In this episode of The Edge of Risk Podcast, host Joel Appelbaum speaks with Steven Bauman, head of global programs and captive practice for AXA XL in North America. With over 35 years in the insurance industry, Steven brings a depth of expertise on how multinational organizations can structure captives to navigate regulatory complexity, diversify risk, and support global growth strategies.

The conversation covers best practices for aligning captive programs with parent company objectives, the importance of selecting the right partners, and how emerging risks—from cyber threats to climate exposures—are influencing the future of captive insurance. Steven also shares reflections on his long career and offers final advice for companies looking to launch or expand their global captive footprint.