The South Carolina Department of Insurance has licensed a total of 15 new captives in 2017.
The 15 captives included two risk retention groups, three pure captives, nine special purpose captives and one incorporated cell.
The state also saw nine companies deleted from its portfolio, eight voluntary dissolutions and one merger.
South Carolina now has a total of 169 active captives.
In November, Jay Branum, ?director of captives at the South Carolina Department of Insurance, said the state has some “very positive and exciting developments” for its captive insurance industry.
Branum added: "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."
