Geopolitical uncertainty puts captives in the spotlight  

• More captives taking on Ukraine war risks  
• Captives increasingly acting as risk incubators 
• Geopolitical volatility reshaping captive portfolios 

The world is becoming increasingly uncertain, with conflicts, trade tensions, tariffs and disruption to critical trade routes creating new challenges for corporations doing business across borders. 

Russia’s invasion of Ukraine has entered its fifth year with little sign that the war is nearing an end, while volatility and tensions remain heightened in the Middle East.