Risk Partners captive division continues to grow

February 2024 will mark six years since the Captive Division at Risk Partners was founded as part of Holman Enterprises.

The team has grown from one to seventeen with staff in four states with a concentration in Charleston, South Carolina. Janice DuBose, Angela Hillier, Gina Haber and Derek Scott joined the team in 2023.

Risk Partners is managing captives in South Carolina, Tennessee, Hawaii, Vermont, Georgia, Alabama, New Jersey, Arizona, New York, Oklahoma and North Carolina as well as Cayman and the British Virgin Islands through a partnership with USA Risk Group. The current pipeline could see Utah and Barbados added to the active domicile list early in 2024, the company said.

There were 22 new clients added in 2023 (including several starting effective Jan 1, 2024). Of these, 17 were cells in Tennessee, 2 were manager change RRG’s (one in AL and one in SC), one was a single parent in Hawaii, one was a new sponsored captive in SC and one was a single parent manager change in GA.

Property, Commercial Auto and Medical Stop Loss were the three largest exposures for these companies, with Workers Comp being significant as well for the first time in several years.

These new clients brought the total clients under management to 82 between single parents, risk retention groups, agency captives and cells.

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