NU Online News Service, March 5, 9:30 a.m. EST
The captive insurance market in Missouri has seen explosive growth in the past year, with annual premium for captives reaching more than $1 billion for 2009--up from $123 million in 2008, according to the Department of Insurance.
The department said it licensed three new captives in 2009 and that the industry has expanded largely because of a new state law simplifying the captive formation process.
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