Photonike Capital S A : SA closes a contract worth 1.7 M euros

About this update from Photonike Capital Sa

Photonike Capital SA closes a contract worth 1.7 M euros 20 Aug 2024 19:42 CEST Subscribe Issuer PHOTONIKE CAPITAL Photonike Capital SA has entered into an Operation Risk Mitigation contract with an internationally leader EPC contractor. The operation covers an industrial risk of 48 million dollars for an infrastructure project in Chile lasting 4 years and was completed by issuing derivatives in partnership with the insurance companies Northernlight Group Usa, Sopac insurance Samoa and IIC International Insurance Company Curacao. Photonike Capital SA used its artificial intelligence sw AESG (AI Economic Scenario Generator) for the first time to estimate the risk of counterparty. The contract worth 1.7 million euros has been paid today. The partnership provides other operations of industrial Alternative Risk Transfer projects on other customers by the end of the year. The operation does not constitute insurance activities for which the Company has the authorization in progress, but has been completed through derivative financial contracts while the insurance party was covered by the International Partners' Insurance Consortium. Source PHOTONIKE CAPITAL Provider Euronext Company Name PHOTONIKE CAPITAL ISIN BE0948608451 Symbol MLPHO Market Euronext Access

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