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Industry: Email Alert RSS FeedS.C. exceeds 2002 captive expectations.(Captive domicile of South Carolina finished 2002 with 34 licenses)(Brief Article)
National Underwriter Property & Casualty-Risk & Benefits Management, January, 2003 by McDonald, Caroline
The captive domicile of South Carolina recently announced that it finished 2002 with a total of 34 licenses, and an official said expansion is continuing, slowed only by a scarcity of reinsurance and fronting capacity. Clayton Ingram, South Carolina Department of Insurance manager of risk development, alternative risk transfer services, said with only two full years as a domicile, South Carolina has licensed a total of 46 captive insurers.
Mr. Ingram projected licensing at least 30 more captives in 2003. "That's taking into consideration good, quality licenses. If you look at what we've been presented and what we've ended up licensing, I think if we did 30 next year, that would be a good, conservative estimate." The department easily could license 14 in...
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