Coface Group


The ratings awarded to Coface, by Moody's and Fitch, reflect its strong financial strength

The Company and some of its subsidiaries are assessed by well-known ratings agencies. The Company rating can vary from agency to agency.
The main ratings for the Company and its principal operational subsidiary are as follows:
Insurer Financial Strength
The ratings shown above can be subject to revision or be withdrawn at any moment by the ratings agencies awarding them. None of these ratings represent an indication of past or future performance of Coface shares or debt issued by the Company and should not be used as part of an investment decision. The Company is not responsible for the accuracy and reliability of these ratings.
1 COFACE SA is the holding company of the Coface Group. As a decision-making and management body, COFACE SA is a non-operational holding company and plays a vital financial role in the Coface Group, performing management, financing and advisory activities for its subsidiaries. The principal operating subsidiary of the Coface Groupe is Compangie française d’assurance pour le commerce extérieur.



Coface is rated A2, outlook stable since Sep. 2009

“The A2 insurance financial strength (IFS) rating of COFACE SA's (Coface, Baa1 stable) lead insurance entity, Compagnie Francaise d'Assurance pour le Comm. (the Compagnie) reflects (i) the group's strong position in the global credit insurance industry, (ii) good economic capitalisation, underpinned by Coface's dynamic management of insured exposure and effective underwriting risk monitoring tools, and (iii) good underwriting profitability through-the-cycle, exemplified by the strong profitability reported in 2018 which continued in 2019.

October 21st 2019 – Credit Opinion – Moody’s



2019 10 21: See Moody's detailed credit opinion



Coface is rated AA- outlook stable since Nov. 2010

The rating agency believes the Group’s capitalisation is based on its moderate multiple of nominal net credit exposure to equity as well as a strong and stable operating leverage (net premiums written to equity) at 0.5x at end-2018. Coface’s S2 ratio was 169% at the same date, above the company’s target range of 140%-160%


July 10th, 2019 – Press Release - Fitch




2019 07 12 See Fitch "Navigator"

2019 07 10 Coface press release

2019 07 10 Fitch Press release

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