Turkiye Sigorta to insure satellites

The state-owned insurer Turkiye Sigorta has signed agreements with Turkey's only satellite operator Turksat. The company is to insure the country's three operational satellites: Turksat 3A, Turksat 4A and Turksat 4B.

The policy covers the risks of fire, meteorite impact, satellite moving out-of-orbit and collisions. The insurance amounts to 2.225 billion TRY (391.06 million USD).

Turkiye Sigorta was established in September 2020 upon the merger of six state-owned Turkish insurance companies and pension funds.