South Carolina’s Branum steps down
Jay Branum, director of captives at the South Carolina Department of Insurance, has resigned. He has been with the department since 2013.
Branum joined the SC Department of Insurance following a career of more than 30 years in the industry. He served as vice president of Skandia International Risk Management, then one of the world’s largest captive management firms, before a 20-year career with Munich Re. In September 2015, after his move to the regulator, he was named Captive Person of the Year by the South Carolina Captive Insurance Association at its annual conference.
As head of captives at the department, Branum was responsible for regulating the sector and promoting the South Carolina captive insurance program. During his tenure, he oversaw significant growth in the number of captives registered in the state, from 118 in 2013 to 175 in 2020.
There was no immediate word on plans for a successor.