Press Releases and News

SACE and EXIAR, the Russian agency for export credit and investment insurance, announced the successful signing of the Agreement Governing Reciprocal Reinsurance Obligations (the Agreement) in order to enhance trade & investment of both Italian and Russian corporates.

The Board of Directors of SACE today approved the draft separate and consolidated financial statements of SACE at 31 December 2012. SACE ended 2012 with a net profit of €255.1 million, up by 38.6% compared with the previous year.

SACE and the Kurdistan International Bank for Investment and Development (KIB), the leading bank in the autonomous region of Iraqi Kurdistan and the country’s largest private bank, have today signed a cooperation agreement to support investments and trade relations and to strengthen cooperation in export credit between Italy and Iraq.

SACE has guaranteed a USD 57.8 million loan granted to Coeclerici Group to finance the investment in four new offshore floating transfer stations for moving coal in Borneo, Indonesia.

Today the Board of Directors of SACE examined the quarterly report and accounts at 30 September 2012, which show a significant improvement compared to a year ago. SACE closed the first nine months of 2012 with a net profit of € 214.2 million (+82,6%) and insured € 7,2 billion of new transactions (+18,4%).