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Coface records a good start to the year with a net income of €56.4m

Published

2021

Wed

28

Apr

Xavier Durand, Coface CEO, commented:

“Our first-quarter results reflect our continued strong operating performance and an exceptional environment, where the number of bankruptcies has declined. We anticipate that bankruptcies will increase again once the health crisis is over and special measures to support the economy are phased out.

In the context of a vigorous economic rebound, but one that is varying widely by sector and by region, we are supporting our clients' business recovery. This is reflected in a 2.7% increase in our exposures during the first quarter, while our preventive actions are back to pre-crisis levels. At the same time, we continue to cooperate with governments to support the withdrawal of governmental schemes, under which we paid €15m in the first quarter.

Finally, we are continuing to implement our strategic plan and to strengthen our operational efficiency and the quality of service we provide to our customers with the appointment of a Group Operations Director."

 

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Accident Cover:

Accident cover can be taken out as either a separate policy or as a rider benefit on a life assurance policy. It insures you against the effects of accidents or violent situations in which you may lose a limb, your eyesight, your hearing or even your life. It differs from disability cover in that should you for instance lose a limb and you are not permanently disabled; you will still be paid out the benefits of the policy.
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