From: Captive Review
EY’s Jim Bulkowski explains how macroeconomic and market pressures are driving growth, with emerging opportunities in employee benefits, ESG and cyber
The global captive insurance landscape continues to evolve against a backdrop of macroeconomic uncertainty, tightening regulations, and changing risk appetites.
According to Jim Bulkowski, Americas Captive Services co-leader at Ernst & Young (EY), the intersection of inflation, interest rate movements, and ESG-driven market constraints is reshaping how organisations design and deploy captive strategies. From traditional risk coverage to strategic risk management, captives are proving their resilience and flexibility in a complex economic environment.
Bulkowski, a speaker at this week’s European Captive Forum panel ‘What Does Data Tell Us About the Captive Insurance Market’, noted that macroeconomic forces—particularly inflation, interest rate shifts, and currency fluctuations—are directly influencing several business lines, including credit reinsurance and suretyship.
“These are lines that are particularly sensitive to exchange rate swings,” he explained.
