Joe McDonald began his position as director of captives at the South Carolina Department of Insurance (the Department) on February 2, 2022. Prior to coming on to lead the captive division in South Carolina, McDonald was the captive and risk product manager at the International Risk Management Institute, Inc. (IRMI). McDonald had previously served as licensing coordinator for the Department of Insurance from 2008 to 2020.
McDonald rejoins the Department during an exciting time for the captive and RRG industries, with strong activity across a range of domiciles and business sectors. South Carolina has seen strong growth in new RRGs over the past two years and is now the second largest RRG domicile after Vermont.
The Risk Retention Reporter spoke with McDonald on what he brings to the position, what South Carolina is looking for in RRGs, and his goals for the first two years as head of South Carolina’s Captive Division.
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