Pembroke leads $285mn SpaceX loss

Matthew Neill 6 September 2016

Lloyd’s managing agent Pembroke is the lead underwriter for the $285mn loss caused by the explosion of a SpaceX rocket in Florida last week, The Insurance Insider can reveal.

It is understood the incident will be covered under Pembroke’s pre-launch consortium, with Chaucer, Talbot, WR Berkley and XL Catlin among those writing following lines.

Marsh placed the policy for satellite owner SpaceCom.

Losses will hit Pembroke’s consortium in the marine cargo market rather than the space market as the accident…

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from Department of Private Space Inc.