SEPI Sociedad Estatal de Participaciones Industriales

• SAECA will guarantee against AGROSEGURO the payment in instalments of the premium for the stockbreeding policies whose cost reaches or exceeds 300 €

The Sociedad Anónima de Caución Agraria (SAECA) and the Agrupación Española de Entidades Aseguradoras de los Seguros Combinados, S.A. (the Spanish Association of Insurers for Combined Insurances, AGROSEGURO) have concluded a new collaboration agreement, whose most significant novelty is that it will be made available also to the stockbreeding industry the subscription of policies with the payment of the policy in instalments.

AGROSEGURO’s Chairman, Ignacio Machetti and his counterpart at SAECA, Mr. José Ramón Bujanda, were the signatories of this agreement as a result of which the SAECA company will continue acting as guarantor at the request of the farmer or stockbreeder and after making a study of the feasibility of the transaction, of the payment by instalments of the farming insurance premium, as long as its cost reaches or exceeds 1,500 €, in the case of farming policies, and 300 €, in the case of stockbreeding policies.

The amount guaranteed by SAECA and which is now extended will not exceed 90% of the total cost for the policy holder, being the maximum amounts to be guaranteed of up to 250,000 € in the case of natural persons, and of up to 400,000 € for legal persons.

As for the extension of the payment of the instalment, it will depend on the corresponding farming or stockbreeding insurance line.

The agreement was signed this morning at the Ministry for Agriculture, Food, and the Environment, and was chaired by the Ministry’s Undersecretary, Mr. Jaime Haddad. The signing ceremony was attended also by Mr. José María García, Head of Entidad de Seguros Agrarios, ENESA, as well as those in charge of AGROSEGURO and SAECA.

SAECA and Grupo SEPI

SAECA is part of Grupo SEPI, a corporate holding which includes a total of 16 state-owned companies in which it has direct, majority shareholding participations, with a workforce of around 73,000 professionals in 2014; the Spanish state-owned television and radio corporation, Corporación Radiotelevisión Española, which is attached to SEPI, and one public foundation. Equally, SEPI has direct minority shareholdings in a further ten companies, and indirect shareholdings in more than one hundred companies.