Italy Insurance Industry, Insurance Sector In Italy, Italian Insurance Industry

By: EconomyWatch   Date: 26 May 2010

About The Author

EconomyWatch

The core Content Team our economy, industry, investing and personal finance reference articles.

EconomyWatch, Content Team

 

  • Dot Div
  •      

 

USD Million

2002

Actual

2003

Estimated

Total Market Size

86,239

95,725

Sales by Local Firms

88,283

97,994

Exports by Local Firms

24,190

29,072

Sales by Foreign-owned Firms

24,146

26,803

Sales by U.S.-owned Firms

258

287

Italy’s Insurance Business With Mullahs Of Iran

Special Section for Insuring Exported Credit (SACE) of Italy has largely increased its coverage on a series of projects in Iran. A press statement has announced that this is mainly for sustaining activities of Italian companies doing businesses in Iran.
As a result, SACE, together with structured finance and investment operations which contain sufficient elements of country risk can be certain according to the following four points,

Firstly operations will be guaranteed.

Secondly short-term operations have access to irrevocable letters of credit, or will be financed by credit lines.

Thirdly, sizeable medium-term operations will have access to bank guarantees, depending on the credit rating of the other party's banks.

Fourthly, operations that are like public ones and set up like corporate enterprises, valued by SACE to be high standing.

For this reason, Iranians have decided to insure investments that Italian companies intend to make in those areas. The strategic sectors that are of particular interest to are the energy and manufacturing ones. It has already been ear-marked for financing Italian business operations in Russia and Ukraine, Moldova and the Caucasian countries (Armenia, Azerbaijan and Georgia).

     


  • Dot Div
  •      

Most Popular in Italy Insurance

Related Links
blog comments powered by Disqus