South Carolina State of the Domicile€¦ · Presentation Agenda • Licensing & Marketing Updates...
Transcript of South Carolina State of the Domicile€¦ · Presentation Agenda • Licensing & Marketing Updates...
16th Annual Executive Educational Conference
South Carolina
State of the Domicile
W. Jay Branum
Captive Director
South Carolina Department of Insurance
16th Annual Executive Educational Conference
Presentation Agenda
• Licensing & Marketing Updates
• 2015 Priorities
• Looking Ahead
• Regulatory Values & Philosophy
• South Carolina Captive Scene Today
• Questions & Answers
16th Annual Executive Educational Conference
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
16th Annual Executive Educational Conference
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!
16th Annual Executive Educational Conference
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)
16th Annual Executive Educational Conference
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
16th Annual Executive Educational Conference
Project & Reinforce Our Values
• Across-the-board professionalism
• Consistency of execution
• Quality of the portfolio
• Facilitating the creation and build-up of Owner Value
16th Annual Executive Educational Conference
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
16th Annual Executive Educational Conference
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!
16th Annual Executive Educational Conference
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
16th Annual Executive Educational Conference
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
16th Annual Executive Educational Conference
Eye on the Future!!