Download - South Carolina State of the Domicile€¦ · Presentation Agenda • Licensing & Marketing Updates • 2015 Priorities • Looking Ahead • Regulatory Values & Philosophy • South

16th Annual Executive Educational Conference

South Carolina

State of the Domicile

W. Jay Branum

Captive Director

South Carolina Department of Insurance


Presentation Agenda

• Licensing & Marketing Updates

• 2015 Priorities

• Looking Ahead

• Regulatory Values & Philosophy

• South Carolina Captive Scene Today

• Questions & Answers


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


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!


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)


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


Project & Reinforce Our Values

• Across-the-board professionalism

• Consistency of execution

• Quality of the portfolio

• Facilitating the creation and build-up of Owner Value


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


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!


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


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


Eye on the Future!!