Coface profit slides 15% as claims normalize and competition intensifies

“Our strategy and disciplined execution have enabled us to contain the rise in claims and achieve a net combined ratio of 73.1% for the year, a level now close to our mid-cycle targets,” Durand said. “Our strong balance sheet allows us, in line with our capital management policy, to propose a dividend of €1.25 per share, corresponding to a payout ratio of 84%.”