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Ingosstrakh wins insurance contract for RSCC’s current Express-AM-series satellites

Insurance coverage in the event of a total or partial loss will be provided for the current constellation including Express-АМ2, Express-АМ3, Express-АМ22, Express-АМ33 and Express-АМ44

Ingosstrakh Insurance Company has been awarded the RSCC tender for risks insurance of in-orbit operation of Express-AM-series satellites. 

Starting on 31 December 2013, the current RSCC constellation of satellites including Express-АМ2, Express-АМ3, Express-АМ22, Express-АМ33 and Express-АМ44 will be covered by insurance for a total or partial loss, totaling P2.5bn.

Apart from Ingosstrakh, two other nationwide insurance companies participated in the RSCC tender, Sogaz Insurance Group and Alfa Insurance, which had submitted a joint co-insurance bid.

Evaluation of bids and selection of the winner were based on the bidders’ past experience in space risks insurance, the size of insurance premium under previous contracts, confirmed voluntary prejudicial payments in the field of space risks insurance, as well as availability of re-insurance protection.

Ingosstrakh has been awarded the contract due to a lower price offer.

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