The Swiss insurance group ZFS - ZURICH FINANCIAL SERVICES has announced the acquisition of 40% of the capital of the Italian insurance firm SATEC, specialised in insurance for space launchings. SATEC groups 10 companies representing a total premium volume capacity of $48.5 million in 2001. The transaction, the amount of which has not been disclosed, was carried out for ZFS by its reinsurance subsidiary ZURICH REINSURANCE.