As if the increasing likelihood of a total insurance loss claim for the Viasat-3 Americas satellite was not enough, Viasat has received more bad news. Inmarsat, its newly acquired subsidiary, has found itself in the unenviable position of making an insurance claim for the first time in its 44-year history, after one of its satellites failed during a slow post-launch orbital raising.
Inmarsat 6F-2 launch mission badge shows the satellite and the Falcon 9 launch vehicle. Courtesy: SpaceX
Inmarsat 6F-2, a dual payload High-Throughput Capacity communications satellite set to operate in geosynchronous Earth orbit (GEO), was launched in February on a Falcon 9 into a non-standard super-synchronous transfer orbit whose apogee was circa 41,500 km – about 5,500 km higher than the eventual GEO’s circa 36,000 km.
The Inmarsat 6F-2 satellite itself raised this apogee further to circa 50,000 km. An even higher apogee would allow an easier (more fuel efficient) slow removal of the 27-degree inclination as a result of its Cape Canaveral launch. At the same time Inmarsat 6-F2’s orbital perigee was also being slowly raised. However, Seradata understands while doing this orbital change (the apogee had been slightly reduced to 48,125 km and the perigee raised to 23,061 km, with the inclination now only 3.2 degrees) all contact was suddenly lost ten days ago. A battery charging fault/short circuit is suspected.
The insured value of Inmarsat 6F-2 is thought to be US$368 million – US$268 million on a main policy plus up to US$100 million on a top-up. A total insurance loss is now expected.
This loss, with the probable addition of a US$420 million pay-out for a total loss on Viasat 3 (following a fault on its main antenna dish), plus other smaller losses, is likely to overwhelm premium income for the whole market, which is estimated to be, at best, US$500 million for the year due to launch delays. It follows that the space insurance market is bracing itself for a losing year after a profitable one last year.
According to the Seradata database, the insurance market made a profit for 2022, with estimated gross premium income of circa US$550 million compared with losses of US$356 million.
