The insurance payout for the Progress MS-04 spacecraft lost Thursday is estimated at 2.5 billion rubles (about $39 million at the current exchange rate), a source in the Russian insurance market said.

"A conclusion will be made only after documents and circumstances surrounding the accident are studied. The insurance payout should be at about 2.5 million rubles," the source said.

The Progress MS-04 robotic supply ship was launched atop the Soyuz-U carrier rocket from the Baikonur space center in Kazakhstan at 17:51 Moscow time. Later, Russia’s space agency Roscosmos reported that the spacecraft was lost after an anomaly occurred during the third stage operation.

The spacecraft burned up in the atmosphere, and the remaining debris fell in a remote unpopulated area in Russia’s southern Siberian republic of Tuva.