South Carolina Signs 25th Captive Insurer
By Caroline McDonald
NU Online News Service, Dec. 6, 12:44 p.m. EST, Charleston, S.C.?South Carolina announced yesterday that it had licensed its 25th captive insurer since the state became a captive domicile two years ago.
Clayton Ingram, South Carolina Department of Insurance manager of risk development, alternative risk transfer services, said the captive program commenced with two captives and last year finished up with 12 captives.
"By the end of this year you're going to see some good, strong numbers and some very strong captive organizations," he told an audience at the third annual conference of the South Carolina Captive Insurance Association, Inc. here.
The latest addition, he said, is a pure captive named Meeting Street Management, established by Pinkney Insurance Co. "This is one of our newer companies here in South Carolina," he said, which has offices and staff in Charleston. "This is exactly the kind of group that we like to see."
Reflecting the state's growth as a captive domicile, the SCCIA conference this year attracted 200 attendees, according to conference staff. Last year's conference attracted 130 and in its first year, 65 attended.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
