Advertise Here
Icon

Directory

IconActuaries
IconAdministration Outsourcing
IconAsset Managers
IconAssociations & Institutes
IconAuditors
IconBanking
IconBBBEE Consulting and Verification Agencies
IconBusiness Chambers
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCompliance
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconCurrencies
IconDebit Order Collection Facilities
IconEducation and Training
IconFAIS
IconHuman Resources
IconInformation Technology and Software Partners
IconInvestment Consulting
IconInvestment Fund Managers
IconLegal
IconLISPs
IconListed Equities
IconOmbud
IconParticipation Bond Managers
IconPolicy Administration
IconPolicy Trading
IconProperty Unit Trusts (PUTS)
IconPublications
IconRegulatory Authorities
IconStock Exchange
IconSurveys and Research
IconTraining Courses & Workshops
IconUnit Trust Fund Managers
IconWellness Programs
Image
  Subscribe To »

COFACE SA: Review of the credit insurance sector by Moody's

Published

2020

Fri

27

Mar

The  rating  agency  Moody's  confirmed  Coface’s  Insurance  Financial  Strength  (IFS)  A2  rating  on

27 March 2020. The outlook for this rating has been changed to negative.

 

 

As part of its credit insurance sector review, the agency estimates that the progression of the coronavirus epidemic, and the measures taken by governments to slow its spread, represent a scenario of severe stress for credit insurers.

 

The confirmation of Coface’s A2 rating reflects Moody's confidence in the resilience of credit-insurers thanks to their ability to revise short-term risks, and their financial stability. It also underlines the mechanisms implemented by many governments to support SMEs, which could reduce the cost for credit insurers.

 

As a reminder, at the end of 2019, Coface benefited from a solvency ratio of 190%, higher than its target area of

155% -175%. Furthermore, and very early in the crisis, Coface significantly reduced the risk of its investment portfolio, which is currently made up of 22% liquidity compared to around 7% at the end of 2019. The fall in the

financial markets has therefore not caused a reduction in solvency greater than the sensitivities communicated by

the group.

 

In this uncertain period, Coface is working more closely than ever with its customers, and is taking multiple preventive actions on its risk portfolio.

 
Source: Coface
 
« Back to previous page Print this page » |
 

Breaking News »

Coface Shows Solid Q1 Operational Performance

France-based international credit insurer Coface has reported solid Q1 results with positive net income of €12. 7m on a 0. 9% increase in turnover to €370m. Xavier Durand, Coface CEO, said the ...
Read More »

  

Life Annuity Sales Soar Amid Lockdown Losses

Cape Town, 19 May 2020: Amid the market instability brought on by COVID-19, retirement income specialist Just has reported record demand for life annuity solutions from South African pensioners looking to ...
Read More »

  

Coronavirus: Fighting the rise in cyber criminals from the home office

With many people working remotely because of the coronavirus outbreak, the number of cyber incidents is increasing as hackers, scammers and spammers look to exploit vulnerabilities in an attempt to steal valuable ...
Read More »

  

Businesses need to restart facilities with care and caution after coronavirus lockdown to reduce risk of damages

Allianz Global Corporate & Specialty recommends site security inspections and dedicated loss prevention measures to ensure a successful and safe reopening after shutdown. Fires, machinery breakdowns and faulty ...
Read More »

 

More News »

Image

Healthcare »

Image

Life »

Image

Retirement »

Image

Short-term »

Advertise Here
Image
Image
Advertise Here

From The Glossary »

Icon

Experience Rating:

Premium on a policy is determined by claims experience.
More Definitions »

 

Advertise

 

eZine

 

Contact IG

 

Media Pack

 

RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2020. All Rights Reserved.