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Russia: Satellite Yamal-401 insured by Sogaz for $348.9 million

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The recently launched Russian satellite Yamal-401 has been insured by Russia-based Sogaz Insurance Group for €280 million ($348.9 million), Forinsurer reported.

The insurance covers risks of full and partial loss of the satellite while in orbit.

The duration of the insurance contract is one year.

The satellite is owned by JSC Gazprom Space Systems.

Risks have been reinsured in domestic and international markets, reports Forinsurer.

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