SatelliteFinance understands that Intelsat has retained Aon ISB for the launch-plus-one placement of its forthcoming satellites. The broker has been Intelsat’s placement agent for a number of years, securing a series of multi-satellite package deals…
SatelliteFinance understands that Intelsat has retained Aon ISB for the launch-plus-one placement of its forthcoming satellites.
The broker has been Intelsat’s placement agent for a number of years, securing a series of multi-satellite package deals including launch-plus-one coverage for eight birds back in 2007.
The broker tender has been ongoing since November 2013 and is understood to have been particularly competitive. Intelsat is a very attractive client given the size of its fleet and satellite order book, but Aon had recently lost two key executives who had worked with the operator in the past. US-based Tim Rush has moved to Marsh, while UK-based Tim Wakeman is heading to Willis. Nonetheless, the operator stuck with its existing broker relationship.
Intelsat has three satellites due to be launched in the next two years, Intelsat-30 in Q3 2014 and Intelsat-31 and Intelsat-29 (Epic-1) in the second half of 2015. A further two satellites, including Intelsat-33 (Epic-2), are due to be launched in 2016.
It is not known whether all five satellites will be insured under a single placement, although it is rumoured that there will be an initial two satellite package deal with the option to extend it.
