Coface SA Publishes 2024 Solvency and Financial Condition Report
Coface SA has released its comprehensive Solvency and Financial Condition Report (SFCR) for the financial year 2024, reflecting its commitment to transparency and regulatory compliance under Solvency II requirements.
Overview of the SFCR Publication
The report, approved by the Board of Directors, encompasses both the Group and Compagnie française d’assurance pour le commerce extérieur (the 'Compagnie'). This annual report provides stakeholders with vital insights into the financial health and solvency status of the organization.
Key Highlights from the Report
Several significant points have emerged from the SFCR:
- The Group's own funds to cover Solvency Capital Requirement (SCR) amounted to an impressive €2,630 million as of December 31, 2024. This capital comprises:
- 75% as Tier 1 capital
- 24% as Tier 2 capital
- 1% as Tier 3 capital, primarily derived from deferred tax assets.
- The Appointed Actuary’s evaluation indicates a robust SCR coverage ratio at 196%, significantly above the target range of 155%-175%.
- As a result of its strong financial standing, the Group has proposed distributing 80% of its net profit for 2024, affirming its commitment to return value to shareholders with a proposed dividend of €1.40 per share.
- The Compagnie’s independent SCR coverage ratio stands at a remarkable 237%. This indicates a solid financial buffer and operational health that underpins its risk management strategies.
Coface’s Role in Trade Credit Risk Management
Coface has been a stalwart in the field of trade credit risk management for over 75 years, aiding businesses in navigating fluctuating markets. Their extensive offering includes Trade Credit Insurance, Business Information services, Debt Collection, Single Risk insurance, Surety Bonds, and Factoring. In 2024, the company expanded its team to approximately 5,236 professionals and achieved a turnover of €1.84 billion, highlighting its significant reach across 200 markets.
Contact Information for Investors and Analysts
For those seeking more information on the latest report, please reach out to:
Investors:
Thomas Jacquet at +33 1 49 02 12 58, or email thomas.jacquet@coface.com
Rina Andriamiadantsoa at +33 1 49 02 15 85, or email rina.andriamiadantsoa@coface.com
Media Relations:
Saphia Gaouaoui at +33 1 49 02 14 91, or email saphia.gaouaoui@coface.com
Adrien Billet at +33 1 49 02 23 63, or email adrien.billet@coface.com
Financial Calendar 2025
While subject to change, key events in the financial calendar for 2025 include:
- Annual General Shareholders’ Meeting: 14 May 2025
- H1-2025 Results Announcement: 31 July 2025 (post-market close)
- 9M-2025 Results Announcement: 3 November 2025 (post-market close)
For more detailed financial information and results, interested parties can visit the Coface Investors website.
Frequently Asked Questions
What is the significance of the Solvency and Financial Condition Report?
The SFCR provides a transparent overview of the company’s financial health and risk management strategies, vital for stakeholders.
How does Coface assess its solvency?
Coface employs a partial internal model approved by the relevant authorities to evaluate its solvency.
What is the planned dividend per share for 2024?
The proposed dividend for shareholders is €1.40 per share, representing 80% of the net profit for the year.
How many employees does Coface have?
As of 2024, Coface employs approximately 5,236 individuals worldwide.
What industries does Coface serve?
Coface provides services across various industries, assisting businesses with trade credit insurance and related financial solutions.
