Lockton Launches New Global Space Practice

Member Updates,

Lockton, the world’s largest independent insurance broker, has launched a new global space practice led by Ian George, head of space, and joined by Russell Sawyer and Mark Williamson as account executive and consultant respectively.

The new team will offer a suite of products, specifically tailored to individual client needs across the full breadth of the space industry. Core coverages include transit and pre-launch, launch and initial in-orbit, subsequent in-orbit, space third party liabilities and loss of revenue. The practice will enhance Lockton’s space capabilities throughout its network of global offices.

Whilst the need for traditional space insurance will continue to exist for historical geostationary satellite operators and manufacturers, this is now coupled with the emergence of an ever-expanding number of ‘New Space’ programs. Lockton’s team are experts in this new generation of highly diverse and technically advanced space risks, offering the most innovative and market-leading solutions to its clients.

Ian George brings extensive and wide-ranging expertise with over 25 years of space insurance experience. He joins from PIIQ Risk Partners where he served for three years in their newly formed space team. Prior to this, he worked at Willis Towers Watson for 24 years, starting as a projects and research analyst in the Aviation Division and working up to regional director.

Russell Sawyer joins the space practice as account executive. Russell also joins from PIIQ Risk Partners and brings with him an impressive track record, having accumulated almost thirty years of industry experience at Willis Towers Watson, where he held the position of executive director. Mark Williamson will also join on a consultancy basis, sharing his almost four decades of space technology consultancy expertise.

“Space insurance is a complex and dynamic field, reflecting the high-risk nature of space activities. It requires a deep understanding of both the technical aspects of space operations and the financial implications of the risks involved. Extending Lockton’s leading capabilities in the U.S. and launching a dedicated team in London has long been an aspiration contingent on us finding the right team who shared our client centric focus and could immediately propel us to the forefront of the market," EJ Hentenaar, CEO of Lockton Europe. "Ian, Russell and Mark are renowned across this market. Their experience and expertise is second to none and they are the ideal candidates to launch our new offering.”