Coface reports improved results with 21% jump in profit

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The credit insurer’s profit improved by €22m in 2011, reaching €121m compared to €99m in 2010.

Combined ratio also improved, by 2.7%, from 84.9% in 2010 to 82.2% for last year.

The company became debt-free in 2011.

Jean-Marc Pillu, CEO of Coface, said: "Refocusing on our core business and our company project 'Strong Commitment' have put coherence and pragmatism back at the centre our organisation.

"We are even more focused on accompanying our clients, providing them with increased exposures

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