9 March 2021ArticleAnalysis

A unique approach

“It is safe to say that large captives are doing very well and are extremely ‘healthy’ at the moment.” Jim Bulkowski, EY

EY brings the entire global firm’s power together across multiple disciplines when preparing or reviewing the feasibility of a new captive or the expansion of an existing one. Such an approach is unique in the industry.The same applies to other advice around the captive insurance market. This includes insurance risk management, tax and regulatory considerations, transfer pricing, actuarial, audit and other sectors across EY’s suite of services globally.Our unique service offering includes not only bringing to bear talented individuals across various disciplines, but also the ability to innovate and design unique structures—not only in traditional risk models but also in bespoke new captive products.A healthy market
It is safe to say that large captives are doing very well and are extremely ‘healthy’ at the moment.The past few years have provided clear evidence that captives are a strategic and important tool, not only in a soft insurance market environment but particularly when commercial premiums are high and the ability to obtain appropriate coverage is reduced.New and unique risks
Over the past 12 months, we have assisted clients in structuring new and traditional risk coverage programmes to be insured in their captives (totalling more than $8 billion in new captive premium), while achieving a well-rounded and diversified captive portfolio.We have also assisted in a number of innovative captive solutions that are unique to particular industries.Our objectives for the next to year are to continue to assist clients with both traditional as well as new and unique risks. Also, to take advantage of captive benefits and bolster risk-profile awareness more fully in troubling financial and climate change-related times.