The South Carolina Insurance Department licensed 30 new captives in 2015, according to JLT Towner.
The 2015 results puts the total captives licensed in South Carolina at 295 since 2000.
The 30 captives licensed in 2015 included 12 pure captives, three risk retention groups (RRGs), three special purpose captives (SPCs), three sponsored captives and nine incorporated cells.
Megan Ogden, head of JLT Towner Insurance Management’s South Carolina office, commented: “The state of the captive insurance industry in South Carolina has never been stronger, as evidenced by this growth.”
“Because regulators understand captive insurance and legislators recognise the importance of the industry to the state, I expect this growth to continue in 2016.”
