Steps to Forming a Captive Insurance in Missouri
- E-mail Captive Program Manager John Rehagen or call him at 573-522-2563 to discuss your proposed captive and to obtain additional information from the Department of Insurance, Financial Institutions and Professional Registration (DIFP).
- Prepare documents required for organization or incorporation in Missouri. Advice of a local attorney may be necessary.
- Prepare documents necessary to complete the captive application.
- Submit two copies of the information required under steps 2 and 3 to the Missouri DIFP: Attention Captive Program Manager. Include the $7,500 licensing fee. (This is fully deductible from future premium taxes).
- Petition the director to issue a Certificate of General Good. The factors that will be reviewed prior to issuing the certificate are detailed under section 379.1310.4.
- Present the Certificate of General Good and organizational documents noted in step 2 to the Missouri Secretary of State’s Office along with the fee required to incorporate or organize the captive.
- Place minimum capital in the captive and provide evidence of deposit to the DIFP.
- Receive notification from the contracted actuarial review firm as to the cost and timing of the issuance of its actuarial feasibility opinion. The maximum review fee is $4,000.
- Upon issuance of the actuarial feasibility opinion, the applicant will be invoiced the quoted cost and must pay the fee directly to the contracted actuarial firm.
- DIFP will notify the applicant when the license has been issued, usually in about 30 days from completed application receipt.
- E-mail Captive Program Manager John Rehagen or call him at 573-522-2563 to discuss your proposed special purpose life reinsurance captive and to obtain additional information from DIFP.
- Prepare documents required for organization or incorporation in Missouri. Advice of a local attorney may be necessary.
- Prepare documents necessary to complete the captive application.
- Submit two copies of the information required under steps 2 and 3 to the Missouri DIFP: Attention Captive Program Manager. Include the $10,000 application fee. (This is fully deductible from future premium taxes).
- Receive notification from the contracted actuarial review firm as to the cost and timing of the issuance of its actuarial feasibility opinion. The maximum review fee is $8,000.
- Upon department direction, submit $7,500 licensing fee for license issuance. (This is fully deductible from future premium taxes due). Mandated decision time is 60 days from completed application receipt.
- If your captive will be using a management firm, that firm must be approved by DIFP. The firm can contact the Captive Program manager for details.
- Your CPA firm must be approved prior to conducting your audit.
- The actuary you decide to use to render an opinion on reserves must be approved prior to issuing the opinion on reserves.
- For redomestication information, please contact the Captive Program manager.
Steps to forming a special purpose life reinsurance captive
Other requirements
Links to all forms can be found at insurance.mo.gov/captive.