AXA Space is an underwriting manager for space and telecommunications insurance. The company, which provides property and business interruption coverages for launchers and satellites, was founded on the premise that space insurance could only be underwritten profitably by using technical and engineering information to discriminate against unacceptable risks. AXA Space was the first company to be devoted exclusively to technical space underwriting. From its founding in 1981 until 1998, the company was known as International Technology Underwriters (INTEC).

AXA Space has the exclusive space underwriting authority for AXA Insurance Company and also negotiates and manages a comprehensive reinsurance program on its behalf. Supporters of the AXA Space program include many of the world’s leading insurance and reinsurance companies.

The aerospace industry and insurance brokers rely on AXA Space’s expertise, as do the reinsurers which participate on the company’s reinsurance program. Representatives of the company are often asked to assist in advising the government on industry issues by serving on advisory committees and failure investigation review boards.

AXA Space underwrites space and telecommunications projects following a three step process. The first step is to conduct a thorough assessment of the technical aspects of the project, beginning with the subsystems of each satellite, the test program, and the demonstrated and predicted reliability of the component parts. A similar analysis is done for the launch vehicle, and the results are compiled with the satellite review to arrive at a risk assessment for the overall mission. Assuming the results of the technical review show that the risk of loss is quantifiable and acceptable, the second step is to evaluate whether the coverage requested is consistent with the satellite’s capabilities and whether the policy clearly describes the coverage. The final step in the underwriting process is to develop a premium rate for the risk. AXA Space’s aim is to provide the best level of service to its insureds while achieving a level of underwriting profits which ensure continued support from reinsurers.

     
  AXA Space is a member of the PARIS RE group of companies. PARIS RE is the successor to the business of AXA Re of the AXA Group.

For more information, please see the PARIS RE website.