The Chilean subsidiary of French credit insurer Coface aims to boost its market share this year though it does not expect its ROE to remain as high as in 2004, Coface Chile CEO Louis des Cars said.
“We had an ROE of 38.8% last year and that was an exceptional figure, well above the market average,” des Cars said. “We do not expect to hit that mark again this year.”
Coface remains dominant in export credit insurance in Chile with a 41.8% market share. Des Cars explained that its concentration in that market comes from Coface's international network and database of over 44 million international companies that gives the insurer an advantage over its competitors, locally owned Continental and Spain's Mapfre.
The extra services of company information and debt collection are key to Coface's strength in export credit insurance, the CEO added.
