Coface’s profits slip as sluggish economy, tariffs biteFrance-headquartered Coface SA recorded a 13% year-on-year decline in first-half net income to 108 million euros ($124 million), weighed down by sluggish economic growth under tariff pressures and the closure of the Strait of Hormuz, Reinsurance News reported. Revenue increased 0.3% to €939 million, while Coface’s net combined ratio held steady at 71%.