Credit insurer Coface has reported a net income of €190.9 million for the first nine months of 2021, a 264.2% increase from the $52.4 million achieved in the prior year period.
A net loss ratio of 25.4% for 9M represents an improvement of 29.8 ppts.
The combined ratio, net of reinsurance, stood at 56.1%, an improvement of 29.2 ppts compared to 9M20.
Operating income for 9M-2021 was €265.3 million, a 2.7-fold increase on the previous year, mainly due to the improvement in the loss ratio.
