JLT Towner has confirmed the acquisition of Charter Risk Management Services, a captive management company based in Connecticut. Thomas Hodson, president and CEO of Charter, will head the new office.
Charter was co-owned by The Compass Company, a New York-based risk management subsidiary of Park Strategies. JLT Towner will purchase Compass’ ownership in Charter and part of Hodson’s interest.
Guy Ragosta, CEO and partner at JLT Towner, said: “[Hodson] is a seasoned veteran and a well respected leader in the industry with a great reputation. His knowledge of the industry and experience bringing together large group programs adds to our company’s strengths. [His] presence in Connecticut is particularly important, because the state is one of the world’s great insurance centres.”
Hodson was previously general counsel of the AIX Group. He also serves as president of the Connecticut Captive Insurance Association. In a statement released by JLT Towner, he is described as “an influential figure in the modernisation of Connecticut’s captive laws.”
