By Ryan Hewlett

June 2 - (The Insurer) - Hive Underwriters has continued its expansion into a multiline specialty MGA with the launch of a space insurance offering led by Jack Kenneally, the company has confirmed to The Insurer.

Kenneally will join the London-headquartered Lloyd’s coverholder after completing his contractual obligations with Brown & Brown’s space-focused MGA Occam Underwriting, where he was involved in all aspects of underwriting the space book.

At Hive, Kenneally will be tasked with leading its expansion into the space insurance market.

Hive, formally Hive Aero before a 2023 rebrand, was launched in late 2017 by industry veteran Bruce Carman with a focus on aviation hull war and has since developed an expansive aviation insurance book including aviation all risks, general aviation and excess aviation war liabilities.

In December 2024, Hive appointed former Allianz executive Henning Haagen as chief development officer and a member of its executive board in a bid to develop its specialty underwriting portfolio.

In a statement to The Insurer, Haagen said space is a “natural addition” to diversify Hive's portfolio into other specialty classes.

“It's a niche line, where expert underwriting knowledge, strong client and distribution network and technical knowledge is needed, exactly what Hive stands for. After some difficult years in the space insurance sector, capacity is now at a level where rates allow a sustainable underwriting performance,” he said.

Hive’s underwriting approach will be to produce a balanced space portfolio, Haagen said, adding that Kenneally had historically “outperformed the market and produced top quartile results with a nimble and conservative portfolio”.