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South Carolina Department of Insurance

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South Carolina has enjoyed steady growth as a captive domicile since passing its captive insurance law in 2000. In 2025, South Carolina licensed 15 new captives and notched approximately $3.1 billion in written premiums. This growth is due to a number of factors, including a dedicated regulatory staff and a strong base of knowledgeable captive industry professionals and service providers.

South Carolina's Captives Division is its own distinct division within the South Carolina Department of Insurance. The Captives Division's sole focus is the captives that are domiciled in South Carolina. Our captive team is thoughtful, innovative, committed to the industry, responsive, and eager to work toward informed solutions. We offer a consistent pragmatic regulatory environment grounded in reason and fairness. We fully understand the strategic value captives provide, and our regulatory philosophy reflects a thoughtful and deliberate approach.

In a recent interview, Director of Captives Andy Noga commented on South Carolina's unique captive environment:

Recently we've seen an uptick in applications and new companies applying to South Carolina, and I think that is a function of the fact that South Carolina has been in the captives market since 2000. It's very experienced. The book of business in South Carolina is very mixed and diverse, and the staff and the Department also have a ton of experience handling a broad variety of captives. We also have a really strong captive management group and strong service providers in South Carolina that know the Department well and the Department knows them well. So, I think all of those factors together are providing for a real healthy environment in South Carolina.

Mr. Noga also noted what sets South Carolina apart from other domiciles:

South Carolina really isn't in competition for scale. We are more about substance. What we're focused on really is making sure that the captives that we license in South Carolina are comfortable with us as regulators and that we're comfortable with the owners and managers and the business plans of those captives because we intend to be partners for the long haul.

Find out more by visiting our website: SC Captives.

Company Contacts

Andrew Noga

Captives Director, Captive Insurance

(843) 577–3414

Email

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Ann Cunniffe

License Coordinator, Captive Insurance

(843) 577–3415

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

South Carolina's Captives Division has 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, making full use of the versatility and flexibility their South Carolina captives offer.

South Carolina licenses a variety of captive insurance companies including pure captives, risk retention groups, special purpose captives, sponsored captives and cells, association captives, branch captives, and special purpose financial captives. From year to year, pure or single-parent captives typically comprise the biggest percentage of South Carolina's captives. Following closely behind the number of active pure captives are special purpose captives and risk retention groups.

With assistance from the South Carolina Captive Insurance Association, South Carolina legislators and the South Carolina Department of Insurance have taken action to adapt and improve South Carolina's captive laws over the years. These efforts keep South Carolina in a position to respond in a fitting manner to requests made by captive owners.

The South Carolina Captive Insurance Association (SCCIA) holds its Executive Educational Conference annually in Charleston in September. The conference provides an opportunity to learn about captive regulatory updates, tax matters, case studies, and important industry issues and trends. Session topics include captive regulatory updates, tax issues, case studies, and important industry issues and trends.

For more information about this and other SCCIA events, contact CCIA at (803) 779–6677.

Captive Domicile Statistics

Total Captive Count* South Carolina
Year	Captives
2025	235
2024	229
2023	221
2022	208
2021	182
2020	175
*Includes cell captives.

South Carolina Active Captives by Type*
Type	Count
Pure	71
Special Purpose	51
Cells	49
Risk Retention Group	44
Sponsored	14
Special Purpose Financial	4
Branch & Association	2
*Data as of February 2026.

Applicable Captive Insurance Laws

South Carolina's primary captive statutes are (1) SC Code Title 38 Chapter 90 Captive Insurance Companies, which describes the types of captives authorized to be formed and the information necessary for licensing captives, and (2) SC Code Title 38 Chapter 87 Regulation and Taxation of Risk Retention Groups and Purchasing Groups, which details the information necessary for the licensing of risk retention groups.

Regulations 69–60 and 69–70 provide additional details concerning captive annual reporting requirements, annual audits by independent certified public accountants, and annual actuarial opinions.