Missouri licensed four new captives in 2023, while seeing three surrender their licence, taking the total number of captives in the domicile to 55 at year end.
There were 54 active captives at the end of 2022.
Of the four new captives licensed in Missouri last year, three were single parent captives, and one was a special purpose life reinsurance captive (SPLRC).
Of the 55 year-end total, 44 are single parent captives, one is a cell company, one is an individual cell, one is an agency captive, one is a group or association captive, two are branch captives, and six are SPLRCs.
Missouri’s total gross written premium for 2022 was $3.5bn and its assets under management was $14.1bn. The 2023 figures will be available later this year.