The Mediterranean and Africa, the main sources of income for Coface in 2018
The French insurer Coface reported a turnover of 1.384 billion EUR (1.583 billion USD) in 2018, up by 2.2% over one year. The annual net result leaped by 47% to reach 122.3 million EUR (139.8 million USD).
The breakdown of turnover highlights the strength of the Mediterranean area and of Africa. The latter recorded the highest increase (+ 6.4%) with a premium income of of 370.4 million EUR (423.6 million USD). This area is ahead of Northern Europe and Western Europe who achieved premiums of 303.9 million EUR (347.6 million USD) and 280.8 million EUR (321.2 million USD) respectively.
Three regions recorded declining turnovers. They are Latin America (-5.5%), Asia Pacific (-1.5%) and Northern Europe (-0.3%).
The group's equity grew by 0.2% at 1.806 billion (2.065 billion USD). The net annual combined ratio amounted to 79.6%.
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