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Coface: 2017 net income, group share of 83.2 million euros

(CercleFinance.com) - Coface has posted 2017 consolidated sales of 1,354.
9 million euros, up 0.3% at constant exchange rates compared to 2016.

The volume of premiums benefited from 4.9% growth in the policyholders division in 2017 (against 0.6% in 2016) and the retention rate of customers reached 89.7%, against 88.0% in 2016, the group said.

New production reached 129 million euros, down 9 million euros relative to 2016. This trend is due to the tightening of underwriting measures in emerging countries and the stability of new business in mature markets.

Operating income amounted to 154.4 million euros in 2017, up 74.9% y-o-y (88.3 million euros in 2016). Overall, net income (group share) amounted to 83.2 million euros in 2017, including 28.2 million euros in Q4.

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