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South Carolina Department of Insurance

South Carolina is one of the premier onshore captive domiciles. The South Carolina Department of Insurance (SCDOI) has a dedicated captive division of extremely talented professionals focused solely on captives. The mission of the South Carolina captive division is to promote quality captives by applying a proportional approach to regulation while appreciating the strategic objectives for which captives are created.

In the 22 years since the captive law was signed into effect, South Carolina has gained significant experience with captives of all kinds and sizes, representing a diverse mix of industries and exposures. Parent organizations range from small to midsized privately held firms, to some of the world's largest and most successful multinationals. The risk management and risk financing programs of these companies are among the most sophisticated and successful anywhere and make full use of the versatility and flexibility their South Carolina captives offer.

South Carolina has expertise in all types of alternative risk programs. Our team is professional, responsive, and business-minded, with a focus on execution and results. These are just a few of the reasons that South Carolina is set apart as world-class in the captive space. With South Carolina as your captive domicile, you can be assured of an impeccable reputation, exceptional service, plus unmatched understanding of the business of risk.

Find out more by visiting our website: SC Captives.

Company Contacts

Joe McDonald

Director of Captives

(843) 577–3413

Email

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Mailing Address:
145 King St., Ste. 228
Charleston, SC 29401

Virtual Contact:
Website: South Carolina Department of Insurance Captive Division

Captive Domicile Summary

Since passing its captive insurance law in 2000, South Carolina has enjoyed steady growth as a captive domicile.

At the end of 2021, South Carolina had 182 active captives.

Captive managers and others say a key driver fueling that growth has been a highly talented regulatory staff.

Regulators in South Carolina are thoughtful, innovative, and committed to the industry, "and are always willing to reach out, answer questions, and work towards informed solutions," said Mike Coulter, deputy managing director in the Charleston office of Aon Captive & Insurance Management, one of the world's leading captive managers.

Regulators say accessibility is a key part of their job. "We want to be accessible and easy to work with because our captive owners have made a major investment in our state. We want them to maximize the benefit of their captive company within the bounds of reasonable regulation. If it makes good business sense, we want it in South Carolina," said Joe McDonald, director of captives in South Carolina.