The year 2020 was marked by the COVID-19 pandemic. In order to mitigate the impact of this difficult economic situation on Polish companies, various liquidity-supporting aid measures were introduced, such as tax and contribution exemptions and deferrals. As a result, despite the extensive economic crisis, payment delays between companies have shortened – however, with these aid measures are to be phased out in 2021, two thirds of companies expect their business activities to deteriorate this year.
The rating agency Moody’s, on 10th February 2021, has confirmed the financial strength rating (Insurance Financial Strength – IFS) for Coface at A2. The agency has also raised the outlook for Coface, which is now stable.
Coface releases its FY 2020 Financial Results.
Following the change in the shareholder base and the arrival of Arch Capital Group Ltd. in Coface's capital, COFACE SA's Board of Directors is evolving. Bernardo Sanchez Incera has been appointed Chairman of the Board of Directors.
This year at our Country Risk Conference: 3 round tables to embrace the new business risks in a post-covid world.
Coface announces today the appointment of Bernard Aw as Economist for the Asia Pacific Region, effective December 1, 2020.
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