In line with the terms of this agreement and following approval by the relevant authorities, Coface takes a 40% share in AXA
Assurcrйdit is a 100%-owned credit insurance subsidiary of AXA France. AXA Assurcrйdit, managed since July 2002 by Gйrard de Susanne, generated a turnover of Ђ15m in 2002 and Ђ3m in credit management services.
Coface generated Ђ973m turnover in 2002. With the company's know-how and tools, AXA Assurcrйdit will be able to offer AXA and other concerned networks a top quality offering aimed mainly at small- and medium-sized businesses (SMEs).
This agreement, which is limited to French companies, could subsequently be extended to other countries where Coface and AXA are present.
Source: LCI
