Azerbaijan’s Space Agency (Azercosmos) under the Ministry of Digital Development and Transport has concluded an open tender for the orbital insurance of the Azerspace-1 telecommunications satellite, which is valued at $53 million, for 2025, Report informs, citing the unified state procurement portal.

According to the state procurement portal, Qala Insurance OJSC is the winner of the tender and will receive 1.377 million manats ($810,000) for providing the insurance.

In previous years, PASHA Insurance OJSC insured the Azerspace-1 satellite, valued at $66.5 million in 2024 and $80 million in 2023. The company was paid just over 1.436 million manats ($845,000) and 946,500 manats ($556,764), respectively, for these services.