South Carolina domiciled captive insurer First Keystone Risk Retention Group has been placed into liquidation.
The order was signed by Judge Casey Manning in the State of South Carolina, Richland County, Court of Common Pleas, Fifth Judicial Circuit on October 21, 2014.
The petitioner, Raymond Farmer, director of the South Carolina Department Of Insurance, and his successors in office, were appointed liquidator. Michael FitzGibbons of FitzGibbons and Company, was designated special deputy liquidator.
First Keystone will no longer defend or pay for the defence of its insureds.