Tennessee Captive Insurance Market Expands, Leadership Promotions Announced

The Tennessee Department of Commerce and Insurance (TDCI) reported continued growth in its captive insurance sector, with 12 new pure captives and 95 new cells licensed in 2024. As of 2025, Tennessee has 192 total captives and 694 active cells, reflecting sustained momentum since the state modernized its statutes in 2011.

Commissioner Carter Lawrence highlighted Tennessee's appeal to businesses seeking stability amid global uncertainty, citing the state's responsive regulatory team and support from Governor Bill Lee and the general assembly. He also announced the promotions of Bill Huddleston to deputy commissioner and Scott McAnally to assistant commissioner.

Captive Insurance Director Mark Wiedeman noted rising inquiries tied to emerging risks and emphasized Tennessee's openness to innovative captive structures, particularly cell formations with lower capital requirements. The department also welcomed Jarail Butler as a Captive Analyst. Mr. Butler brings more than a decade of accounting, operations, and customer service leadership experience, having held roles with Memphis Light, Gas, and Water; FedEx Employees Credit Association; the Internal Revenue Service; and most recently, the Tennessee Department of Transportation. He holds a bachelor of science in accounting and business management from Strayer University.

TDCI will be on the fall conference circuit, including the Tennessee Captive Insurance Association (TCIA) Annual Conference in Nashville on October 13–15, where attendees can meet the team and register to win a Gibson guitar.