Space insurance is entering a period of soft market

According to the International Space Brokers, member of the group Aon, the low loss ratio currently reported by space insurance, stiffening competition and the increase of capacity supply will enable the market to provide the insured with more favorable conditions in 2010. In 2009, the profits reported by insurers amounted to 400 million USD for collected premiums of about 800 million to 1 billion USD. Such figures correspond to the coverage of twenty blast-offs a year and to the insurance of satellites already in orbit.