Coface : Record net result in Q3 2022 with an excellent combined ratio
>Very strong revenue growth - Coface released its Q3 2022 results yesterday evening. Group revenues came to € 468m in Q3 2022 (+19.9% reported and +16.4% at constant forex), beating expectations (consensus and our forecast of € 457m). Strong revenue growth in credit insurance resulted from: 1/ brisk growth in client activity (+11.1% in 9M 2022 vs +8.0% in H1 2022), reflecting the recent recovery in growth and inflation; 2/ a record client retention rate (93.5% in 9M);...Coface is a holding company that performs its activities through its primary operating subsidiary, Compagnie franASSaise d'assurance pour le commerce extA(c)rieur and its subsidiaries. Through its subsidiaries, Co. is a provider of credit insurance to businesses with solutions to protect them against the rist of client insolvency on both domestic and export markets.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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