JLT Wins ARABSAT Account and Enters the Space Insurance Market
9th August 2010, London: JLT Aerospace, the leading London-based aerospace insurance broker, has been appointed by ARABSAT to develop a bespoke insurance programme for a multi-satellite launch programme in conjunction with Marsh. The first launch is scheduled to take place next year and will involve a satellite manufactured by EADS and Thales on board an Ariane launch vehicle. The satellite will be launched into a geostationary orbital slot 36,000 kilometres (over 22,000 miles) above the equator.
ARABSAT is a fast-growing communications satellite operator established in 1976 by the member states of the Arab League and headquartered in the city of Riyadh, Saudi Arabia. It currently ranks among the top ten operators globally and is the leading satellite service provider in the Arab World.
Peter Elson, Global Head of Space at JLT Aerospace, commented, "This is a fantastic opportunity and a tremendous coup for JLT Aerospace. ARABSAT is a premier league operator, which presents an extremely attractive risk profile to the insurance market. Since the brokerage industry consolidated, major space clients like ARABSAT had only been able to look to a few US-owned brokers to insure their launch risks in the global marketplace. The role of JLT Aerospace will be central to formulating and placing this exciting risk programme for ARABSAT."
Alan Griffin, Chairman and CEO of JLT Reinsurance Brokers Ltd, the parent company of JLT Aerospace, added, "This appointment is an important milestone for JLT Aerospace. We have proved that we have capabilities and expertise in all sectors of the aerospace insurance industry. With JLT, aerospace clients now have a viable alternative for their risk and insurance needs, which is great news for insurance buyers."
--ENDS--
Enquiries:
Jardine Lloyd Thompson Group plc
Paul Dransfield
Tel: 020 7528 4933
Editor's Notes:
About Jardine Lloyd Thompson Group plc
Jardine Lloyd Thompson Group plc (JLT) is an international group of Risk Specialists and Employee Benefits Consultants and one of the largest companies of its type in the world. JLT offers a distinctive choice to clients and partners through our combination of independence, scale and specialism.
Jardine Lloyd Thompson Group plc is quoted on the London Stock Exchange and employs 6,200 people worldwide and through JLT International Network provides services in more than 120 countries.
Contact Details
|
