SACE SIMEST, the export and internationalization hub of the CDP Group, and Etihad Credit Insurance (ECI), the United Arab Emirates export credit agency, have today signed a reinsurance agreement to support Italian companies that operate in the UAE market.
The reinsurance agreement - signed by Alessandro Decio, CEO of SACE and Massimo Falcioni, CEO of ECI, in the presence of the Vice Premier and Minister of Italian Economic Development, Luigi Di Maio, and the Minister of Economy and Vice President of the Board of Directors of ECI, Sultan Saeed Al Mansoori - represents the first concrete step of a broader agreement signed last year with which the two export credit companies laid the foundations of a cooperation in support of trade and investment between the two countries.
Specifically, the reinsurance agreement with ECI will allow SACE BT, the operating company of the Polo specialized in short-term credit insurance, to make its insurance solutions available to Italian companies and their subsidiaries operating in the United Arab Emirates. turnover protection and effective cash flow management.
“With Etihad Credit Insurance we have long built a strategic partnership, working together to strengthen investment support and exchange between our countries, increasing opportunities and mitigating the risks to which Italian companies operating (and will always operate) more) on this important market - declared Alessandro Decio, CEO of SACE - With this agreement, we will be able to reach even more effectively the Italian companies and their subsidiaries and subsidiaries active in the Emirates with useful solutions to protect their business and concretely improve the management of financial flows ".
"Italy and the United Arab Emirates have always enjoyed a long and fruitful relationship," said Massimo Falcioni, CEO of Etihad Credit Insurance. ECI is honored to continue this long-standing cooperation between the two countries, collaborating with SACE in supporting Italian companies to increase their presence in the local market. We will continue to support SACE's efforts by sharing our wide range of solutions together with in-depth market knowledge ".