Insurance intermediary group Howden has announced Clive Strickland has joined the company to establish and lead its new dedicated Space insurance practice.
Howden has significantly enhanced its capacity to support clients in the rapidly expanding space sector with this strategic initiative, the firm stated, allowing it to provide end-to-end insurance coverage for space-related risks, encompassing everything from satellite launches to ongoing in-orbit operations.
This development is key given the market’s value, estimated by Howden to be around $600 million in annual global premiums, with projections for approximately 9% annual growth throughout this decade.
Jason Humphreys, Managing Director and Global Practice Leader, Aviation and Space, Howden, commented: “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.”
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