Missouri captives see rapid premium growth

Missouri-domiciled captives saw gross written premiums more than double in 2023, according to the state’s Department of Commerce & Insurance (DCI). GWP reached $8.60 billion, up from $3.54bn in 2023.

The growth reflected the quality and strength of the companies in Missouri, the regulator said, as well as its own “hands-on support of Missouri captive clients”. According to the DCI, it seeks quality over quantity.

“The Missouri Captive Program continues to be driven by the success of our captives and not by the number of captives in our portfolio,” said Sam Komo, Missouri captive program manager.

“This is evident each year as this community continues to perform well above the industry average, but a 142% increase in gross written premium for a single year is a true testament to our commitment to captive growth. Even as complex issues arise, we confront them by collaborating with our partners to ensure success is protected well into the future. Our focus is to ensure captives’ strength and success; we encourage captives to come to Missouri, where captives grow strong.”

John Rehagen, director of the department’s Insurance Company Regulation Division, praised the Missouri program team’s efforts.

“I am very proud of my team's ability and expertise in understanding the complexities of the captive industry and staying true to our goal of helping businesses find great solutions,” Rehagen said.

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