Regulated under South Carolina Code Title 38, Chapters 87 and 90 (enacted 2000) by the Department of Insurance's Captive Insurance Division
Licenses pure, association, branch, risk retention group, special purpose, special purpose financial and sponsored (protected cell) captives
15 new captives licensed in 2025, part of steady growth since the state's law passed in 2000
Minimum capital and surplus ranges from roughly $250,000 for a pure or branch captive up to $1,000,000 for a sponsored captive (reducible to $300,000 in certain circumstances) — figures have been amended by statute more than once, most recently under a 2025-2026 bill giving the Director more discretion
A dedicated Captive Insurance Regulatory and Supervision Fund, funded by a share of captive taxes and fees, supports the state's regulatory program
A broad menu of licensable captive types, including special purpose financial captives for insurance securitisations
No collateralization requirement for reserves ceded to qualifying, authorized reinsurers
A regulator funded partly through a dedicated supervision fund rather than general appropriations
Active legislative attention — the General Assembly has revisited the captive statute in multiple recent sessions
Key considerations
Requires at least one South Carolina resident director and at least one board meeting held in-state each year, with a majority of directors physically present
Capital and surplus minimums have been amended several times since the original 2000 statute; confirm current figures with the Department of Insurance or a licensed captive manager
Almost all captive-specific information is kept confidential by the Department, with limited statutory exceptions
This page reflects publicly available regulatory information and is not legal, tax or regulatory advice
Each card shows how that provider relates to South Carolina — headquartered here, an office here, or serving the domicile.
Artex Risk Solutions is an alternative risk and insurance management business operating under the Arthur J. Gallagher & Co. group. It provides captive feasibility, formation and ongoing management; single-parent, group and cell captive solutions; actuarial and risk advisory services; reinsurance and claims-management support; capital-markets administration; and legacy and run-off solutions.
