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Captive insurer count up in South Carolina, Arizona

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South Carolina and Arizona reported significant growth in captive insurer formations in 2014.

Last year, South Carolina licensed 20 captives, up from just three in 2013. The newest formations brought South Carolina's total captive count to 158, with that number expected to rise soon with several captive applications pending, Columbia, South Carolina-based captives director Jay Branum said.

“It was a great year and exceeded our expectations” said Mr. Branum.

In Arizona, 13 captives were licensed in 2014, up from nine in 2013, according to the state's Captive Insurance Division. The newest formations brought Arizona's captive tally to 114 at the end of 2014.