] - The company is investing in understanding short-term risks and enhancing its service offerings, particularly in Business Information and Debt Collection [4][25] - The uncertainty surrounding international economic policy is leading to delayed investment decisions and affecting economic growth [23][24]