South Carolina State of the Domicile€¦ · Presentation Agenda • Licensing & Marketing Updates...
12
16 th Annual Executive Educational Conference South Carolina State of the Domicile W. Jay Branum Captive Director South Carolina Department of Insurance
Transcript of South Carolina State of the Domicile€¦ · Presentation Agenda • Licensing & Marketing Updates...
16th Annual Executive Educational Conference
South Carolina
State of the Domicile
W. Jay Branum
Captive Director
South Carolina Department of Insurance
16th Annual Executive Educational Conference
Presentation Agenda
• Licensing & Marketing Updates
• 2015 Priorities
• Looking Ahead
• Regulatory Values & Philosophy
• South Carolina Captive Scene Today
• Questions & Answers
16th Annual Executive Educational Conference
Licensing & Marketing Activity
• Licensing
– 18 new licenses since last year’s conference
– 161 companies currently active
– 18 – 20 new prospects in development
– 4 new managers approved
– 6 sponsored captives and cells since S.909; 9 more pending
• Marketing
– 8 conferences and symposia
– Digital and print media advertising, interviews, and articles
– Recognizing 28 captive with 10-year anniversaries in 2014 & 2015
16th Annual Executive Educational Conference
Licensing Activity
South Carolina Advantage
� 16th year as a captive domicile
� Business focused
� 13 dedicated captive team members
� Charming Charleston: A hub of captive expertise!
16th Annual Executive Educational Conference
Licensing Activity
Average GWP/captive = $8M in 2014
Total GWP of top 10 = $903M in 2014
Top 20 by C&S = $1.32B; $66M average (excl. SPFCs)
16th Annual Executive Educational Conference
Priorities for 2015
• Sustain the momentum from 2014!
• Expand outreach activities
• Continue to fine tune processes and procedures
• With SCCIA, engage more with the Legislature
• More proactive management of troubled companies
• More emphasis on staff development
16th Annual Executive Educational Conference
Project & Reinforce Our Values
• Across-the-board professionalism
• Consistency of execution
• Quality of the portfolio
• Facilitating the creation and build-up of Owner Value
16th Annual Executive Educational Conference
Regulatory Vision & Philosophy
• Best-in-Class over the long term
• Prudence, Professionalism, and Pragmatism
• Across-the-board excellence => emphasis on execution
• Beyond business friendly – Business Savvy
• Collaborative approach to industry, owners & stakeholders
16th Annual Executive Educational Conference
The South Carolina Captive Scene Today
• Charleston – a vibrant hub
• Focus on Owner Choice and Value
• Dedicated Captive Division of smart, experienced
professionals
• Highly respected as prudent & responsible solvency regulators
• World Class Captive Know-How
A Domicile on the Move!
16th Annual Executive Educational Conference
The State of the Domicile
• More energy and dynamism than ever
• More resources within the SC Captive Division than ever
• More resources in the SC Captive Community than ever
• More commitment and investment than ever
• More engagement with wider captive world than ever
• Brighter prospects than ever
16th Annual Executive Educational Conference
Questions – And Thank You!
Jay Branum, Captive Director
Telephone: +1 803 737 6109. E-mail: [email protected]
Visit our website at www.captives.sc.gov
16th Annual Executive Educational Conference
Eye on the Future!!
