Did you know that Coface (Compagnie Française d’Assurance pour le Commerce Extérieur) was the first private trade credit insurer to enter the Asia market? Founded by the French Government, the company has been a leader in managing trade credit risk for over 75 years. In 1994, it began its Asia-Pacific expansion with Singapore, quickly expanding to Japan in 1995 and Hong Kong a year later.
Today, Coface operates in over 100 countries, where its experts help enterprises navigate the challenges of volatile environments with confidence. By offering a comprehensive suite of solutions – such as trade credit insurance, business information, debt collection and single risk insurance – the company leverages its extensive expertise and cutting-edge technology in both domestic and export markets.
“Our mission is straightforward: to empower businesses to make informed decisions and trade smarter,” says Christopher Murphy, General Manager of Coface Hong Kong.
What sets the company apart is a vast global network of over 4,500 experts across 100 countries. With more than seven decades of data management experience and a database of 195 million companies, it provides customized solutions for businesses of all sizes and sectors. Plus, it is the only trade credit insurance provider offering a full suite of credit management solutions.
“Our business is deeply intertwined with the socio-economic and geopolitical landscape. During crises, we must be agile, resilient and creative. We stay in close communication with our clients to understand their needs and respond swiftly,” he explained.
Coface is embracing digital transformation through its three-year strategic plan, “Power the Core.” This initiative focuses on building an agile IT infrastructure and enhancing data connectivity through API products, ensuring clients have the tools needed to manage risks effectively. It is also working to achieve double-digit growth in business information services via a one-stop global data shop.
Another part of the plan is integrating ESG principles into trade policies. Coface is working to double its support for ESG projects to €400 million in liabilities, reduce its investment portfolio’s carbon footprint by 30% by 2025 and achieve carbon neutrality by 2050 (Net-Zero Asset Owner Alliance).
It also engages in various CSR initiatives. In Hong Kong, for example, the team proudly supports local charities such as Food Angel and the Hong Kong Cancer Fund.
“At Coface, we believe in trade as a force for good in the world, and we want to actively contribute to it,” said Murphy.
In terms of diversity, equality and inclusion (DEI), the company is aiming for 40% of its top 200 managers to be women by 2030. And to nurture a sense of community within its diverse culture, it hosts quarterly “social hour” meetings that celebrate achievements and build camaraderie among employees.
Joining the Chamber was a strategic move to enhance growth and visibility while contributing to the local economy.
“The HKGCC offers invaluable networking opportunities and access to entrepreneurs, potential clients and strategic partners through various events and training sessions,” he said. “We also collaborate with the Chamber to organize seminars for other members, which helps us to promote our brand and expand business opportunities.”
Compagnie Francaise d'Assurance pour le Commerce Extérieur (Coface) branch in Hong Kong
HKGCC Membership No. : HKC0684
Established: 1998
Member since: 1999
Website: http://www.coface.com.hk