The Missouri Captive Insurance industry increased its gross written premium by 142% in 2023, the Missouri Department of Commerce and Insurance (DCI) reported.
The amount of written premiums in 2022 were $3,543,681,320 vs. $8,600,492,937 in 2023. This growth is attributed to the quality and strength of the companies in Missouri, as well as DCI’s Captive Insurance Program’s support of Missouri captive clients.
“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.”
John Rehagen, Director of the department’s Insurance Company Regulation Division, said the success of Missouri’s program is due to the experience of the Missouri Captive Program team.
“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.
Source: Missouri DCI
Topics Trends Pricing Trends Missouri
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