Howden launches space insurance unit led by Clive Strickland

The company estimates that annual space insurance premiums total about $600m.

Howden has created a dedicated space insurance business, appointing Clive Strickland to lead the new operation as the broker aims to expand its presence in the global space market.

Strickland, who has more than 25 years of experience in space insurance, is known for building and developing space teams in previous roles. 

He brings long-standing market relationships and technical expertise to Howden. 

The new unit will provide insurance solutions for satellite operators, manufacturers, launch providers, government bodies and commercial space ventures. 

Howden said the capability will cover risks from launch through in-orbit operations.

The company estimates that annual global space insurance premiums total about $600m and expects the market to grow roughly 9% a year over the rest of the decade.