Heath Lambert brokers breathed a sigh of relief this week as the fiery pieces of Russian space station Mir plummeted safely into the Pacific Ocean's “graveyard”.

The aerospace division, which handles around 70% of the Russian Space Insurance Market, had placed a reinsurance protection covering the

liability exposure of the ageing Russian space station's re-entry.

In the past, de-orbits have led to large fragments of the US Skylab crashing in the Australian outback. A chunk of Mir's predecessor, the Russian Salyut 7, also planted itself in a garden in the Andes.

But Mir landed safely near Fiji on Monday morning, much to the delight of holidaymakers on the beaches of Nadi.

Aerospace executive director Gary Bryant said: “This was of course a very unusual project, not least because of the sheer size of Mir. We are absolutely delighted it has gone smoothly, and congratulate the agency.”