OREANDA-NEWS. May 31, 2010. Transsiberian Reinsurance Corporation (OJSC) European Bureau branch (Moscow) paid reinsurance indemnity of USD0.4m to Russian Insurance Centre (IJSC) under property reinsurance contract. Risk was accepted through Malakut Sozvezdie Insurance Broker.

The contract provided cover against loss and damage of RD171M liquid-fuel rocket engine. In the course of fire testing on December 25, 2009 there was a fire following explosion resulted in multiple damages of rocket engine. The commission acknowledged constructive total loss.

The event was acknowledged insured with sum insured being USD7.5m. The amount of loss paid by Transsiberian Re less value of parts for scrap made up USD0.5m. The first part of USD0.1m was paid by the Corporation in January, 2010.