Missouri insurance officials credit a state law enacted earlier this year simplifying the formation of captives in the state for interest in the local captive industry and the formation of a new captive there by Ralcorp Holdings Inc.

St. Louis-based Ralcorp is a producer of private-label foods and foodservice products.

Missouri Gov. Jay Nixon signed the new law in July, easing the relocation of captives to Missouri and making it more attractive for out-of-state companies to form in Missouri. Missouri regulators say that since the law was enacted they've seen considerable interest in the domicile from companies across the country.

Missouri regulators also said that premiums written by Missouri captives have increased from $30 million in 2007 to $123 million in 2008, and they estimated they would reach approximately $1 billion by the end of this year.