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

History

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

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.