Mitsui Sumitomo Insurance (MSI), a core enterprise of the MS&AD Insurance Group, is a Japanese non-life insurance company that is expanding its role in the space industry. MSI offers insurance services for satellite launches and is developing new insurance products for the emerging space tourism market, including coverage for suborbital and multi-day space journeys. They collaborate with companies like ispace, ANA Holdings, HIS, Orbspace and JAXA to assess risks and develop specialized insurance plans, such as "Lunar Insurance," to support the growth and sustainability of the space industry. MSI aims to address risks associated with space travel, reusable rockets, and space debris, contributing to the development of a robust cislunar economy.
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Mitsui Sumitomo Finance & Leasing (SMFL) and its strategic subsidiary SMFL Mirai Partners signed a memorandum of understanding with Astroscale on February 20 to create a secondary-use market for satellites including development of an operating-lease business that uses on-orbit services.
ispace received a $22 million insurance payout for its first crashed Moon mission from Mitsui Sumitomo.
ispace obtained Lunar Insurance for Mission 2 from Mitsui Sumitomo Insurance Company, Limited.
Mitsui Sumitomo Insurance began working with ispace in 2019.
ispace has signed a Memorandum of Understanding with Mitsui Sumitomo Insurance, a Tokyo-based firm that began working with ispace in 2019, to insure its first attempt to send a lander to the moon.
Mitsui Sumitomo Insurance and ispace signed a Memorandum of Understanding to finalize insurance terms during 2022 for coverage of ispace Mission 1.
Mitsui Sumitomo Insurance Co., Ltd. was established in 1918 and merged with Sumitomo Marine & Fire Insurance Co., Ltd. in 2001 to form Mitsui Sumitomo Insurance Co., Ltd.
Mitsui Sumitomo Insurance Co., Ltd. is designing lunar insurance to support future business risks on the Moon.
Mitsui Sumitomo Insurance Company will work with ispace to develop a lunar insurance service intended to mitigate the risks associated with missions to the moon.
Mitsui Sumitomo Insurance Co., Ltd. integrated management with Aioi Insurance Co., Ltd. and Nissay Dowa General Insurance Co., Ltd. in 2010, leading to the creation of the MS&AD Insurance Group.
Mitsui Marine & Fire Insurance Co., Ltd. merged with Sumitomo Marine & Fire Insurance Co., Ltd. in 2001 to form Mitsui Sumitomo Insurance Co., Ltd.
Mitsui Sumitomo Insurance Co., Ltd. and ispace, inc. will cooperate to develop a lunar insurance service.