South Carolina Signs 25th Captive Insurer

By Caroline McDonald

NU Online News Service, Dec. 6, 12:44 p.m. EST, Charleston, S.C.?South Carolina announced yesterday that it had licensed its 25^th captive insurer since the state became a captive domicile two years ago.

Clayton Ingram, South Carolina Department of Insurance manager of risk development, alternative risk transfer services, said the captive program commenced with two captives and last year finished up with 12 captives.

"By the end of this year you're going to see some good, strong numbers and some very strong captive organizations," he told an audience at the third annual conference of the South Carolina Captive Insurance Association, Inc. here.

The latest addition, he said, is a pure captive named Meeting Street Management, established by Pinkney Insurance Co. "This is one of our newer companies here in South Carolina," he said, which has offices and staff in Charleston. "This is exactly the kind of group that we like to see."

Reflecting the state's growth as a captive domicile, the SCCIA conference this year attracted 200 attendees, according to conference staff. Last year's conference attracted 130 and in its first year, 65 attended.

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South Carolina Signs 25th Captive Insurer

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