South Carolina Celebrates Licensing 200 Captive Insurers Since 2000

The South Carolina Department of Insurance is celebrating issuing its the 200th captive insurance company license.

State Insurance Director Scott H. Richardson presented the license to Hardin Construction Co. of Atlanta, Georgia at a special dinner ceremony in Charleston sponsored by insurance brokers, captive management consultants and law firms.

“This represents the hard work and dedication of the captive insurance community in South Carolina. We are proud of our captive program and look forward to seeing it continue to flourish,” Richardson said. More than 100 invited guests attended the dinner, according to officials.

The state began licensing captive insurance companies in 2000 and has been one of the fastest growing domiciles for captives in the nation.