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Technical report: Satellite insurance - Is satellite insurance starting to sparkle?
(From Reinsurance)
Rather like a comet as it starts to approach the sun again, the satellite insurance market is starting to show signs of returning to life.
The market has been showing slow but steady improvement over 2004, making up for what has been a bad couple of years, both in terms of insurance and actual launches.
By 2002, satellite insurance had become becalmed in the doldrums of the market. A number of high-profile satellite malfunctions had led to high payouts, falling profits and relatively low levels of business that forced several companies, such as Generali, to stop underwriting and leave the market.
The situation has ...
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