Charleston
17 November 2017
Reporter: Becky Butcher

‘Exciting developments’ in South Carolina’s captive industry


Jay Branum of the South Carolina Department of Insurance has revealed the state has “very positive and exciting developments” for its captive insurance industry.

Branum, director of captives for the department of insurance, explained: "We hope and expect that those initiatives will bear fruit for us in H1 2018, but the time is not ripe for me to get into any details, so stay tuned."

Speaking about the leading sectors for captives in South Carolina, Branum explained that there is “no disproportionate concentration in one or two industries that would unbalance the overall portfolio”.

He said: "We see everything from Fortune 100 energy companies and manufacturers to large medical practice and hospital groups, to property management and development companies, to contractors, retailers, big transportation companies, to major financial institutions and more."

To read the full interview with Branum, download the latest issue of Captive Insurance Times here.

More news
The latest news from Captive Insurance Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Cayman captive industry generated $100m in 2016
14 December 2017 | Grand Cayman | Reporter: Ned Holmes
The Cayman Islands captive insurance industry generated $100 million for the island’s economy in 2016, according to a recent economic impact survey.
BDA board gains new chair
14 December 2017 | Hamilton | Reporter: Ned Holmes
Paul Scope has been elected as the new chair of the Bermuda Business Development Agency (BDA) and Shelby Weldon has been appointed to the board of directors.
Ameriprise captive rated ‘excellent’, says A.M. Best
14 December 2017 | New Jersey | Reporter: Ned Holmes
Ameriprise Captive Insurance Company (ACIC) has received a financial strength rating of “A (Excellent)” and a long-term issuer credit rating of “a+” from A.M. Best.
PRIIA to help grow Puerto Rico as a captive domicile
13 December 2017 | San Juan | Reporter: Ned Holmes
The Puerto Rico International Insurance Association (PRIIA) will play an expanded role in helping to grow the country into a leading captive insurance domicile, according to PRIIA president Hugo Cordova.
Brit launches new Bermuda-based SPI
13 December 2017 | Bermuda | Reporter: Ned Holmes
Insurance and reinsurance group Brit has launched a new Bermuda-domiciled collateralised reinsurance platform, Sussex Capital.
Two funds complete trade on ILSBlockchain
12 December 2017 | St Peter Port | Reporter: Ned Holmes
Two funds have completed what is believed to be the first secondary market securities trade on notes digitised on the ILSBlockchain, a private blockchain set up by Guernsey incorporated cell company Solidum Re.
NiSource captive rated ‘excellent’ by A.M. Best
11 December 2017 | Oldwick | Reporter: Ned Holmes
A.M. Best has given the financial strength rating of “A- (Excellent)” and the long-term issuer credit rating of “a-” to NiSource Insurance Corporation (NICI).