SACE BT is the Italian company specialized in short-term Credit Insurance, surety bonds and Construction risks (C.A.R/E.A.R./ Decennial Liability cover on buildings) operating all over national territory. With a total of gross written premiums around 128 mln and shareholders’ equity of 60 mln at end-2021, SACE BT holds respectively 4th and 7th by premiums in the Italian Credit Insurance and Surety markets. It is a subsidiary of SACE, Italy’s leading provider of credit insurance, investment protection and contractual guarantees to cover political and commercial risk.
SACE BT’s mission is to develop the best insurance, financial and risk management solutions for the domestic and export business of Italian SMEs.
As for credit insurance SACE BT provides Italian small and medium-size enterprises with strong protection against customers’ non-payment risk on short term credit operations, up to 24 months. Relating to bonding and construction risks, SACE BT offers tailored surety bonds to ensure due performance to contractual or legal obligations and insurance coverage against construction risks and civil work execution.
As per SACE SpA and Italian Republic, Fitch Ratings has increased Italian-based SACE BT S.p.A.’s (SACE BT) Insurer Financial Strength (IFS) Rating at ‘BBB’ and Long-Term Issuer Default Rating (IDR) at ‘BBB‘. The Outlooks are Stable.”
SACE BT was established in May 2004 and authorized from insurance regulatory authority in July 2004. Operations started in October 2004. One year later SACE BT had a 70% stake in Assicuratrice Edile (SACE Surety in 2008), specialized in surety bonds and construction risks.
SACE BT and SACE Surety S.p.A merged in December 2008.
In 2018 its Solvency II Internal model is approved by IVASS.
In a complex economic context, SACE BT has pursued its mission of offering insurance services to Italian companies, continuing to achieve the objectives set out in the Business Plan and at the same time limiting the exogenous impacts of the pandemic.
Enrico Sinno: firstname.lastname@example.org
Emanuela Gezzi: email@example.com