| Captives | 21 |
| Capitalization | Industrial insured captive insurance company incorporated as a stock insurer: $500,000, Combine Capital and Surplus: Pure- $250,000, Association: $750,000
Branch: $250,000 and Special Purpose Life Reinsurance: $250,000 |
| Registration & Incorporation Expenses | $7,500 license and renewal |
| Investment Restrictions | |
| Tax Issues | Direct premium: $0-20 million, 0.380% $20-40 million, 0.285% $40-60 million, 0.190% $60 million+, 0.072%
Assumed Premium: $0-20 million, 0.214% $20-40 million, 0.143% $40-60 million, -0.048% $60 million+, -0.024%
Minimum tax $7,500 Maximum tax $200,000 |
| Applicable Acts | |
| Tax Treaties | |
| Supervisory Jurisdiction | |
| Reporting Requirements | |
| Reserve & Underwriting Requirements | |
| Local Office Requirements | John Rehagen Captive Program Manager MO Dept. of Insurance 301 West High Street Jefferson City, MO 65101 (573) 522-2563 john.rehagen@insurance.mo.gov |
| Estimated Number of Captives | Single Parent Captives=21 Group Captives=1 |
| Domicile URL | |
| Status | Active |
| News | Became domicile in 2007. Last year they hit one billion in premium which was a major milestone. This year they are going to see a numbers milestone when they hit double digits, hopefully by the end of the 3rd quarter 2010. Several other feasibility studies are underway but it's still unknown how many of these plans will ultimately take place by year end. MO may potentially license 10 new captives in 2010, compared to 3 in 2009. |