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New Eutelsat secures largest-ever insurance package - 20-May-2008, 21:50

Eutelsat secures largest-ever insurance package

May 20, 2008

The largest-ever insurance package has been placed for Eutelsat ahead of the launch of Hot Bird 9 this autumn.

The package, completed by broker Willis Inspace and the underwriter Lloyds, will provide a guaranteed premium rate on all satellites launched on behalf of the Paris-based operator over the next three years. The first satellite to be covered will be Hot Bird 9, due to be launched by an Ariane 5 rocket in the third quarter.

Eutelsats package covers approximately $2.4 billion of risk, although each satellite will still be individually underwritten.
   
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