Jay Branum of the South Carolina Department of Insurance has revealed the state has “very positive and exciting developments” for its captive insurance industry.
Branum, director of captives for the department of insurance, explained: "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."
Speaking about the leading sectors for captives in South Carolina, Branum explained that there is “no disproportionate concentration in one or two industries that would unbalance the overall portfolio”.
He said: "We see everything from Fortune 100 energy companies and manufacturers to large medical practice and hospital groups, to property management and development companies, to contractors, retailers, big transportation companies, to major financial institutions and more."
To read the full interview with Branum, download the latest issue of Captive Insurance Times here.