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Daily Insurance Industry News
Monday 15th of October 2018
August 5, 2010

JLT Aerospace secures ARABSAT satellite launch deal

by Gill Montia

Story link: JLT Aerospace secures ARABSAT satellite launch deal

London-based broker, JLT Aerospace, has been appointed by ARABSAT to work alongside Marsh in developing a bespoke insurance package for a multi-satellite launch programme.

ARABSAT was set up in 1976 by member states of the Arab League and has since become a leading satellite service provider to the Arab world, currently ranking among the top ten operators globally.

Commenting on the deal, JLT’s global head of space, Peter Elson, says: “This is a fantastic opportunity and a tremendous coup for JLT Aerospace.”

He adds: “ARABSAT is a premier league operator, which presents an extremely attractive risk profile to the insurance market.”

Alan Griffin, chairman of the broker’s parent company, JLT Reinsurance Brokers, describes the win an important milestone for JLT Aerospace, adding that aerospace clients now have a viable alternative for their risk and insurance needs.

The first launch in the programme, which is scheduled for next year, involves a satellite manufactured by EADS and Thales on board an Ariane launch vehicle.

Assuming all goes well the satellite will take up a geostationary orbital slot 36,000 kilometres above the equator.

 

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