15 February 2023Analysis

South Carolina releases latest captive numbers

South Carolina licensed 27 new captive companies in 2022, according to the latest figures released by the South Carolina Department of Insurance (SCDOI).

In a short statement sent to Captive International a spokesperson for the Department said that the new entries brought the total number of active captives in South Carolina to 208 at year’s end.

Total gross written premiums by captives in the state is now approximately $3.2 billion, the spokesperson stated.

In a speech at the South Carolina Captive Insurance Association’s twenty-first Annual Executive Educational Conference, in September 20-22, 2022, SCDOI executives said that the captive industry in South Carolina continues to thrive, with 195 active captives and numerous others in the pipeline at that time.

South Carolina licensed its 300th captive in 2016. It became a captive domicile in 1998.