Coface capitalizes on its strategic successes and launches Build to Lead, its new 2023 strategic plan2020.02.25
Build to Lead will broaden and deepen the business and cultural transformation initiated in Fit to Win. In particular the new plan will: Continue to strengthen risk management and underwriting discipline; Improve service, and commercial and operational efficiency; Invest in select growth initiatives in trade credit insurance as well as in specialty lines; Maintain balance sheet strength.
AM Best assigns A (Excellent) rating to Compagnie française d'assurance pour le commerce extérieur and to Coface Re SA2020.02.24
Rating agency AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) to Compagnie française d'assurance pour le commerce extérieur (la Compagnie) and to Coface Re. Both ratings have a stable outlook. The agency has also affirmed the FSR of Coface North America Insurance Company (CNAIC) to A (Excellent). The outlook remains stable.
COFACE SA (“COFACE”) acknowledges the announcement made today by Natixis of its sale of 29.5% of the share capital of COFACE to Arch Capital Group Ltd (“Arch”) as well as Arch’s affirmed support of COFACE’s current management and of its new 2023 strategic plan Build to Lead.
Despite the economic slowdown, Coface’s latest survey on business payments in Poland shows that payment delays have systematically shortened since 2017 – but the impact of the coronavirus outbreak on the Polish economy remains to be seen.