South Carolina Department of Insurance names new director of captives

The South Carolina Department of Insurance has named William “Jay” Branum to the newly created position of director of captives.

Mr. Branum most recently served as managing director of Munich-American Risk Partners in London. An attorney, he has held various other senior positions in the insurance industry in the U.S. and Bermuda.

“A longtime proponent of properly structured and utilized captives, Jay’s knowledge and expertise will be an asset to the department,” Ray Farmer, director of the South Carolina Department of Insurance, said in a statement. Mr. Farmer added that he expects Mr. Branum to “be a convincing advocate for our progressive, business-friendly approach.”