A London-based company has built a specialty managing general agent developing parametric insurance products for space-related risks.

Orbway Group said it combines ground-based measurements, orbital data and spacecraft telemetry to define clear, objective insurance triggers.

The company is focused on building practical insurance solutions for modern space missions and working with capacity partners to expand access to space risk protection.

It has secured its insurance agent licence from the Bermuda Monetary Authority, giving the company the regulatory foundation to launch from Bermuda as a specialty MGA.

Operating through Orbway Underwriting Ltd, the company is building an underwriting model designed for satellite manufacturers and operators, with products structured around objective, predefined triggers.

The company said its approach is intended to support faster underwriting, clearer coverage structures, and more efficient claims execution across launch, commissioning and in-orbit operations.

Orbway enters a market where demand for space risk protection continues to grow, while many modern missions, particularly in low earth orbit, remain difficult to place under traditional insurance structures.

The company is focused on developing parametric products that complement the existing market and help expand access to insurance for new space companies.

Alessandro Santoni, founder and CEO of Orbway said: “Receiving our licence from the BMA is a significant milestone for Orbway.

“The space industry is evolving quickly, and improving access to insurance is essential to supporting its continued growth. This licence gives us the ability to offer products designed to be practical and transparent, as well as better aligned with the operational realities of modern space missions.”

The London company said Orbway’s MGA model allows it to create, price, and manage insurance products in collaboration with capacity providers and insurance partners.

This structure gives Orbway a strong basis to work with insurers and reinsurers looking to expand into specialty space risks with a focused, data-driven underwriting partner.

The founding team brings experience across satellite engineering, in-orbit operations and regulated insurance environments.

Orbway’s initial product focus is on launch and in-orbit protection, including complex operational risks such as collisions, space weather events, and revenue loss linked to operational disruption or service performance issues. Underwriting is supported by proprietary orbital data sets, telemetry inputs, and automated trigger monitoring.