OREANDA-NEWS. Ingosstrakh Insurance Company is the undisputed market leader in space insurance. In the first quarter of 2014 the charges collected by Ingosstrakh Insurance Company for this type of insurance amounted to RUB 4.05 bn, including reinsurance premium. This is more than the other participants of the space insurance market collected during the whole year in 2013.

The company has recently won a number of major competitions. In December 2013 Ingosstrakh Insurance Company won in the open tender for the insurance of operation on the orbit of spacecrafts: Express-AM2, Express-AM3, Express-AM22, Express-AM33, Express-AM44. In January 2014 the company won the open tender for the insurance of the launch and operation on the orbit of spacecrafts: Express-AM4R, Express-AM7, as well as the open tender for the insurance of the launch and operation on the orbit of spacecrafts Express-AT1, Express-AT2 and Express AM8.

Ingosstrakh Insurance Company has extensive experience not only in the arrangement of space risks insurance, but also in the settlement of losses in this sphere. The company made the largest insurance payout in the history of the Russian insurance, RUB 7.5 bn, in connection with the loss of Express-AM4 in 2012. Ingosstrakh Insurance Company also paid more than RUB 1.177 bn in December 2012 for the total loss of Express-MD2 spacecraft (SC). In 2009 the company effected payment to Russian Satellite Communications Company in the amount of RUB 1.071 bn due to partial loss of Express-AM2. In 2014 Ingosstrakh Insurance Company paid RUB 857 m following the total loss of Express-MD1.

Today Ingosstrakh Insurance Company remains the main Russian insurer participating in the insurance of international space projects. Since 1989, Ingosstrakh Insurance Company has been providing insurance for foreign space projects within La Reunion Spatiale, the international insurance pool. During this time, some of the company's customers were SES Astra, Intelsat Ltd, Eutelsat Communications, Telesat, ViaSat Inc. On average, Ingosstrakh Insurance Company insures more than 20 risks in a year.

In the recent years the demand for reliable Russian insurance capacity for space projects has increased, and in 2010 Ingosstrakh Insurance Company established a dedicated obligor for space insurance having significant capacity, which is filled with a large amount of various foreign risks. Such obligor relies on the stable financial position, well-known brand and underwriting professionalism of Ingosstrakh Insurance Company, and this makes it easier to attract more international projects to Russia.

Among the clients of the insurer are world-renowned companies such as Intelsat and Inmarsat. Ingosstrakh Insurance Company is also the insurer of the national space projects of the USA, France, Germany, China, Mexico, Chile, Venezuela, India, Indonesia, the United Arab Emirates and some other countries.

New players have come to the space insurance market in the recent years, but Ingosstrakh Insurance Company remains the undisputed leader in this segment. The success of Ingosstrakh Insurance Company is based on the deep understanding of space equipment, the experience gained during the conclusion of insurance contracts and claims settlement, as well as the professional skills of the company's team acknowledged in the international market.