Coface SA: Publication of Group and Standalone SFCR as of 31 December 2024
COFACE SA: Publication of Group and Standalone SFCR as of 31 December 2024
Paris, 7 May 2025 – 17.45
COFACE SA has published today its Solvency and Financial Condition Report (SFCR) for COFACE SA (Group) and Compagnie française d’assurance pour le commerce extérieur (the « Compagnie »), in compliance with the Solvency II requirements1.
The Board of Directors of COFACE SA and the Compagnie, respectively approved the SFCR for the financial year 2024. This report is produced on an annual basis:
- for Coface Group, involving COFACE SA and its main subsidiaries in France and outside France;
- for the Compagnie, on a standalone basis.
HIGHLIGHTS
- To assess its solvency, COFACE SA uses the partial internal model approved by the ACPR in 2019. The Compagnie’s solvency is still assessed using the interpretation of the standard formula.
- As of 31 December 2024, eligible own funds to cover the Group’s SCR amounted to €2,630 million, which broke down as follows:
- 75% of Tier 1 capital;
- 24% of Tier 2 capital;
- 1% of Tier 3 capital, representing deferred tax assets.
- The Group’s SCR coverage ratio of 196%2 at the end of 2024 reflects a solvency ratio above its target range (155% -175%). This level supports the Group’s decision to distribute 80% of its net profit for 2024 by a €1.403 dividend per share.
- The coverage ratio of the Compagnie SCR (Solo) at the end of 2024 is 237%4.
The full report is available on the website of the Company at the following address:
https://www.coface.com/investors/regulated-information/annual-reports
CONTACTS
ANALYSTS / INVESTORS
Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com
MEDIA RELATIONS
Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com
FINANCIAL CALENDAR 2025
(subject to change)
Annual General Shareholders’ Meeting: 14 May 2025
H1-2025 results: 31 July 2025 (after market close)
9M-2025 results: 3 November 2025 (after market close)
FINANCIAL INFORMATION
This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors
For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2024 Universal Registration Document (see part 3.7 “Key financial performance indicators”).
| Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust. You can check the authenticity on the website www.wiztrust.com. |
| COFACE: FOR TRADE As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment. Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring. Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets. In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion. www.coface.com COFACE SA is quoted in Compartment A of Euronext Paris Code ISIN: FR0010667147 / Ticker: COFA |
DISCLAIMER - Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group 's 2024 Universal Registration Document filed with AMF on 5 April 2024 under the number D.25-0227 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group 's businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.
1 The Solvency II Directive (i) formalises and organises information requests, and (ii) clarifies the governance requirements and processes to be followed by insurers. In particular, the regulations provide for the establishment of two narrative reports: one for the Regulator (RSR) and one for the public (SFCR).
2 Final calculation of the SCR coverage ratio using the partial group internal model. Non audited.
3 Ex-dividend date is on 20 May 2025 and Payment date is on 22 May 2025. The proposed distribution of €1.40 per share is subject to approval of the Annual Shareholders’ Meeting that takes place on 14 May 2025.
4 Final calculation of the SCR coverage ratio according to Coface’s interpretation of Solvency II standard formula. Non audited.
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