Coface is in the red in 2009

Coface sustained a record high loss of 163 million EUR (233.6 million USD) in 2009. This awful performance is accounted for by its credit insurance operations which affected the results by 320 million EUR (458.6 million USD). The turnover is slightly on the rise at 1.53 billion EUR (2.19 billion USD) (+3.2%). The underwriting profit is in the red up to 249 million EUR (356.8 million USD). The company claimed that it would soon return to profits starting from 2010.