The Missouri Department of Insurance licensed four captives in December 2016, plus another one so far this year.
All five licensed were pure captives, with four from Missouri-based parents and the other from an Iowa parent company.
At present Missouri has 58 licensed captives licensed in total and, according to John Talley, captive programme manager of Missouri Department of Insurance, the domicile “may receiving four additional applications this month”.
As of 2015, Missouri’s captive industry reached $22.5 billion in assets and $3.7 billion in written premium.
In a recent interview, Talley said: “We have seen captive growth in the financial, transportation, construction, and service industries, both in Missouri and in surrounding states, and [in 2016, we saw], increased interest in captive formation from mid-size commercial and agribusiness entities.”
This year Missouri will celebrate 10 years of operation in the captive insurance industry space.
