A leader among US domiciles, South Carolina offers captive owners the full package: a statute that is broad and up-to-date; business-savvy regulators who are accessible, reasonable, and highly professional; and world-class captive know-how in a service provider community that is second to none.
[Last updated: 18/07/16]
W. Jay Branum, Captive Director; Jeffrey K. Kehler, Captive Program Administrator; Joseph McDonald, Associate Application Coordinator – Charleston, SC office.
Address of Regulator:
1201 Main Street, Ste. 1000, Columbia, SC 29201 USA
Jay Branum, +1 803 737 6109; Jeff Kehler, +1 803 737 6118; Joe McDonald, +1 843 577 3415.5.
email@example.com; firstname.lastname@example.org; email@example.com 6. Website: www.captives.sc.gov
Name of Captive Legislation
Captive Insurance Companies
Year Legislation Passed
Do you allow cell captives?
Total Number of Licensed Captives
167 active companies
Number or RRGs or group captives
37 active companies
Number of single parent captives
130 active companies
Number of cell captives
Number of licenses granted in calendar year 2015
Average length of time to process a new captive
30 days for a single parent, group or cell company.
Captive tax rates
Minimum premium tax is $5000, maximum is $100,000. See chart below for applicable percentages.
0.3% up to $100K cap
Capped at $100K
Capped at $100K
0.025% up to $100K cap
Minimum capitalisation rates
Association Captive: $750,000
Branch Captive: $250,000
Group Captive: $500,000
Pure Captive: $250,000
Special Purpose Captive: at the discretion of the director of insurance
Special Purpose Financial Captive: $250,000
Sponsored Captive: $1,000,000, reducible to $300,000 under certain circumstances
Reciprocal Captive: $1,000,000
Risk Retention Group: $500,000
First year: $200 application fee; $300 license fee; $4,000 review fee
Subsequent years: $500 licensing fee. A review fee of $2500 may apply to special purpose financial captives.
Service Sector (healthcare, legal, business, hotel, etc.): 32%
Finance (real estate, insurance, financial services): 26%
Top 5 uses
Professional liability – medical, hospital, nursing home;
Life insurance reserve securitization;
Other – property deductibles, medical stop loss, terrorism, employee benefits, WC deductibles, windstorm, and various ERC coverages.
Total value of assets under management
List of managers approved in SC
Active Captive Management, LLC
Advantage Insurance Management (USA), LLC
AIG Insurance Management Services, Inc.
Aon Insurance Managers (USA), Inc.
Artex Risk Solutions, Inc.
Atlas Insurance Management
Companion Captive Management
Energy Captive Management
FSI Solutions, Inc.
GPW and Associates, Inc.
Independent Management Limited
Intuitive Captive Solutions, LLC
JLT Towner Group US
Marsh Management Services
MIJS Management Services
R&Q Captive Management, LLC
Risk Services, LLC
River Oak Risk
Somers Risk Consulting, Inc.
Strategic Risk Solutions (SC), LLC
Stern Risk Partners, LLC
Total captive Solutions, LLC
USA Risk Group, Inc.
W.A. Taft and Company, LLC