SACE (company)
 | |
| Company type | State-owned enterprises |
|---|---|
| Industry | Insurance |
| Founded | 1977 |
| Headquarters | Rome, Italy |
Key people | Alessandro Decio (CEO and General Manager, Beniamino Quintieri. Chairman) |
| Products | Financial services |
| Owner | Cassa Depositi e Prestiti |
Number of employees | 723 (2015) |
| Parent | Cassa Depositi e Prestiti |
| Website | http://www.sace.it |
SACE is the Italian export credit agency.
It is governed by Beniamino Quintieri and Alessandro Decio.
History
- 1977 - Establishment of SACE as public entity under the surveillance of the Italian Ministry of Economy & Finance (MEF)
- 2004 - SACE is transformed into a joint stock company, whose capital is wholly owned by MEF and enters the short-term credit insurance market
- 2005 - SACE enters the surety market
- 2010 - SACE enters the factoring market
- 2012 - SACE is acquired by Cassa depositi e prestiti
- 2016 - SACE and SIMEST constitute a hub for exports and internationalization with their One-door initiative
Activity
SACE, 100% controlled by Cassa depositi e prestiti, 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.