Global specialty re/insurer Canopius has appointed Richard Parker to serve as joint head of space alongside Chris Gibbs, and underwriting assistant Kelly Bromley.
Both Gibbs and Bromley assumed their new roles in the US on October 1, making Canopius’ space team one of the largest in the market.
Parker brings over 34 years of space insurance experience in international markets to Canopius and most recently served as divisional president of Assure Space LLC, an underwriting agency he founded in 2011.
He has held senior roles within the space divisions of Partner Re and AXA.
Bromley has three decades of business management experience, having spent 22 years in the satellite insurance market, primarily focussed on treaty management and technical accounting.
She joins from Assure Space, of which she was also a founding member, and held the position of reinsurance treaty manager.
“With Richard and Kelly joining Chris Gibbs and colleagues, this will create one of the most experienced and capable teams in the space insurance market,” said Christopher Jarvis, joint active underwriter, Canopius.
“With increasing satellite launches driven by demand for broadband, older satellites being replaced and International Space Station resupply schedules becoming more regular, considerable opportunity exists.
“Canopius has built a preeminent capability that is ideally positioned to capitalise on this and places Canopius among the top space insurers internationally.”
Gibbs added, “I am delighted to welcome Richard and Kelly to the space team at Canopius, both of whom will significantly enhance our current capabilities.
“Their joining not only provides Canopius’ space proposition with an extremely well-connected US footprint but, with the capacity from Assure Space set to combine with ours, this will make Canopius a top 5 space insurance market.
“Their considerable combined expertise gained in the insurance market and also the space industry will be hugely valuable to our clients and our strategic ambitions.”
