The London insurance market faces a £4m bill for the Russian Soyuz-U rocket that exploded last week.
The crash brought the Soyuz programme's unrivalled safety record to an end.
Several analysts have admitted that the London market is preparing itself to meet claims from the Plesetsk launch station north of Moscow. However, because manned flights are uninsured, experts said Tuesday's crash would not affect premiums.
Space insurers sad the Soyuz disaster was "overdue". Historically there is one crash for every 13 launches, but this accident was the first in 21 launches this year.
The claim on the London market comes as Lloyd's overtook its rivals in the company sector for the first time in ten years.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
