Howden Launches Dedicated Space Insurance Practice Amid Industry Boom

Howden has launched a new dedicated Space insurance practice to meet rising demand in the sector. The move comes as the global space insurance market continues to expand rapidly. Industry veteran Clive Strickland will lead the initiative, bringing over 25 years of experience to the role. Strickland’s appointment strengthens Howden’s ability to support clients in the fast-growing space industry. His track record includes successfully building and expanding specialist space teams. The company now offers end-to-end insurance solutions for space-related risks.

The space insurance market is currently valued at around $600 million in annual premiums. Analysts expect it to grow by roughly 9% each year throughout the 2020s. Jason Humphreys, Managing Director and Global Practice Leader for Aviation and Space at Howden, highlighted the strategic importance of Strickland’s role in meeting this demand. With Strickland at the helm, Howden aims to provide comprehensive coverage for satellite launches, in-orbit operations, and other space ventures. The new practice will help clients navigate risks in an industry projected for steady growth. This expansion aligns with the company’s broader push into high-specialisation insurance markets.