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EKF and Sovereign Risk conclude joint insurance transaction.

NORDIC BUSINESS REPORT-7 June 2006-EKF and Sovereign Risk conclude joint insurance transaction(C)1994-2006 M2 COMMUNICATIONS LTD

Eksport Kredit Fonden (EKF), the official Danish Export Credit Agency, and Sovereign Risk Insurance Ltd reported on Tuesday (6 June) the completion of a political risk insurance contract supporting DKK100m of exports to Ukraine.

The transaction comprises export of equipment for processing edible fats and oil to a number of mills in Ukraine. The exporter is Alfa Laval Copenhagen A/S, and the Ukrainian borrower's obligations are insured under EKF's insurance contract.

According to EKF and Sovereign the Danish contribution in the deal is primarily know-how and project management.

Sovereign, owned by ACE Bermuda Insurance Ltd, a wholly-owned subsidiary of ACE Limited (NYSE:ACE), is a provider of political risk insurance and reinsurance.

One Danish krone (DKK) is worth approximately 0.09 British pounds (GBP).

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Title Annotation:Sovereign Risk Insurance Ltd., Eksport Kredit Fonden
Publication:Nordic Business Report
Article Type:Brief article
Geographic Code:5BERM
Date:Jun 7, 2006
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