AXA XL is a leading provider of space insurance, offering comprehensive solutions for spacecraft and satellite missions. As a space insurer, AXA XL's coverage includes all phases of space activities such as pre-launch, launch, in-orbit operations, and liability protection. They specialize in creating tailored policies for satellite owners, operators, manufacturers, and launch providers, with expertise extending to small satellites and innovative space applications. AXA XL partners with satellite operators and manufacturers, launch providers, and government agencies, focusing on risk management and utilizing data-driven insights to develop reliable insurance products.
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Planet Labs and AXA have formed a strategic partnership to provide high-frequency satellite imagery to monitor, predict, and respond to natural disasters in near-real-time.
AXA Digital Commercial Platform (AXA DCP) will integrate data from Planet’s high-resolution and medium-resolution satellites and high-frequency Basemaps into its AI-powered platform.
The partnership will integrate Planet’s satellite data into AXA’s digital platform to enable smarter claims monitoring.
AXA Climate’s index insurance service began operating in southern and central Brazil in 2025.
AXA XL data shows net premium for the space insurance market in 2022 was $579 million, excluding $75,000,000 tied to Russian risks that western insurers are banned from covering following the invasion of Ukraine.
Of the remaining 770 satellites launched in 2022, AXA XL data shows 340 were insured during launch.
AXA XL data shows that of the 6,100 satellites in low Earth orbit, 63 are insured for a total of $3,100,000,000.
AXA XL data shows just over 38% of the 186 launches that attempted to reach orbit in 2022 were insured.
AXA XL recorded $294,000,000 in losses for the space insurance market for 2022.
The roughly $210,000,000 Vega insurance payout accounted for more than two-thirds of the $294,000,000 in losses AXA XL recorded for the space insurance market in 2022.
AXA XL data shows that of the 590 satellites in geostationary orbit and 280 in medium Earth, highly elliptical and other orbits, 238 are insured for a total of $24,700,000,000.
Chris Kunstadter of AXA XL quantified per-kilogram satellite replacement values as approximately $26,000 for GEO, $50,000 for MEO, and $43,000 for LEO.
AXA XL estimates that approximately $35,000,000,000 worth of assets are in LEO, of which only 8% are currently insured.
AXA XL projects that the chance of a collision in low Earth orbit (LEO) will grow sevenfold by 2030.
AXA XL data shows total space insurance market premiums of around $452,000,000 for 2020.
Space insurers paid out around $431,000,000 in claims in 2020, per data from AXA XL.
Dominique Rora, head of space underwriting at AXA XL, expects insurers to break even after suffering several hundred million dollars in losses in 2018 and 2019.
AXA XL’s global head of space is Chris Kunstadter, who supported the Commerce Department taking a leadership role in space safety and sustainability.