The South Carolina Department of Insurance (SCDOI) has appointed Joe McDonald as director of the captive insurance division, effective 2 February.
Based in the department’s Charleston office, McDonald previously worked at the SCDOI as a licensing coordinator in the captive insurance division between May 2017 and July 2020.
He most recently held the position of captive and risk finance product manager at the International Risk Management Institute.
Commenting on the appointment, SCDOI director Ray Farmer says: “It is my pleasure to welcome Joe McDonald back to the SCDOI as our captive director.
“South Carolina has long been considered one of the top mature domiciles in the industry with a thriving captive marketplace. I know Joe will be an asset to our team and lead the captive industry in our state to even more success.”
McDonald adds: “I look forward to continuing the legacy of excellence and service that sets apart South Carolina as a captive domicile. This legacy, which started over two decades ago, has been nurtured by the steady, fair and consistent stance to regulation taken by Ray.
“Working with the exemplary captive division that is already in place at the SCDOI, I am excited to help bring a professional, responsive and positive energy that will further advance South Carolina as a leading captive domicile.”
