Business & Finance
Business and Finance
Business and Finance
Wed, October 12, 2011 Inmarsat Selects Willis asits Space Risk ManagementAdvisor and Broker
LONDON--([ BUSINESS WIRE ])--Following a detailed review and competitive tender amongst leading space insurance brokers, mobile satellite operator Inmarsat has awarded Willis Group Holdings (NYSE: WSH), the global insurance broker, an exclusive appointment to act as its risk management advisor and placing broker for its new generation of satellites.
The agreement covers the launch and in-orbit operation of Inmarsata™s highly anticipatedbroadband satellite network, Global Xpress, and the additional launch of the Alphasat satellite. The appointment also includes responsibility for Inmarsata™s current in-orbit fleet.
Using high-power Boeing702 type satellites, Global Xpress will deliver mobile broadband to the world at speeds of up to 50Mbps on devices as small as 60 centimetres.
Inmarsata™s Alphasat will be the first launch of The European Space Agencya™s newly-developed Alphabus, the worlda™s largest communications satellite platform.
Willis will be charged with creating and implementing a risk mitigation strategy for Inmarsata™s suite of technology that can be effectively valued by the insurance community. The role requires a multi-disciplined approach, bringing together expertise in engineering, risk management, and technical analysis.
The appointment follows the selection of Willis as insurance broker to Inmarsat for all non space policies at the beginning of 2010.
Roger Bathurst, CEO of Willis Inspace, who led the bid team, said: "We are absolutely delighted to have been chosen to represent Inmarsat. This is the result of a tremendous all roundperformance and is the clearest possible illustration of the strength and depth of the Willis team. To be at the forefront of one of the most dynamic and exciting satellite projects in the world is a great honour."
About Willis
Willis Group Holdings plc is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers professional insurance, reinsurance, and risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 17,000 employees serving clients in virtually every part of the world. Additional information on Willis may be found at [ www.willis.com ].
