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Sogaz, Alfa Insurance and Ingosstrakh to insure Express satellites to $644.46 mln

December 24, 2017, 19:54 UTC+3 MOSCOW

The certificate is valid from December 31, 2017 to December 31, 2018

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MOSCOW, December 24. /TASS/. Russian insurance companies Sogaz, Alfa Insurance and Ingosstrakh will insure the Express series satellites to a sum of 37.6 billion rubles (644.46 million US dollars), according to the contract.

The certificate of insurance covers the following satellites: Express AM-44, Express-AT1, Express-AT2, Express-AM5, Express-AM6, Express-AM7, Express-AM8, and Express-AMU1.

Ingosstrakh’s share in the contract will amount to 60%, Sogaz’s - 30%, and Afla Insurance’s - ten percent. The sum of contract will stand at 471.9 billion rubles (8.08 million US dollars), with the amount of coverage being 37.6 billion rubles. The insurance covers complete or partial loss of a spacecraft. The policyholder is Space Communications Federal Unitary Enterprise. The three companies’ joint bid was the only one.

The certificate is valid from December 31, 2017 to December 31, 2018.

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