JLT Towner Insurance Management (USA), LLC, announced its acquisition of Charter Risk Management Services, LLC, a Connecticut captive management company. Terms of the transaction were not disclosed.
Under the transaction, Thomas F.X. Hodson, Charter’s president and chief executive officer, will lead Burlington, Vt.-based JLT Towner’s Connecticut office. Hodson also currently serves as president of the Connecticut Captive Insurance Association.
Charter was co-owned by The Compass Company Consultants, LLC, an Albany, N.Y.-based risk management subsidiary of New York City-based Park Strategies, LLC. JLT Towner is purchasing Compass’ ownership in Charter and part of Hodson’s interest.
JLT Towner is an independent, full-service captive insurance management and captive consulting company with a multi-domicile reach.