S.C. Signs 25th Captive
South Carolina has licensed its 25th captive insurer since the state became a captive domicile two years ago.
The captive program commenced with two captives and last year finished up with 12, noted Clayton Ingram, manager of risk development and alternative risk-transfer services at the South Carolina Department of Insurance.
"By the end of this year youre going to see some good, strong numbers and some very strong captive organizations," he told the third annual conference of the South Carolina Captive Insurance Association.
The latest addition, he said, is a pure captive named Meeting Street Management, established by Pinkney Insurance Company. "This is one of our newer companies here in South Carolina," he said, one with offices and staff in Charleston. "This is exactly the kind of group that we like to see."
Reflecting the states growth as a captive domicile, the SCCIA conference this year attracted 200 attendees, according to conference staff, compared to 130 last year and 65 in its first year.
Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, December 16, 2002. Copyright 2002 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.
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