After a somewhat turbulent 2023, which ultimately turned out much better than expected, 2024 is shaping up to be as decisive as it is uncertain, both in (geo)political terms, with more than 60 national elections - presidential and/or legislative - and in economic terms, with risks mounting on a still slowing global economy.
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When companies need to assess the creditworthiness of potential customers, using time-consuming in-house research methods or sifting through lengthy, data-packed reports can lead to decision-making delays and missed revenue.
Fortunately, there’s a forward-looking solution that delivers clear and predictive insights to streamline your decision-making process: URBA360, Coface’s new risk assessment platform.
At the end of November, Xavier Durand, CEO of Coface, gave a comprehensive interview to the newspaper L'Agefi.
In this first part, he explains the consequences of conflicts around the world for companies, and what this means for Coface.
Coface Announces Lars Wallin as Head of Banks and Financial Institutions in the North America Region
Coface announced today the appointment of Lars Wallin as Head of Banks and Financial Institutions for the North America Region (NAR). Lars joins the Coface team to oversee the rapidly growing banking and financial institution segment which has found increasing value in Coface’s customizable trade credit insurance and business information offerings.
Growing a business while minimizing risk isn’t easy. The constant monitoring of new and existing suppliers can certainly lead to one (or many) sleepless nights. For many companies, active risk monitoring requires filtering through many data sources in an attempt to connect the dots and distill data into actionable insights. And then to keep doing it – over and over again.Read More
Country and Sector Risk Barometer Q3 2023: Macroeconomics put to the test by microeconomic deterioration
All the leading indicators point to a sharp slowdown in activity in North America and the Eurozone towards the end of the year, and the recovery of the Chinese economy has rapidly collided with structural weaknesses and a lack of confidence among households and businesses. In this context, we have modified 7 country risk assessments (2 upgrades and 5 downgrades) and 33 sector risk assessments (17 upgrades and 16 downgrades).
More in our latest barometer.
As we enter the fourth quarter for 2023, its time to look back on our economic bingo card to see what predictions delivered and what surprises stole our attention. At the start the year, Coface North America Economist Ruben Nizard outlined a trajectory for the region. Among the forecast included easing inflation and a U.S. economy avoiding recession despite mounting challenges.Read More
Coface’s 2023 Germany Corporate Payment Survey Reveals Increasing Payment Delays, Growing Use of De-risking Strategies
As many COVID-19 support measures end and the impact of energy subsidies stabilizes, Coface’s 2023 Germany Corporate Payment Survey reveals an increase in the number of companies (76%) reporting payment delays this year.
Learn more in our full publication.
Financial losses. Cash flow challenges. Reputation damage. No company wants to face nightmares like these that could disrupt operations, limit growth opportunities, and squash competitiveness. Fortunately, there’s a valuable tool that can help you manage risks associated with credit sales, ensure the continuity of your operations, and give you the confidence you need to pursue growth opportunities: Coface Trade Credit Insurance (TCI).
The rating agency Moody’s, on 28th September 2023, has upgraded the financial strength rating (Insurance Financial Strength Rating – IFSR) for Coface to A1 from A2. The agency has also changed the outlook for Coface to stable from positive.Read More
When it comes to business, it matters who you work with. Choosing the wrong business partner, whether it’s a supplier, customer, or key vendor, can be risky, disruptive, and costly. But how can you see the risk before it impacts your business? For 75 years, Coface has been a global leader in risk management and trade credit solutions. Building on and leveraging our risk expertise, we’re proud to announce a new business information platform designed to give global insights and risk decisions at the click of your fingers.Read More
Leaving a substantial debt of $2.59 billion in its wake, the third-largest U.S. trucking company, Yellow, made headlines in August by filing for Chapter 11 bankruptcy protection, leading to the displacement of 30,000 workers and the announcement it will cease operations.Read More
Coface North America Names Mark Jomaa Chief Operating Officer and Jacqui Jooste Coface Country Manager, Canada
Coface announced today Mark Jomaa has been appointed Chief Operating Officer for the North America region and Jacqui Jooste as Country Manager, Canada.
Both Mark and Jacqui bring proven track records of accomplishments which have raised the bar for customer experience in the risk management and trade credit insurance industries. Adding to the Coface North America leadership team, their work will help set a new standard for service delivery and operational excellence with North America.
In partnership with the Association of Food Industries, Inc. (AFI), Coface North America Economist Ruben Nizard and Senior Risk Underwriter Derek Baldwin shared macro and micro economic outlooks for the agrifood industry in 2023, discussing the latest industry trends and ways businesses can mitigate risk to support growth using trade credit insurance.Read More
Global credit rating agency AM Best has affirmed the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of ‘a’ (Excellent) to Coface and its main operating subsidiaries. This rating reflects the agency’s belief in the strength of Coface group’s balance sheet, operating performance, business profile, and enterprise risk management.Read More
Preventing delinquencies or collecting receivables immediately is critical to the survival of many companies. To help you gain insight into your own credit management and improve your business risk prevention, here are seven tips to better protect your business.Read More
Coface announced today the company’s United States (U.S.) operation has been Certified™ by Great Place To Work® for the 2023. Great Place To Work Certification recognizes employers who create an outstanding employee experience.
In early April, Saudi Arabia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman announced combined oil output cuts of more than 1.1 million barrels per day (b/d), surprising the markets. This commitment follows a first production cut announced in October 2022 by OPEC+. It comes in addition of Russia's decision to cut output by around 500,000 b/d in reaction to the implementation of a EU ban on seaborne imports of Russian oil and oil products.
Read our press release here for more.
Silicon Valley Bank’s failure highlights heightened financial stability risks amid monetary tightening
California and federal banking regulators shut down Silicon Valley Bank (SVB) and seized its deposits citing both illiquidity and insolvency. This is the 2nd largest failure of a U.S. financial institution after Washington Mutual in 2008. Read our expert's analysis of the situation.Read More