SES Strikes Insurance Deal

SES Global’s U.S. unit has closed one of the largest insurance placements ever in the space market, company officials said. The package covers six communication satellites to be launched over the next two years. The book value of the package is over $1.3 billion; specific terms were not disclosed. The performance history of SES satellites helped to secure a performance-based placement with rates not available in the space markets since 2000, company officials said. The placement was coordinated by Marsh Space.