South Carolina
- Total number of active captives
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- Number of active captives (pure)
- 105
- Number of active captives (group/association)
- 34
- Number of individual cells/cell participants
- 27
- Gross written premium for all captives
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- Total number of active captives, as of 12/31/2018
- 172
- Types of captives allowed
-
- Single parent captives
- Association captives
- Group captives
- Protected cell/segregated portfolio companies
- Risk retention groups
- Special purpose captives
- Special purpose financial captives
- Microcaptives set up using 831(b) regulations*
- Number of full-time employees in captive regulatory department
- 10
- Annual fees
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- Premium tax rate
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- Premiums to surplus
- No greater than 5:1. Usually around 3:1. Depends on the nature, scale, and complexity of the risks to be insured.
- Minimum capital (broken out by type of captive)
-
Pure captive, $250,000; industrial insured, $500,000 (stock), $500,000 in mutual surplus; association, $500,000 (stock), $750,000 in mutual surplus; sponsored, $250,000.
- Applicable Acts/Enabling Legislation
- Section 38-90 and Section 38-87 of the South Carolina Code of Laws, as amended
- Captive Administrator’s name and longevity in position and also within department
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- Time given for application process
- 30 days
- Regulator
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- Address and contact information of Regulatory Department
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- Website Address
- https://www.captives.sc.gov