Cayman Islands-based captive manager Global Captive Management Ltd. (GCM) expands into the US onshore market with regulatory approvals in Tennessee and South Carolina, with two further state applications in progress. The firm receives approval to act as a captive insurance manager in Tennessee in April 2026, where it has already taken on its first client. Approval from the South Carolina Department of Insurance Captive Insurance Division follows this week. GCM has applications pending with the Arkansas Insurance Department and the North Carolina Department of Insurance, and says an additional client is lined up in Arkansas once approval is granted. President Alanna Trundle frames the expansion as a response to evolving client expectations: "After more than 40 years' operating predominantly in the Cayman Islands, expanding into the US is a natural next step for GCM. Clients are increasingly looking for high-quality captive management across multiple domiciles, supported by strong regulatory frameworks and consistent governance. Our approvals in Tennessee and South Carolina reflect a deliberate approach to growth, and we continue to evaluate additional US states in response to client demand for onshore captive management support." GCM managed 65 captives in the Cayman Islands at the end of 2025, and during the same year stood up its own segregated portfolio company, Outcomes SPC. The four US states GCM is targeting carry different profiles. Tennessee posted its sixth consecutive year of captive growth in 2025, with the Tennessee Department of Commerce and Insurance recording 184 captives and 703 cell captives in March, and premium volume doubling year-on-year to US$4.2 billion. South Carolina and North Carolina, both long-established Southeastern domiciles, ended 2025 with 233 and 263 active captives respectively. Arkansas remains a smaller market, closing the year with 19 traditional captives and a single cell.
