The third quarter of Sace is on file, which closed with a net profit of 433 million euros, up 15% on an annual basis. It also grows portfolio of insured operations, per quota 78,5 billion, up 5% on the same period of the previous year, ei gross premiums, to 361,6 million euros (+41%). Claims settled, on the other hand, fell by 31% year-on-year to 224,1 million.
with regard to asset data, the technical reserves amount to 2,3 billion euro, while the net assets to 4,9 billion euros, down 12% mainly due to the reduction of the share capital of 799 million euros finalized at the beginning of the year in favor of the shareholder.
In the first nine months of the year, Sace guaranteed 6 billion euros of export or internationalization operations, up 27%. The credit insurance, suretyship, risk protection and factoring businesses generated volumes of €15,6 billion. The 22% increase of the turnover, amounting to 2,2 billion euros, relating to loans released in favor of companies.
In addition to its quarterly accounts, the group today announced that it has insured the Veronese company Isopan for the construction of a production plant in Russia in the Volgograd region, intended for the production of metal insulation boards from glass wool and polyurethane.
The investment, which consists of a 23 million euro capital injection in favor of the Russian subsidiary OOO Isopan Rus for the construction of a 30 thousand square meter production site whose products will be destined for the local market and neighboring areas, is been guaranteed by Sace against risks of a political nature
“Russia, despite the recent criticalities, remains one of the reference markets for Italian exporting companies – declared the director of the North-East Area of Sace Mario Bruni -. There is no shortage of business opportunities available to our companies, but to seize them it is necessary to be able to manage risks with the support of a qualified partner. SACE provides Italian entrepreneurs with in-depth knowledge of the Russian economic and political context, thanks to decades of experience in the country and its own office in Moscow”.
