LONDON — Space insurance underwriters agreed that their market has grown worse in the past couple of years and will improve only when some of them quit the business.
That, they said, is probably inevitable as total annual space insurance premium income continues to fall with the collapse of the market for large geostationary-orbit telecommunications satellites. Average launch premiums have fallen, too, as the glut of insurance underwriters has resulted in a buyer’s market for launch insurance.
Even as per-launch premiums and aggregate premium volume have declined . . .
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