Zurich’s unit providing insurance solutions for emerging markets risks has signed an alliance agreement with Sace, the Italian export credit agency. The agreement establishes a framework for a public/private collaboration that will enhance opportunities for Italian companies dealing in emerging markets through the provision of political risk insurance and trade credit insurance. Zurich and Sace will help each other manage their respective portfolios by entering into risk-sharing arrangements.

Daniel Riordan, executive vice-president and managing director of Zurich’s emerging markets unit, says, “With Zurich’s broad skills in product development and Sace’s depth of experience in a number of markets, this will be a very effective public/private collaboration. The agreement will enhance the ability of both organisations to respond to their clients “needs.”

“Sace’s knowledge of emerging markets, combined with Zurich’s capabilities, enables a more efficient transfer of risks so clients of both organizations can participate in the benefits of the agreement,” adds Roberto Taricco, risk manager at Sace.