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PICC to offer insurance for five satellites

By Dai Yan (chinadaily.com.cn)
Updated: 2006-09-21 13:43

PICC Property and Casualty Co Ltd, the largest non-life insurer on the Chinese mainland has become the chief insurer for five Geostationary Earth Orbiting commercial communications satellites that China will launch in the coming 15 months.

The five satellites are: Beijing-based SINO Satellite Communications Co Ltd's SINOSAT-2 and SINOSAT-3, scheduled to be launched in October 2006 and May 2007 respectively; the NigerSat-1 that China made and will launch for Nigeria in March 2007; the Zhongxing (Star of China) 6B and Zhongxing 9 to be launched in May and November 2007 respectively that were bought by China Satellite Comminications Corporation from Alcatel Alenia Space Co. These satellites will be used for telecommunications and television and radio broadcasting.

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The full text is available in the September Issue ofChina Insurance