Coface posts 12% fall in 9m net income as corporate defaults rise. Sarah Jolly November 3, 2026 Coface reported an 11.8% fall in net income for the first nine months of 2026 to €156m ($181m), including a contribution of €48m in Q3, as the France-based credit insurer met record high levels of corporate defaults. Pricing... Want to read this article? ULTIMATE ACCESS PROVIDES YOU WITH * Unrestricted access to Commercial Risk, Commercial Risk Europe and Global Risk Manager news, exclusive expert analysis and opinion * Breaking news, daily and/or weekly Commercial Risk Europe newsletters and regular digital publications * Breaking news, weekly and monthly Global Risk Manager newsletters and quarterly digital Journal * European and global surveys, rankings and special reports * National European local language newsletters * Preferential access to webinars and virtual and physical conferences If you are already a registered user or subscriber you can LOGIN below for ultimate access:

Coface's 9M'26 revenue rises 1.9% to €1.413bn. Coface has reported a 1.9% increase in revenue to €1.413 billion for the first nine months of 2026, supported by growth in services revenue and a stronger contribution from investment income. Revenue for the period ended September was up from €1.387bn in the corresponding period last year. Notably, insurance revenue rose 0.6% to €1.136 billion for the first nine months of 2026, while services revenue grew 7.6% to €277.7 million. Investment income for the period, net of management expenses and excluding finance costs, rose 47.5% to €67 million, compared with €45.4 million in the first nine months of 2025. However, higher insurance finance expenses offset the improvement in investment income, which rose to €39.5 million. Coface's underwriting income after reinsurance also edged down 0.9% to €220.2 million. Coface's operating income consequently fell 7.2% to €242.8 million in the first nine months of 2026, while current operating income declined 7.1% to €247.8 million. Net income attributable to the group stood at €155.5 million for the period, down 11.8% from €176.3 million in the first nine months of 2025. The insurer's combined ratio after reinsurance deteriorated slightly, rising 0.5 percentage points to 72.4%. This reflected a 2.4-point increase in the cost ratio to 34.7%, which more than offset a 1.9-point improvement in the loss ratio, to 37.7%. Xavier Durand, CEO of Coface, commented, "In the third quarter of 2026, the global economy continued to face significant geopolitical tensions and macroeconomic imbalances. "High energy prices, investments in artificial intelligence and the persistence of high public deficits led to a rise in interest rates, putting the most vulnerable borrowers - both corporates and sovereigns - under pressure. "Corporate defaults remained at a record high, resulting in larger claims for credit insurance. Against this backdrop, Coface reported Q3-26 revenue growth of +5.4%, primarily thanks to a record level of new business production and stronger client activity. "Non-insurance revenue continues to post solid performance with double-digit growth driven by all businesses, including factoring. "Its expertise and vigilance regarding risk management have once again enabled Advertisement Shout to keep its combined ratio at a level below its mid-cycle target. Advertisement Shout delivered these strong results while continuing to make strategic investments. "As Coface expects corporate defaults to continue their upward trend, we have once again significantly stepped up the number of prevention measures, while remaining committed to our clients." Spread the love

John Gaines joins Coface's board of directors. The board of directors of Coface SA has co-opted John Gaines as a non-independent director, replacing Yves Charbonneau. He currently serves as deputy CEO and chief actuary at Arch Mortgage Insurance (United States). Published on 11/02/2026 at 12:22 pm EST MarketScreener.com - Translated by Marketscreener - See original The structure of Coface SA's board of directors remains unchanged. It consists of 10 members, five women and five men, including a majority of independent directors (six). John Gaines serves as deputy CEO and chief actuary at Arch MI. In particular, he oversees the teams responsible for pricing, claims reserving and business information systems. Before joining Arch MI, he served as chief underwriting officer at United Guaranty Corporation, a company acquired by Arch MI in 2016. Previously, he held several management positions at United Guaranty as senior vice president, successively serving as deputy chief risk officer, head of key accounts and operations, and head of the group's Canadian operations. John Gaines holds a master's degree in mathematics from Clemson University (South Carolina, United States) and a bachelor's degree in mathematics from Bob Jones University (Greenville, South Carolina, United States). He is also a member of the Casualty Actuarial Society, where he holds the title of Fellow (FCAS), or a full member. (C) MarketScreener.com - 2026