The largest Russian insurance company SOGAZ has committed its obligations for indemnifying damages associated with the loss of the communications satellite Amos-5, as stated in the Group’s press release.
The press release remarks that the company made all payments this March. It is worth pointing out that the total insured value of the Amos-5 amounted to USD 158.5 million, and the SOGAZ’s share was USD 2.5 million.
We shall recall that the communication satellite Amos-5, designed by the ISS-Reshetnev Company, provided telecom and broadcasting services in Africa and Israel. It was launched in 2011. Its service life was to expire only in 2026. However, as the Mediasat reported, on November 21 of last year, the Spacecom lost contact with that space vehicle. In mid-January of this year, the Mediasat featured that the Amos-5 was officially recognized “dead”. A bit later the ISS-Reshetnev Company made public the cause of losing that satellite: it was damaged by a meteorite. Reed on, how the loss of communications satellite will affect the Spacecom’s revenues.
