Relm joins the space race

Bermuda-based Relm Insurance has appointed a space expert to support increased client demand for that sector. 

Francesca Faedi is the director of Orbital Innovation and a lecturer at the University of Leicester on the space economy. She also serves as the academic liaison for Commercial and Innovation Activities at Space Park Leicester.

Faedi, who holds a PhD from Leicester, said: "As investment in transformational technology and infrastructure within the space economy accelerates, we are working closely with our broker network, sector experts and insureds to develop innovative and aligned insurance solutions to support this growth," said Joseph Ziolkowski, chief executive officer and founder of Relm Insurance. 

"Relm's collaboration with Francesca and her invaluable domain expertise will enhance our ability to deliver cutting edge insurance solutions and help build resilience within the space economy."

Working with Relm's product innovation and emerging risk team, Faedi will leverage her extensive expertise and resources to drive the development of tailored insurance solutions designed to support the rapid growth and evolving needs of the space economy, which is estimated to reach $1.8 trillion by 2035.

"I am excited to join Relm as they continue to unlock ways to underwrite innovative industries," said Faedi. "My expertise and market presence within the sector will enable them to rethink how the insurance industry addresses the risks and opportunities within the space economy."

Claire Davey, who heads the team, said: "The new space economy is no longer solely the preserve of states and giant multinationals. Reduced launch costs and increased accessibility attract new investments into new use cases, from medical manufacturing techniques to asteroid mining. We're excited to work with the sector to help make this happen."

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