January 26, 2015 4:35 PM ET

Insurance

Company Overview of SACE S.p.A.

Company Overview

SACE S.p.A. provides a range of insurance and financial products and services for companies and banks for their daily business in Italy and internationally. It offers credit insurance that insures a company against non-payment by its customer for the goods or services it has supplied; investment protection products, such as political risk insurance, investment financial guarantee, and internationalization guarantee; and surety bonds, such as bid bonds, performance bonds, advance payment bonds, and retention money bonds, as well as guarantees to cover urbanization charges. The company’s offerings also include financial guarantees, such as investment guarantee, working capital guarantee, inter...

Piazza Poli, 37/42

Rome, RM 00187

Italy

Founded in 1998

Phone:

39 06 67361

Fax:

39 066 736225

Key Executives for SACE S.p.A.

Chief Executive Officer and Director
Director of International Relations and Network
Compensation as of Fiscal Year 2014.

SACE S.p.A. Key Developments

Sace Reports Earnings Results for the Nine Months Ended September 2014

Sace reported earnings results for the nine months ended September 2014. For the period, the company booked a net profit of EUR 377.5 million for the period, marking a 15.4% year-on-year increase. Pre-tax profit went up 17.7% to EUR 549.9 million. Operating profit stood at EUR 555 million, rising 23.6%.

Sace Announces Earnings Results for the First Half of 2014

Sace announced earnings results for the first half of 2014. For the period, the company reported net profit dropped 32% annually to EUR 212.4 million (USD 286 million) on the back of lower interest rates and the stock market prices of the equities in its portfolio. Gross premium income rose 13.4% to EUR 132.2 million.

SACE S.p.A. Reports Financial Results for the First Quarter Ended March 31, 2014

SACE S.p.A. reported financial results for the first quarter ended March 31, 2014. For the first quarter, the company reported gross premiums of €47 million, more than doubled with respect to €23.9 million for the same period in 2013; expenses for claims amounted to €83.2 million, a significant increase compared to the result of €37.4 million in the first quarter of 2013. This is mainly due to claims paid to Italian enterprises relating to insured exports in Iran, where international sanctions led to an almost total closure of payment channels change in recoveries positive for €62.8 million (+69,5%, net income of €72.1 million, decreasing by 24.9%).

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