Space insurers are forecast to earn profits of around $US400 million ($436 million) this year should favourable conditions continue, according to Aon subsidiary International Space Brokers (ISB).

Revenue from all risks launch and in-orbit insurance is expected to exceed $US800 million ($873 million) for the year, with losses so far between $US400-450 million ($436-$491 million).

A profitable space insurance market is also expected to result in more competitive premiums for satellite operators as the capacity for space risks continues to increase.

ISB says rates have gradually fallen throughout the year. Space Business Unit Leader Clive Smith says broadband, television and surveying needs have led to a growing demand for satellite communication capacity.

“The health of the insurance industry means it is well positioned to support satellite programs by providing sufficient capacity to satisfy investor requirements,” he said.

Space insurers have reported profits in four of the past five years, with the only deficit occurring in 2007.