Relm Insurance, the Bermudian-based specialty insurance carrier supporting emerging and innovative industries, has announced that Francesca Faedi has joined the company as a senior adviser to support increasing client demand from the space sector.

The company said Dr Faedi is the director of Orbital Innovation Ltd, a lecturer at the University of Leicester on the space economy, and an “esteemed expert” in the field of aerospace.

In addition, she serves as the academic liaison for Commercial and Innovation Activities at Space Park Leicester.

“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 and founder of Relm.

“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.”

Joining forces with Relm’s Product Innovation & Emerging Risk team, the company said, Dr 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.

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.”

Dr Faedi said: “I am excited to join Relm as they continue to unlock ways to underwrite innovative industries.

“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.”

Dr Faedi attended the University of Rome Tor Vergata where she received her bachelor’s degree in physics. She then earned her master’s degree in astrophysics, space science and planetology at Université Paul Sabatier Toulouse III and went on to complete her PhD in astrophysics at The University of Leicester.