OREANDA-NEWS. SOGAZ and VTB Insurance have entered into a general agreement for the co-insurance of Soyuz and Progress spaceships for the period of their transportation from Korolev, Moscow Region, to Baikonur launch complex in Kazakhstan.

The Insured is a spaceship manufacturer, Experimental Machine Building Plant of 'Energia' S.P. Korolev Rocket and Space Corporation. During the year, the Company will provide coverage of those Soyuz and Progress spaceships that are planned to be launched into space. The insurance cover for each insured interest will last for three months and include the risks of damage to, or loss of, the ships as a result of any unforeseen event.

SOGAZ and VTB Insurance will act as co-insurers sharing the risks on a parity basis.