Missouri Reports 2023 Captive Growth

Missouri licensed 4 new captives in 2023, boosting its captive count to 55.

Of those 55 captives, 45 were pure captives, which includes agency captives; 6 were special-purpose life reinsurance captives; 2 were branch captives; 1 was an association captive; and 1 was a sponsored captive.

But the most significant story, state captive regulators say, is that they are expecting, when numbers are finalized, a big increase in captive premium volume for 2023.

"The real story is that when captive premium volume is reported, it could be close to double of the prior year," said Sam Komo, Missouri's captive program manager in Jefferson City.

Missouri lawmakers passed the state's captive law in 2007. Legislation was passed 2 years later to simplify redomesticating to the domicile.