Photonike Capital SA rises in equity and takes the control of Insurance Holding Nucleus Holding II ScSP (luxembourg)

Photonike Capital SA rises in equity and takes the control of Insurance Holding Nucleus Holding II ScSP (luxembourg)

Issuer

PHOTONIKE CAPITAL

Photonike Capital SA has negotiated and concluded with Nucleus Holding II SCSP (Luxembourg) an increase in its participation aimed at controlling insurance activities currently equal to 24%. The new structure has not involved payments and is awaiting authorization by the Liechtenstein FMA financial supervisory body.

Nucleus Holding II SCSP controls 98% of Nucleus Life AG (NLAG) insurance life company in Liechtenstein; according to the new agreement, Photonike Capital Sa rises to 75.4% of voting rights and 45% of the economic rights of Nucleus Holding II SCSP and already from March 2023 rules NLAG with a management team composed of Fausto M. Ventriglia (CEO), Ermanno Grassi (COO) and Angelo Colangelo (Corporate Affairs) waiting for Clive Mendes (CSO) to join the team in 2024. Falko Loy (Risk Manager), Markus Brugger (Solvency and Actuary Manager), with the external support of Schurti Partners Law Firm and GT Grant Thorton (Vaduz), are part of the team; Ekaterina Shavshkovskaya and Alvar Virkus complete the board.

The agreement includes a project to enhance the insurance portfolio of Tricap Assurance (Cayman) to be transferred to Europe.

The Photonike Capital Sa Team worked in 2023 to bring the company NLAG back into balance and align itself with European Regulation.

In the next few days the prediction of closing the NLAG 2023 Financial Statements will be made official.