News & Publications
COFACE SA announces that it has received authorisation from the French Prudential Supervision and Resolution Authority (ACPR) to use the group’s Partial Internal Model for calculating its regulatory capital requirement under the Solvency II Directive as soon as at 31 December 2019.
Coface recorded yet another strong quarter despite an economic context that has continued to deteriorate in line with our expectations. Our strong performance illustrates the effectiveness of the transformation we have implemented within Coface over the past three years, which has notably resulted in the significant improvement of our risk management processes. Commercial momentum was positive this quarter, as new business is continuing to grow whereas our clients’ activity is slowing down. We are maintaining our selective underwriting policy, which is now bearing fruit in a more volatile environment.
Coface North America, a leader in Credit Insurance and Business Information Services, is pleased to announce several key leadership appointments as it realigns the organization for growth. Lee Spurrier has been named to lead US Sales, Benoit Urbin will serve as Canada Country Manager, Paul Haigley will head North America Commercial Underwriting and Daniel Franca will oversee our focused efforts in the Financial Institutions & Structured Products markets. “Ensuring we have the best leaders in the right roles is a priority for me as we work to best serve our current and prospective clients, distributors, and partners,” said Oscar Villalonga, CEO of Coface North America.