Mar. 18 – Sace, the insurance and financial group that supports the growth of Italian firms, and Exiar, the Russian credit insurance agency for export and investment wholly owned by the Vnesheconombank Development Bank (VEB), announced the signing of a reinsurance agreement to promote trade relations. It is the first operating agreement between the two agencies and will greatly expand cooperation potential. In addition to creating an effective platform for risk sharing, the agreement is set to generate new opportunities in various industries, including infrastructure, oil & gas and transportation. It will also allow SACE to continue supporting Italian exporters and investors in the CIS. The partnership with Exiar is the natural continuation of a cooperation trend with VEB in the Russian market, where SACE is a catalyst for growth and mitigating risk through a wide range of insurance and financial products. With a total exposure of € 6.3 billion, Russia continues to be a key market for SACE and a strategic partner for its operations in the CIS.
