Marsh has placed insurance cover for the first space rocket launch from UK soil. Arranged on behalf of Space Forge and placed with Beazley, the policy covers risk of loss to the Forgestar payload.

The launch will carry, among other satellites, Space Forge’s Forgestar-0 prototype space factory that can create materials that cannot be made on Earth. Once operational, Forgestar will be the world’s first fully returnable and re-launchable satellite platform.

Commenting on the placement, Neil Stevens, senior vice-president, aviation and space, Marsh Specialty, said: “This is truly a historic moment for the UK, as both the ambition and capability to launch satellites into space becomes a reality. Insurance is a vital consideration for any mission which contemplates commercial space activity; Marsh is proud to work with Space Forge on this landmark project, which will take us all a step closer to in-space manufacturing.”

Beazley’s head of space, Denis Bensoussan, added: “In recent years, new space ventures have emerged as the fulcrum of innovation, investment and growth, and insuring the first orbital launch from UK soil carrying Space Forge’s first satellite is something we are naturally very proud of. This changing space industry requires different insurance solutions and we need to keep thinking ahead and innovating to enable and support its development.”

The launch is expected to take place this year at Spaceport Cornwall, one of the UK’s first domestic spaceports.

Space Forge’s CTO Andrew Bacon commented: "The upcoming launch is a huge moment for Space Forge. It's been an exciting journey so far, with lots to consider in terms of logistics, legality and security, alongside the actual development, installation and launch of our satellite. It's great to have another important milestone ticked off the list, having secured the correct insurance. It gives us peace of mind as we prepare for our inaugural mission with ForgeStar-0."

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