"Azerspace-2" will be insured by "Pasha" instead of "Qala" - The price has doubled

The winner of the tender (open tender) held by the Space Agency of the Republic of Azerbaijan ("Azercosmos") has been announced.
Yeniavaz.com reports with reference to the published official information, according to the results of the tender, Pasha Insurance OJSC (VÖEN- 1400837161) will provide insurance services for the Azerspace-2 satellite for a period of one year (09/26/2024 - 09/26/2025).
For this service, "Azercosmos" will pay "Pasha Insurance" 1 million 581 thousand manats.
The information says that the cost of the "Azerspace-2" satellite is 81 million dollars (138 million manats).
It should be noted that the satellite insurance services for Azerspace-2 were previously provided by Qala Insurance OJSC (VÖEN- 1700066901). Azercosmos paid Qala Insurance 865 thousand 300 manats for the annual insurance of Azerspace-2.
As follows from the published information, Azercosmos will pay Pasha Insurance almost 2 times more for the same service than Qala Insurance paid.
It should also be noted that in June of this year, Azercosmos entrusted Pasha Insurance with the insurance services for another satellite, Azerspace-1. Pasha Insurance OJSC will receive 1 million 436 thousand 500 manats from Azercosmos for the insurance services of the Azerspace-1 satellite for a period of one year (04.06.2024-04.06.2025).
Previously, the Azersky satellite, which was a surveillance satellite of Azerbaijan, was also insured by Pasha Insurance OJSC. In 2022, Azercosmos paid Pasha Insurance an insurance premium of 518 thousand manat for the Azersky satellite worth 45 million manat.

Elnur Ali