Coface opened its new office today in Canada, signalling its intention to become a major player in the Canadian market for trade credit protection and management services. Coface has requested approval to establish a Canadian branch from the Minister of Canada's Office of the Superintendent of Financial Institutions (OSFI).
The office is being established to amplify and broaden Coface's existing presence in Canada. Coface North America already operates indirectly in Canada, serving several hundred customers through independent sales agents in Toronto and Montreal. With the branch office, which will be located in Montreal, Coface will be able to issue credit insurance policies directly to companies in Canada.
