Coface history

History

1946 Coface is founded as a specialised export credit insurance company, managing its own products and State guarantees for French exports.

1992 Coface begins its international expansion into the United Kingdom and Italy (with Viscontea Coface), paving the way for acquisitions in Germany (AK Coface) and Austria (KV Coface) in 1996. It sets up the CreditAlliance network of credit insurers.

1994 Coface is privatised.

1995 The CreditAlliance network is extended to credit information.

1999 Coface extends its service offering to factoring by setting up AKCF in Germany.

2000 Coface launches @rating, adding a worldwide insurable trade debt rating system to its credit information service.

2002 Natexis Banques Populaires becomes Coface majority shareholder.

2004 Coface acquires Ort from Reuters and combines this company's expertise with that of Coface Scrl to become France's leading credit information provider. It also forges international partnerships, particularly in the area of corporate ratings in Russia Banking Association, and in Japan with Nexi, the public-sector credit insurer.

2005 - Acquisition of credit insurer in South Africa, CUAL, and of Lithuanian credit insurer LEID.
- Gain major share in Israeli business information company BDI.
- Launch of Strategic Plan 2005-2007.

2006
- Creation of Coface Services 1 January 2006 (merger of Coface Scrl and Coface Ort).
- Creation of Coface Algerie.
- Purchase of a leading American provider of receivables management services (Newton & Associates Holding Company).
- Acquisition of a stake in Cerved, Italian leader in business information.
- Development of commercial offer in countries where Coface is present: 2 new countries for company information, 10 for receivables management, 4 for credit insurance and 4 for factoring.
- Creation of Natixis on 17 November 2006, bringing the financing, investment asset management and financial services banking activities of the Banque Populaire and Caisse d'Epargne groups.

2007
- Creation of Coface Holding which regroups all of Coface and Natixis Factor resources (i.e Natixis Trade Receivables line)
- Acquisition of Dafsaliens, the French specialist of financial ties between companies
- Acquisition of Kompass France, its branch Spain and Kompass Belgium

2008
- Launching of the 2008-2010 Strategic Plan
- Signing of a cooperation agreement with ICIEC (Islamic Corporation for the Insurance of Investment and Export Credit), Coface hence reinforces its geographical couver of exportation risks in the Middle-east, Africa and in Asia
- Launching of a worldwide rating on the quality of the business enviroment
- Acquisition of the leader in company information in Egypt (Fiani Partners) and the creation of Coface Egypt
- Reinforcement of the factoring offer in Denmark, Coface becomes the main shareholder of Midt Factoring (75% of the capital ), leader in this sector.
- The new product Coface Rating is launched – an alternative to the traditional rating agencies

2009
- Development of the international network: the opening of Coface Egypt increases Coface’s direct presence to 65 countries // Coface ranks no.1 in Latin America in its four business lines // Rapid growth of the TR Finance network, which now covers 28 countries and is the largest geographic network in the world.
- Implementation of “Act on the Crisis” plans in every country and of “Crisis Act II” in January 2009 // Despite the crisis, Coface continues to support companies by increasing guarantees by 14% in 2008.
- Coface announces its intention to become a financial rating agency, like the three major Anglo-American agencies, though limiting itself to corporate ratings.
- Coface wants to be a responsible rating agency and has set up a “Transparency Charter” which allows companies to solicit details on their ratings and to provide additional information for rating reviews.
- Optimization of production: creation of a Global Organization and Production Department geared to rationalising, standardising and improving delivery quality, and optimising production costs.
- Pursuit of the Focus programme, destined to improve client satisfaction: creation of a Global Sales and Business Development Department to provide clients with a harmonized offer adapted to local markets // Reinforcement of the Global Deals Team focused on multinational companies.

1946		Coface is founded as a specialised export credit insurance company, managing its own products and State guarantees for French exports.
1992		Coface begins its international expansion into the United Kingdom and Italy (with Viscontea Coface), paving the way for acquisitions in Germany (AK Coface) and Austria (KV Coface) in 1996. It sets up the CreditAlliance network of credit insurers.
1994		Coface is privatised.
1995		The CreditAlliance network is extended to credit information.
1999		Coface extends its service offering to factoring by setting up AKCF in Germany.
2000		Coface launches @rating, adding a worldwide insurable trade debt rating system to its credit information service.
2002		Natexis Banques Populaires becomes Coface majority shareholder.
2004		Coface acquires Ort from Reuters and combines this company's expertise with that of Coface Scrl to become France's leading credit information provider. It also forges international partnerships, particularly in the area of corporate ratings in Russia Banking Association, and in Japan with Nexi, the public-sector credit insurer.
2005		- Acquisition of credit insurer in South Africa, CUAL, and of Lithuanian credit insurer LEID. - Gain major share in Israeli business information company BDI. - Launch of Strategic Plan 2005-2007.
2006		- Creation of Coface Services 1 January 2006 (merger of Coface Scrl and Coface Ort). - Creation of Coface Algerie. - Purchase of a leading American provider of receivables management services (Newton & Associates Holding Company). - Acquisition of a stake in Cerved, Italian leader in business information. - Development of commercial offer in countries where Coface is present: 2 new countries for company information, 10 for receivables management, 4 for credit insurance and 4 for factoring. - Creation of Natixis on 17 November 2006, bringing the financing, investment asset management and financial services banking activities of the Banque Populaire and Caisse d'Epargne groups.
2007		- Creation of Coface Holding which regroups all of Coface and Natixis Factor resources (i.e Natixis Trade Receivables line) - Acquisition of Dafsaliens, the French specialist of financial ties between companies - Acquisition of Kompass France, its branch Spain and Kompass Belgium
2008		- Launching of the 2008-2010 Strategic Plan - Signing of a cooperation agreement with ICIEC (Islamic Corporation for the Insurance of Investment and Export Credit), Coface hence reinforces its geographical couver of exportation risks in the Middle-east, Africa and in Asia - Launching of a worldwide rating on the quality of the business enviroment - Acquisition of the leader in company information in Egypt (Fiani Partners) and the creation of Coface Egypt - Reinforcement of the factoring offer in Denmark, Coface becomes the main shareholder of Midt Factoring (75% of the capital ), leader in this sector. - The new product Coface Rating is launched – an alternative to the traditional rating agencies
2009		- Development of the international network: the opening of Coface Egypt increases Coface’s direct presence to 65 countries // Coface ranks no.1 in Latin America in its four business lines // Rapid growth of the TR Finance network, which now covers 28 countries and is the largest geographic network in the world. - Implementation of “Act on the Crisis” plans in every country and of “Crisis Act II” in January 2009 // Despite the crisis, Coface continues to support companies by increasing guarantees by 14% in 2008. - Coface announces its intention to become a financial rating agency, like the three major Anglo-American agencies, though limiting itself to corporate ratings. - Coface wants to be a responsible rating agency and has set up a “Transparency Charter” which allows companies to solicit details on their ratings and to provide additional information for rating reviews. - Optimization of production: creation of a Global Organization and Production Department geared to rationalising, standardising and improving delivery quality, and optimising production costs. - Pursuit of the Focus programme, destined to improve client satisfaction: creation of a Global Sales and Business Development Department to provide clients with a harmonized offer adapted to local markets // Reinforcement of the Global Deals Team focused on multinational companies.

COFACE VIETNAM SERVICES

History