Coface maintains industry-leading client retention at 92.9% while operating a diversified business model with credit insurance and related services (82%), surety insurance (9.8%), credit management services (4.2%), and factoring services (4%). The company is experiencing double-digit growth in information services (+16.2% at constant FX), signaling successful expansion into higher-margin digital risk management solutions.
Cyborg Score Rationale
Coface delivered strong 2025 results with net income of €222.0m and solvency at 197%, demonstrating financial resilience. 2025 turnover reached €1,847m with +1.3% growth at constant FX, while non-insurance activities grew +7.8%. However, the net combined ratio increased to 73.1%, up 7.6 percentage points year-on-year, reflecting elevated claims and pricing pressures.
Top Insights
Global insolvencies are expected to rise only 3-4% in 2026, a significant slowdown from 2025's 6-7% increase, suggesting moderating claims risk
New business reached €129 million driven by increased demand and growth investments, with client activity up 2.6% despite considerable political and economic uncertainty
Information services grew double-digits (+16.2%) while debt collection surged 24.4%, offsetting slight factoring decline of -2.7%
Strong capital position with 197% solvency ratio and proposed dividend of €1.25 per share provides shareholder returns and M&A optionality
Named Competitors
Trade Credit Insurance — Allianz's credit insurance subsidiary; major European competitor
Credit Insurance & Reinsurance — Global reinsurer with credit insurance capabilities