Servizi Assicurativi del Commercio Estero

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SACE S.p.A Servizi Assicurativi del Commercio Estero
State-owned enterprises
Industry Insurance
Founded 1977
Key people
Alessandro Castellano (Chairman, Giovanni Castellaneta. CEO)
Products Financial services
Number of employees
656 (2010)
Slogan The Made in Italy never stops
Website http://www.sace.it

SACE S.p.A. is the Italian export credit agency. It is governed by Giovanni Castellaneta, the ex Italian ambassador to the USA.

History[edit]

SACE was established in 1977 following the Law 227/77 as Special Section for Export Credit Insurance of National Insurance Institute. With the Legislative Decree 143/98 becomesInstitute for Foreign Trade Insurance Services, later became a public economic body. In 2004, Law 326/2003 (Article 6) becomes LLC(with effect from January 1, 2004).

Activity[edit]

SACE, 100% controlled by Italian Ministry of Economy and Finance, offers a complex range of instruments for credit insurance, investment protection, the provision of sureties and financial guarantees. The 'credit insurance is the reduction or transfer to third parties of the risks of insolvency. The insurance includes, from an economic-financial, managing and funding the loan. The risks of construction are all factors capable of damaging a particular company or that she herself may be damaged.