Aviabel has worked with SATEC as a reinsurer for many years. Our ambition is now to further expand our collaboration to include insurance for general aviation risks, specifically light general aviation. Executive Director Stefano Guazzone: "SATEC is a specialized, fairly small player in an insurance marketplace that is dominated by very large players. We are looking forward to being able to pool our knowhow with Aviabel's, to cover risks in Italy as well as abroad."
Founded in 1993, SATEC initially focused chiefly on aerospace risks. In the following years, the company booked healthy growth figures, and in 2003 began to target the Italian market for aviation risks as well. Currently, via Meteotec, SATEC also insures what is known as weather contingency risks, in other words, cover for excessively warm weather in the winter period and excessively cold weather in summer. They were the first players to offer this service on the Italian market.
SATEC is a part of IUAI (International Union of Aerospace Insurers) and works with insurance intermediaries in Italy. SATEC has offices in Rome, Venice and London (in collaboration with Lloyd's).