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Munich Re among insurers for failed rocket, satellite

Vega rocket launch pad

Germany-based Munich Reinsurance Co. said that it is one of the insurers for a $415.5 million insurance policy for a satellite and European Vega rocket, which failed after take-off on July 11, Reuters reported. David Todd, an expert at U.K.-based consultancy firm Seradata Ltd., said that the accident is the largest ever space insurance loss.

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