Coface reported a 9.5% increase in net income for the first nine months of 2024, reaching €207.7 million, even as revenue declined by 2.1% to €1,376.6 million. Insurance revenue fell by 4.0%, attributed to low client activity and a weak economic environment, despite a stabilization in total revenue. The company’s net combined ratio improved to 64.4%, coupled with an increase in new business, up to €96 million. Coface’s CEO highlighted the challenges posed by economic conditions, yet expressed optimism regarding the firm’s financial performance and risk management strategies.
