Relm Insurance recruits space economy expert
Company begins MENA operations
Relm Insurance, a Hamilton, Bermuda-based speciality insurance provider for emerging and innovative industries, has appointed Dr Francesca Faedi as a senior advisor to enhance its capacity to meet the rising insurance demands of the space industry.
Dr Faedi, the Director of Orbital Innovation and a Lecturer on the Space Economy at the University of Leicester, brings a wealth of knowledge to Relm.
Her roles include the Academic Liaison for Commercial and Innovation Activities at Space Park Leicester. With her extensive aerospace and space economy background, Faedi is well-positioned to guide Relm in developing cutting-edge insurance solutions tailored to the rapidly evolving space sector.
Joseph Ziolkowski, CEO and Founder of Relm Insurance said: “As investment in transformational technology and infrastructure within the space economy accelerates, our collaboration with Francesca and her unparalleled expertise will enhance our ability to deliver innovative insurance solutions and support the growth of this sector.
“Her insights will be invaluable as we work closely with brokers, experts, and insureds to address the unique challenges and opportunities presented by the space economy.”
Targeting dynamic needs
Faedi joins Relm’s Product Innovation & Emerging Risk team, where she will leverage her extensive expertise to develop specialised insurance products that address the dynamic needs of the space economy—a sector projected to reach $1.8 trillion by 2035.
Claire Davey, PhD, who leads Relm’s Product Innovation & Emerging Risk team, noted: “The new space economy is expanding beyond the reach of traditional state and multinational players. With reduced launch costs and greater accessibility, new investments are pouring into diverse applications, from medical manufacturing to asteroid mining.
“We are thrilled to partner with Francesca to help navigate these advancements and support the sector’s growth.”
Faedi expressed enthusiasm about her new role: “I am excited to join Relm as they continue to explore innovative ways to underwrite emerging industries. My background and connections within the space sector will help Relm address the unique risks and opportunities in this dynamic field.”
Astrophysics doctorate
Faedi earned her bachelor’s degree in physics from the University of Rome Tor Vergata and a master’s in astrophysics, space science, and planetology from Université Paul Sabatier Toulouse III. She completed her PhD in astrophysics at The University of Leicester.
Relm Insurance specialises in supporting high-growth markets, including Web3, digital assets, AI, biotech, and the space economy. Founded in 2019 to fill the gap in insurance capacity for these innovative sectors, Relm is recognised for its exceptional accomplishment and possesses a Financial Stability Rating of A, Exceptional, from Demotech.
MENA foray
In the meantime, Relm Insurance has entered the Middle East and North Africa (MENA) region by acquiring B&F Partners, which now operates as Relm Insurance MENA. The strategic acquisition, authorised by the Dubai Financial Services Authority, positions the company as a leading provider of specialised insurance solutions for high-growth and emerging sectors such as AI, Web3, and the space economy.
Regulated by the Bermuda Monetary Authority, Relm Insurance is set to bring its underwriting expertise and innovative insurance products to the MENA market to support high-growth industries with specialised insurance solutions.
Joseph Ziolkowski, Founder and CEO of Relm Insurance, said: “This acquisition opens new opportunities for us to engage more directly with distribution partners in the UAE and the broader MENA region, catering to the insurance needs of rapidly evolving industries.” He emphasised the company’s goal of enhancing the resilience of businesses in these dynamic sectors.
Bruno Bertucci, CEO of Relm Insurance MENA, added: “Dubai’s emergence as a global finance hub, supported by progressive regulations for cryptocurrencies and blockchain, aligns perfectly with our mission to address complex risks in innovative markets.”
Relm Insurance MENA operates as a Managing General Agent from its Dubai office, collaborating closely with local brokers to ensure accessible and adequate insurance coverage for its clientele.
Featured image: File photo of the launch of five new ICEYE SAR satellites onboard a SpaceX Falcon 9 rocket from Cape Canaveral, Florida, on May 25, 2022. Credit: ICEYE
