Captives Director Jay Branum
W. JAY BRANUM PROFILE
Jay holds the position of Director of Captives for the South Carolina Department of Insurance, and in that capacity serves both as the Department’s chief regulator of captive insurance companies domiciled in the state, and as chief proponent of the South Carolina captive insurance program. He joined the Department in November of 2013.
A graduate of Tulane Law School and member of the Louisiana State Bar, Jay brings to this position a wealth of private sector experience gained from executive level roles in the insurance industry, with a particular focus on the Alternative Risk Transfer market.
Jay has spent the greater part of his career with the Munich Re Group (the world’s largest reinsurer), where his positions included:
- 6 years as Managing Director of a London Market underwriting company targeting the risks of multinational corporations, and concurrent service on the Board of another of the Group’s strategic London subsidiaries;
- 5 years as President of a joint venture reinsurer in Bermuda formed by American Re-Insurance Company and an internationally diverse group of 9 other prestigious insurers and reinsurers; and
- Assistant General Counsel of American Re-Insurance Company in Princeton, New Jersey (now Munich Re America).
Jay’s initial immersion in the captive world led him to Bermuda in the 1980’s, where he rose to the position of Executive Vice President of Skandia International Risk Management Ltd., at the time one of the world’s largest captive management firms, noted especially for its prestigious clientele.
He is an avid follower of international and domestic regulatory developments impacting the insurance/reinsurance industry, and was named to the 2014 captive global “Power 50” list by the London publication Captive Review.
* * * * *Since the inception of its captive program in 2000, South Carolina has become a recognized leader among onshore U.S. captive domiciles, with a regulatory approach that balances prudential firmness with business-minded pragmatism and across-the-board professionalism.