Reasons and Benefits of Forming a Captive in Missouri
If you are located in or near Missouri, you can keep your captive close to home to minimize or eliminate travel expenses and maximize control and management of the captive. We border eight states, which makes same-day travel possible from the north, south, east or west on our system of interstate and US highways.
If you are not located in or around Missouri, there are daily non-stop flights between our two major metropolitan areas and most cities across the country. In most cases, there’s no need for connecting flights and all-day travel for a simple meeting with our staff or with your captive company management.
Our captive laws offer several options for businesses and are specifically designed to minimize the need for mandated regulation and oversight.
Simplified application review process with your known review costs stated up front. Further, the initial licensing fee and subsequent annual renewal fees can then be fully deducted from future premium taxes. The actuarial review fee paid to the Department's consulting firm cannot exceed the maximum stated cost, no matter how complex.
The Department has the experience and flexibility to provide the level of regulation needed for nearly any situation. It regulates more than 2,000 insurance companies, ranging from domestic companies with members of some of the world's largest groups to small farm mutual companies that operate out of an officer’s home.
The Department has significant experience and expertise relating to reinsurance. Members of some of the world’s largest reinsurance groups are domiciled in the state. A full-time reinsurance expert is on staff to assist in processing filings and has streamlined the review process. Due to confidence in our review process, our laws have incorporated a 60-day window for the Department to decide on a completed application for a special-purpose life reinsurance captive.
There is a significant amount of insurance expertise in the state. The National Association of Insurance Commissioners is headquartered in Kansas City and all the major accounting and actuarial firms have office locations in our state. You’ll find plenty of support services available to meet your captive’s needs.
Missouri has a rich history, strong traditions and a bright future. From small communities to large metropolitan areas, Missouri welcomes millions of visitors each year to discover all of the features that make our state extraordinary. Missouri is a great place to live, do business in or relocate to. Learn more about our diverse state at http://www.visitmo.com/.
With offices in St. Louis, Kansas City and Jefferson City, we’ll meet where it’s most convenient to you and we are always just a phone call away.
Missouri Department of Commerce & Insurance
Insurance Divisions Street Address:
Harry S Truman State Office Building
301 W. High St., Room 530, Jefferson City, MO 65101 Mailing Address:
PO Box 690
Jefferson City, MO 65102-0690 Correspondence with fees:
PO Box 4001
Jefferson City, MO 65102-4001 Main Office Phone Number: (573) 751-4126