GCM expands into US with Tennessee and South Carolina domicile approvals

Long‑standing captive manager Global Captive Management (GCM) has secured regulatory approval to operate in Tennessee and South Carolina, marking its formal entry into the US onshore captive management market following more than 40 years of operations primarily in the Cayman Islands.

GCM confirmed to Captive Review that it received regulatory approval in Tennessee in April 2026 and has already onboarded its first client in the state. The firm also received approval from the South Carolina Department of Insurance Captive Insurance Division this week to act as an insurance manager.

The company is currently awaiting approval from the Arkansas Insurance Department and the North Carolina Department of Insurance, with an additional client expected to be onboarded in Arkansas once regulatory clearance is secured.

Commenting on the expansion, Alanna Trundle, president of Global Captive Management, said: “After more than 40 years’ operating predominantly in the Cayman Islands, expanding into the US is a natural next step for GCM. Clients are increasingly looking for high‑quality captive management across multiple domiciles, supported by strong regulatory frameworks and consistent governance. Our approvals in Tennessee and South Carolina reflect a deliberate approach to growth, and we continue to evaluate additional US states in response to client demand for onshore captive management support.”

GCM has successfully scaled its Cayman operations in recent years and, as of the end of 2025, managed 65 insurance companies in the domicile. The manager also launched its own segregated portfolio company, Outcomes SPC during 2025.

Tennessee is a well‑established US captive domicile with a significant concentration of both traditional and cell captives. According to a March 2026 regulatory update, the state was home to 184 captives and 703 cell captives.

North Carolina and South Carolina also rank among leading US captive domiciles, reporting 263 and 233 captives respectively as of the end of 2025.

Arkansas, a growing captive domicile, reported 19 traditional captives and one cell captive at the end of 2025.

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