(MENAFN- GlobeNewsWire - Nasdaq) Hamilton, Bermuda, Dec. 03, 2025 (GLOBE NEWSWIRE) --

Relm Insurance, the leading specialty insurer for emerging and innovative industries, today announced a new suite of insurance products designed for the rapidly expanding space economy. These products equip brokers and clients with coverage that strengthens business resilience from early-stage development through to established technologies.

Building on its existing launch and in-orbit underwriting capabilities for next generation rockets and spacecraft, including cover for constellations, Relm is introducing two new specialized offerings:

• OMEGA SPACE: a combined financial, professional, and cyber tech policy for enterprises using space-based signals, data, and analytics to provide services to their clients.
• NOVA SPACE: a bespoke errors and omissions (E&O) policy for firms in the space supply chain.

Relm has also opened its SIGMA product suite to the space economy. SIGMA provides up to nine lines of insurance, from management liabilities to fiduciary and crime, for complex businesses that want the convenience of buying all critical insurance covers in one place.

INDUSTRY DEMAND FOR RESILIENT SOLUTIONS

The space industry is currently valued at over $630 billion, and forecasts suggest it could reach $1.8 trillion by 2035. Within that, McKinsey projects that the backbone of the space economy - satellites, launch, and in-orbit services like ground stations - will expand at twice the rate of global GDP, growing from roughly $330 billion in 2023 to $755 billion by 2035. Downstream revenues, led by communications, are expected to match that scale. For brokers and clients, this rapid development translates into new classes of risk, evolving capacity needs, and greater opportunities to secure specialized coverage.

“We're seeing a wave of new entrants in the space sector as companies push the boundaries of data, connectivity, and infrastructure,” said Joseph Ziolkowski, CEO and Founder of Relm Insurance.“Launch vehicles and launch site operations alone are projected to triple revenue from $13 billion to $32 billion by 2035. Ground station capacity is projected to expand fivefold while satellite deployments accelerate at an unprecedented pace. Our suite of space insurance products give companies and brokers the resilience they need with risk solutions that evolve as fast as the technologies they support.”

Each of Relm's three products is structured to let clients add or adjust layers over time. That flexibility helps brokers deliver tailored solutions as clients transition from concept to launch and into commercial operations.

HOW RELM'S PRODUCTS ADDRESS GAPS IN THE SPACE ECONOMY

Relm's product suite is designed to meet and mitigate structural challenges in the space economy:

• Supply chain resilience within the spacecraft manufacturing industry, covering failures of technology that may have knock-on effects including delay and missed launch.
• Under-insurance among smaller satellite operators.
• Data integrity risk for businesses that rely on space assets to provide critical services to their terrestrial customers.
• Cyber exposure across ground and network infrastructure.

Relm's model blends data-informed assessment with broker-led distribution for an approach that ensures access to reliable capacity and coverage clarity.

“Legacy insurance models assume siloed risk. In space, that doesn't work. Exposures overlap across hardware, software, launch, and data,” said Andrew Bonwick, Relm's VP of Product Development.“With OMEGA SPACE, NOVA SPACE, and SIGMA we've built products that mirror how companies actually operate. This makes it easier for brokers to structure protection that fits their clients' realities.”

He added,“Our aim is to make insurance an enabler of progress. If a company adds new payload capacity or a downstream data service, its coverage can evolve without friction.”

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ABOUT RELM INSURANCE

The Relm Insurance group of companies comprises Relm Insurance Ltd., a Bermuda-domiciled specialty insurance carrier supporting emerging industries and next-generation technologies, and its affiliates. Relm Insurance was launched in 2019 to address the scarcity of insurance capacity available to high-growth markets, and plays an active role in bolstering the resilience of innovative industries.

Relm's unrivaled industry expertise and solutions-driven track record make it a highly sought-after risk partner for businesses and institutions operating at the forefront of various industries including web3, digital assets, AI, biotech, and the space economy. Relm Insurance Ltd. has earned a Financial Stability Rating of 'A, Exceptional' from Demotech.

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