COFACE SINGAPORE BRANCH

Website: www.coface.com.sg

Activity

Coface Singapore Branch supports the development of domestic and international trade through the provisions of credit insurance, which helps protect companies and banks against the risk of default by customers. Coface offers whole turnover, single and political risk insurance, to provide a comprehensive cover for both commercial and political risks.

Coface Singapore also participates in various government schemes to support Singapore companies. Since 2008, Coface is the leading underwriter of the Loan Insurance Scheme (LIS). Introduced by the Singapore government to help companies cope with the economic downturn, this scheme helps Singapore companies secure their short term financing lines by getting them insured against insolvency risks, with the government support on a portion of the insurance premium.

Coface Singapore has been participating since 2011 in the Trade Credit Insurance Scheme (TCIS) introduced by International Enterprise (IE) Singapore. The scheme provides a 50% subsidy of the premium for qualified companies that purchase trade credit insurance.

Coface Singapore Branch was established as a representative office in 1995 and obtained a credit insurance license from the Monetary Authority of Singapore (MAS) to operate as a branch office in 2002.

Coface is a subsidiary of Natixis whose Core Tier 1 ratio is 10.2% end December 2011. Established in 1946, Coface is one of the 3 largest credit insurance companies in the world, with headquarters in Paris.