From new satellite technology, to novel ways to launch, to commercial flights, the global space industry is advancing at a rapid pace, with expectations that it will be worth around US$1.8 trillion by 2035, when accounting for inflation — a significant leap from 2023’s estimated value of US$630 billion. Massive technology innovations and a lower cost to entry are propelling this growth.
Although major advances are bringing huge opportunities for the space industry and increasing the accessibility of space, senior leaders need to effectively address technical, financial, and regulatory challenges.
In this episode of Risk in Context, Stephen Monks and Adam Sturmer, both Managing Directors for Space Projects at Marsh, speak with Denis Bensoussan, Head of Space at Beazley Insurance, about the opportunities facing the industry and share advice on actions that leaders should consider to strategically manage evolving and emerging risks.
Managing Director, Space Projects, Marsh Specialty Aviation & Space, United Kingdom
United Kingdom
Stephen Monks is a Managing Director for Space Projects. He is responsible for the overall management of the London space team. He coordinates Marsh Specialty’s space activities on technical and insurance coverage and advises clients on a wide variety of technical and insurance coverage issues.
Managing Director, Space Projects, Marsh Specialty Aviation & Space, United Kingdom
United Kingdom
Adam Sturmer is a Managing Director for Space Projects. Based in London, he works with satellite operators, launch service providers, satellite manufacturers, and others to provide space risk management and insurance placement services and the delivery of fully tailored risk and insurance solutions.
Head of Space, Beazley, United Kingdom
United Kingdom
Denis Bensoussan is the Head of Space at Beazley with more than 20 years of experience in the industry. Prior to starting the Beazley Space Division in 2014, he worked for the Hiscox Space unit, in aerospace departments at Marsh, at international law firm Simmons & Simmons, and at the European Space Agency, the United Nations, and the European Commission. He is also the Chairman of the London Market Association Satellite Risk Committee.
