Coface reported a net income of EURO 15 million, compared to a loss of EURO 37 million in the first quarter of 2009. EURO 401 million in revenues were reported. Operating profitability for credit insurance is now positive again thanks to a drop in claims. The claims/premium ratio is now 63% (compared to 98% in 2009). Claims developments are very positive with another drop in claims declarations at the beginning of the year.  Good performance is occurring in all subscription zones except in the United Kingdom. Factoring is back to double-digit growth.  More information on   Source:  ICISA Newsletter

BIIA Newsletter May II – 2010 Issue