John Rehagen, Department of Insurance, Financial Institutions and Professional Registration captive program manager, told National Underwriter that the domicile has licensed six captives since its captive legislation was passed in August 2007. The updated legislation in 2009 "got people interested again." In 2009, he said the three captives licensed consisted of an association, a pure and a special purpose captive. The smallest captive formed, he said, was a trade association, the others were a large life insurer and a large corporation.

"The new state law has worked as designed: to encourage more captive formations in Missouri," John M. Huff, director of the DIFP said in a statement. "$1 billion in premium volume shows we have a well established captive program in Missouri and that it's a priority for our department."

A captive insurance company is formed to insure some of the risks of its owner and subsidiaries, similar to self-insurance.

Mr. Rehagen, said he will attend the Captive Insurance Companies Association International Conference in Orlando, Fla., March 7-9, where he will represent Missouri in a conference breakout session with domicile regulators, March 8 at 4:30 p.m.

Companies interested in bringing captive operations to Missouri can contact Mr. Rehagen at 573-522-2563, or online.