Howden Launches Dedicated Space Insurance Practice Amid Industry Boom

Howden has launched a new dedicated Space insurance practice to meet the growing demand in the sector. The company has appointed Clive Strickland, a veteran with over 25 years of experience, to lead the initiative. This move strengthens Howden’s ability to provide full insurance coverage for space-related risks. The global space insurance market currently holds around $600 million in annual premiums. Industry forecasts suggest it will expand by roughly 9% each year throughout the 2020s. Howden’s new practice aims to tap into this growth by offering tailored solutions for clients.

Clive Strickland brings a wealth of expertise to the role, having previously built and expanded space insurance teams. His leadership will focus on developing innovative coverage options and nurturing the next generation of specialists within Howden. Jason Humphreys, Managing Director and Global Practice Leader for Aviation and Space at Howden, welcomed the appointment, highlighting Strickland’s knowledge and drive as key assets. The new practice will provide end-to-end insurance support for the space sector. This includes coverage for satellite launches, in-orbit operations, and other related risks. Howden’s initiative reflects the increasing complexity and scale of commercial space activities.

Howden’s new Space insurance practice is now operational under Clive Strickland’s leadership. The company can now offer comprehensive risk management for an industry projected to grow steadily. This expansion positions Howden as a key player in the evolving space insurance market.