Total revenue for first Half of 2015 was € 760.3 million, up 5.1% at current scope and exchange rates (+ 2.1% at constant scope and exchange rates)- Combined ratio after reinsurance impacted by the increase in claims’ frequency at 81.9% (up 3.9 percentage points compared with H1-2014 and up 0.5 percentage point compared with H2-2014)
- Good quality net income (Group share), at €66M (vs. €69M in H1-2014 and €56M in H2-2014)
- Agreement in principle concluded today with the French government on the transfer of the public guarantees activity in France[1] valuated at approximately €90M
Jean-Marc Pillu, CEO of the Coface Group, commented: “Since the end of last year, at the occasion of our periodic results publications, we have noted weaknesses affecting the macro-economic environment. The first half of this year confirms this trend, and it was marked by an increase in the frequency of claims, in particular in emerging markets.”
Source: Coface
