SpaceNewsreports that Swiss Re has left the space insurance market due to losses.
Jan Schmidt, the head of Swiss Re’s space underwriting division, said in an email obtained by SpaceNews that the decision to “cease Space underwriting with immediate effect” was driven by “bad results of recent years and unsustainable premium rates.”
Schmidt emailed clients and brokers the same day Swiss Re board member Andreas Berger told Reuters the company is reducing its space exposure as part of a broader effort to stem losses in its corporate insurance divisions.
Swiss Re is the world’s second largest reinsurance company.
The failure of an European Vega rocket last month resulted in $407 million (369 million euros) in losses to the insurance industry. The United Arab Emirate’s Falcon Eye 1 satellite was lost in the failure.
That accident followed on the heels of a $183 million claim by Maxar Technologies after the WorldView-4 satellite failed in orbit.
WEBSTER, Texas, July 29, 2019 (NanoRacks PR) — The 18th cargo resupply mission to the International Space Station from SpaceX delivered a historic mission for NanoRacks. NanoRacks, the leading provider of commercial access to low-Earth orbit, transported the materials for the science experiments that will be conducted by the first Emirati astronaut upon his arrival to the International Space Station (ISS) in late September, 2019.
NanoRacks also launched the first-ever microgravity experiment from Young Living – the world-leader in essential oils, amongst other educational research. Collectively, this amounts to NanoRacks’ single largest mission to the Space Station to date.
Spacewatch Globalreports on efforts to attract NewSpace and other technology companies to Abu Dhabi:
Abu Dhabi’s sovereign wealth fund Mubadala is set to create a start-up ecosystem in Abu Dhabi that will attract New Space and other emerging technology companies to the Gulf Arab state. The ecosystem will be called Hub71 and will include Softbank’s Vision Fund and Microsoft as partners, according to Khaldoon Khalifa Al Mubarak – Mubadala’s Chief Executive Officer – in an interview with Nikkei Asian Review.
Hub71 is being funded by Mubadala to the tune of one billion Dirhams (U.S.$272 million) that will be used for subsidizing or to co-invest in promising startups involved in New Space, artificial intelligence, biotechnology, and microelectronics. Hub71 will be based in the financial district of Abu Dhabi, the capital city of the United Arab Emirates, and is part of the UAE’s overall strategy of diversifying its economy away from its dependency on hydrocarbons.
Mubadala manages assets worth over U.S.$250 billion in the United States, Europe, and more recently, in the Asia-Pacific region. Mubadala’s investments in Asia – totaling U.S.$15 billion to date – have been primarily made via Softbank’s Vision Fund.
The UAE Space Agency today announced the creation of the Arab Space Coordination Group to facilitate cooperation among its 11 member nations.
Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, announced the group’s formation and attended a signing ceremony during the Global Space Congress in Abu Dhabi.
In addition to UAE, charter members of the new group include Algeria, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Saudi Arabia and Sudan.
The coordination group’s first project will be the development of the UAE-funded spacecraft 813, an observation satellite that will monitor the Earth’s environment and climate. The satellite will be built over the next three years by engineers from member countries at United Arab Emirates University’s National Space Science and Technology Center in Al Ain.
The satellite’s name is a homage to the year in which the House of Wisdom was founded in Baghdad under the reign of Al-Ma’mun. The house embraced scientists from throughout the region, who translated notable texts and advanced science.
“The Satellite 813 is a message the UAE is sending to the Arab communities on the ambitions to regain Arabs glories as pioneers in the space domains,” said Dr. Ahmad bin Abdullah Humaid Belhoul Al Falasi, Cabinet Member and Minister of State for Higher Education and Advanced Skills, and Chairman of the UAE Space Agency.
ABU DHABI, UAE (UAE Cabinet PR) — The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has adopted the National Space Strategy 2030 during its meeting at the Presidential Palace in Abu Dhabi.
The Cabinet meeting was attended by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
Sheikh Mohammed asserted that the UAE has established an economic powerhouse and advanced infrastructure by young Emirati talents, which enabled it to be at the forefront of the space exploration industry today.
The United Arab Emirates (UAE) Cabinet has approved a National Space Strategy to guide the UAE until 2030, The National reports.
The strategy includes 79 projects in the areas of science and space research, manufacturing, assembly and testing in addition to the commercial space service sector, Sheikh Mohammed [bin Rashid] said.
“Last year we celebrated the launch of the first satellite fully built by young Emirati engineers, and in the very near future we will see them operating international space technology centers, based in the UAE,” he said in a news release from the Cabinet office.
“We will see Emirati cadres, highly skilled and specialised in space science, achieving scientific breakthroughs that serve the entire humanity.
“We are investing in the space industry, with ambitious projects and initiatives that will benefit our citizens and contribute to key sectors of the national economy. This is an important milestone for our country, and we are aiming to become a model for countries seeking to launch ambitious space programmes.”
Meanwhile, two Emirati astronauts — Hazza Al Mansouri, 34 and Sultan Al Neyadi, 37 — are in training in Russia for a spaceflight to the International Space Station aboard a Soyuz spacecraft in September. It has not been announced which astronaut will fly with Russian commander Oleg Skripochka and American astronaut Chris Cassidy.
The United Arab Emirates (UAE) is looking to host flights of Virgin Galactic’s SpaceShipTwo, The Nationalreports.
Mohammad Al Ahbabi, director of the UAE Space Agency, said the organisation is working with Virgin Galactic on a bid to operate tourist space flights from Al Ain International Airport in the coming years….
“The reason why the company opted for Al Ain airport is that it is less crowded than other UAE airports, which are scheduled with thousands of flights.”
Airbus has used Al Ain airport to stress test its new aircraft in high summer temperatures, including the wide-body A350.
It was chosen for its hot, dry conditions and relatively quiet runways.
Abu Dhabi is part-owner of Virgin Galactic having invested $390 million in the company through its sovereign wealth fund, Mubadala Investment Company (formerly known as aabar Investments).
We announced today our first astronauts to the International Space Station: Hazza Al Mansouri and Sultan Al Nayadi. Hazza and Sultan represent all young Arabs and represent the pinnacle of the UAE's ambitions.
We have the region's only Mars exploration program, a fully operating satellite manufacturing capability and an astronaut program as part of our Dhs 20 billion investment in the space sector. The secret is our young Arab people and their capabilities.
DUBAI (MBRSC PR) — The Mohammed bin Rashid Space Centre (MBRSC) announced that 9 candidates have qualified for the final evaluation phase of the UAE Astronaut Programme.
The Programme was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, as part of the UAE National Space Programme.
It aims to train and prepare a team of Emiratis to be sent to space for various scientific missions. This supports the intensive preparations to send the first Emirati and Arab astronaut to the International Space Station (ISS) in April 2019.
The game of musical chairs for four slots in the United Arab Emirates astronaut program continues at the Mohammad Bin Rashid Space Centre (MBRSC).
Out of 18 candidates, nine passed the one-to-one interviews in the MBRSC and are scheduled to undergo an intensive assessment in Russia by experts from Roscosmos.
Once the assessment is completed, the UAE will be choose the first Emirati astronaut corps out of four Emirati astronauts. The tests will be conducted by experts from Yuri Gagarin Cosmonaut Training Center, and will include intensive medical and physical tests to ensure that candidates are ready for special space-related training.
The center has book a ride to the International Space Station for its first astronaut aboard a Russian Soyuz spacecraft for 2019.
The Nationalreports that the United Arab Emirates has a short list for its astronaut corps.
With 4,022 Emiratis originally applying, a shortlist of 95 men and women was whittled down to 39. Now now the remaining 18 candidates will proceed to the final interview stage.
Four of these will form the country’s first astronaut corps and travel into space. The first UAE astronaut will lift off next April as part of the agreement reached with Roscosmos, the Russian Space Agency.
As part of the crew on a Soyuz spaceship, they will spend 10 days conducting scientific research on the International Space Station (ISS) before returning to Earth.
The 39 went through a round of tests that included a range of activities to measure intelligence, aptitude, neurocognitive ability, personality, and working memory, according to the MBRSC.
DUBAI (Dubai Media Office PR) — Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum said that sending the first Emirati astronaut to space will herald the beginning of a new era for the UAE and represents another step towards achieving the country’s vision and aspirations for the space sector.
The Mohammed bin Rashid Space Centre (MBRSC) has received over 4,000 applications (aged between 17 and 67) from Emiratis aspiring to join the UAE Astronaut Programme, which was launched in December 2017 and was open for registrations for three months until March 2018.
Funded by ICT Fund of the Telecommunications Regulatory Authority (TRA), the programme saw females constitute 34% of applicants…
The top four candidates who will form the UAE Astronauts Team by the end of 2018 will then undergo a series of training programmes divided into year-long basic training modules and advanced training modules, which will be conducted over three years.
They will also travel to global Astronaut Training Centres for more preparation, as well as the International Space Station (ISS) for a range of scientific research projects and experiments in various disciplines. Each experiment and mission will have different objectives, though the UAE’s mission will be to contribute to humanity’s knowledge and support national and international future space missions.
The United Arab Emirates (UAE) has launched a call for astronauts candidates which it says will fly to the International Space Station (ISS) within the next five years.
The astronauts will visit the ISS “to carry out vital experiments and work that will contribute to the scientific community’s understanding of human space flight to meet future challenges, such as a manned mission to Mars,” according to the astronaut application website.
Astronaut candidates will go through basic training in 2019 and 2020 and then proceed to advanced training in 2020 to 2021 followed by assignment to a spaceflight.
UAE and the Russian space agency Roscosmos are negotiating to send UAE astronauts to the space station aboard Soyuz spacecraft, a Russian official recently confirmed. It is not clear whether the UAE has approached or will approach Boeing and SpaceX about flying astronauts on the companies’ commercial crew vehicles.
The Mohammed bin Rashid Space Centre (MBRSC) is managing the astronaut selection process.
The UAE has increased investment in space in recent years. The nation is launching an orbiter to Mars and is planning to build a simulated Mars city in the desert where scientific work and experiments can be carried out.