SACE is an Italian insurance-financial group, operating internationally, that specializes in supporting Italian businesses and the national economic system. Established in 1977, SACE is fully owned by the Ministry of Economy and Finance (MEF) of Italy.
Mission and Role: SACE's primary mission is to support the internationalization of Italian companies and the country's export activities. It acts as Italy's Export Credit Agency (ECA), providing a range of financial and insurance solutions designed to mitigate risks associated with international trade and investments. Beyond export support, SACE also plays a role in supporting domestic investments and projects that contribute to Italy's economic growth, including those related to the green transition.
Services and Activities: SACE offers a comprehensive suite of services that include:
- Export Credit Insurance: Protecting Italian companies against political, economic, catastrophic, and commercial risks associated with their international transactions. This covers both short-term and long-term credits.
- Investment Protection: Insuring Italian investments abroad against political and other non-commercial risks.
- Financial Guarantees: Providing guarantees for loans and other financial operations aimed at supporting Italian companies' international and domestic activities.
- Factoring: Offering services to manage and finance trade receivables, improving liquidity for businesses.
- Bond Insurance: Issuing guarantees for performance bonds, advance payment bonds, and other contractual obligations.
- Green Guarantees: Supporting investments in sustainability and the ecological transition, aligning with national and European environmental goals.
- Support for SMEs: Tailored solutions and simplified access to its services for small and medium-sized enterprises.
Ownership and Governance: As a state-owned enterprise, SACE's operations are aligned with Italy's economic and foreign policy objectives. Its governance structure ensures its role as a strategic tool for the national economy, facilitating access to international markets and fostering domestic development.