Move into space satellite and launch insurance supports broker’s ambition to grow its presence in the fast-developing global space market
Howden has created a dedicated space insurance practice and appointed industry veteran Clive Strickland to lead the new capability.
The broking group said the move reflects its ambition to become a leading broker in the global space insurance market, offering solutions for satellite owners, manufacturers, launch providers, government agencies and commercial operators.
Strickland (pictured) is regarded as one of the sector’s most experienced specialists, with more than 25 years in the market.
He has previously built and expanded space teams in senior roles and brings extensive relationships and sector knowledge to Howden.
The new practice will enable Howden to offer coverage for space risks ranging from satellite launches to in-orbit operations.
The broker noted that global space premiums are worth around $600m a year and are expected to grow by about 9% annually through the decade.
Jason Humphreys, managing director and global practice leader for aviation and space at Howden, said Strickland’s arrival underlined the firm’s commitment to building a world-class space capability.
He said: “Clive’s appointment reflects Howden’s commitment to building a world-class space capability.
“His knowledge, drive, and leadership will not only help us deliver exceptional solutions for clients but also develop the next generation of space insurance specialists within Howden,” Humphreys added.
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