Marsh has placed the launch-plus-on insurance for Avanti Communications’ Hylas-2 satellite. The satellite has been insured for approximately for US$328m (£208m).
Avanti claims that the rate achieved represented a saving of US$15m (£9m) on the…
Marsh has placed the launch-plus-on insurance for Avanti Communications’ Hylas-2 satellite. The satellite has been insured for approximately for US$328m (£208m).
Avanti claims that the rate achieved represented a saving of US$15m (£9m) on the estimated cost for insurance included in the procurement budget for Hylas-2.
Commenting, Avanti Chief Executive, David Williams, said: “I am pleased to report that we have completed the insurance for Hylas-2 at such a competitive rate. This reflects not only a competitive insurance underwriting market but also the high quality of the Hylas-2 project and the experience of the Avanti team. Hylas-2 is on track for its launch in Q2, 2012.”
SatelliteFinance understands that the process of insuring Hylas-2 was smoother than its predecessor with the insurance market more comfortable with the design and concept despite it being a far more powerful spacecraft. Hylas-1 was one of the first satellites to be built by EADS Astrium and ISRO in collaboration and was originally due to be launched by SpaceX. Hylas-2 is being constructed by Orbital Sciences and despite containing 24 Ka-band beams compared to Hylas-1’s 8, is seen as a more ‘plain vanilla’ spacecraft.
