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Swiss Re Ltd. has stopped insuring satellites and launches, starting July 31, Space News reported. Jan Schmidt, head of Swiss Re's space division, said that the reinsurer decided to stop writing space-related business due to recent bad results and unsustainable rates.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
2. Zurich Insurance to stop underwriting new oil and gas projects
3. Bermudan, European reinsurers to suffer major hit from bridge collapse
4. Tycoon gets death sentence for multi-billion-dollar fraud
5. Inflation drives 10% increase in sum insured for windstorms
6. Apple loses bid to throw out $977M lawsuit over app store fees