Missouri names captive manager to reinvigorate state captive programme

The Missouri Department of Commerce & Insurance (DCI) has hired a new captive manager to develop and implement strategies to enhance its captive insurance offering.

Martin “Sam” Komo took up the position on July 2. He leads outreach efforts to educate industry stakeholders on the benefits of captive insurance and the unique advantages available to them under the Missouri captive law.

Komo has previously held leadership and management roles at the Missouri Department of Economic Development and the Missouri Department of Labor and Industrial Relations. He is also a former Missouri state representative and was a ranking member on the Job Creation and Economic Development Committee.

He joins the DCI insurance company regulation division, which monitors and analyses the financial condition of insurance companies licensed in Missouri to ensure they can pay claims. The division also certifies and collects premium taxes due the state.

Chlora Lindley-Myers, director of the Department of Commerce & Insurance, said Komo is the ideal candidate to reinvigorate Missouri’s captive programme and maximise its benefits for Missouri businesses. "While in Tennessee, I oversaw the rebirth of their captive programme and it takes someone like Sam to do it,” she said.

John Rehagen, director of the insurance company regulation division, said: “Sam’s technical expertise coupled with his strong track record of community and industry outreach make him the ideal fit.”