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Article: Captives in Carolina ; South Carolina adds 2, aims for more in 2000.(FT Reinsurance and Carnegie Insurance)(Brief Article)
- Article from:
- Business Insurance
- Article date:
- December 11, 2000
- Author:
CopyrightCOPYRIGHT 2000 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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COLUMBIA, S.C.--South Carolina has licensed its first two captive insurance companies, and state insurance officials are optimistic that they might have six captives licensed by year end.
The first two, both single-parent captives, include a redomestication from Vermont and a new formation. South Carolina regulators also have two risk retention group applications currently under review.
FT Reinsurance Co. Inc., the redomestication, was licensed in South Carolina on Nov. 22. FT, which is owned by Memphis, Tenn.-based First Tennessee Bank/First Horizon Holding Co., writes mortgage reinsurance.
Carnegie Insurance Corp., owned by the Ohio College of ...