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JLT Towner buys Conn. captive management company

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JLT Towner Insurance Management (USA) L.L.C. has acquired Connecticut captive management company Charter Risk Management Services L.L.C. from Albany, N.Y.-based The Compass Co. Consultants L.L.C.

Terms of the transaction were not disclosed.

Thomas F.X. Hodson, Charter's president and CEO, will lead Burlington, Vt.-based JLT Towner's Connecticut office, JLT Towner said Tuesday in a statement.

JLT Towner is a joint venture between Jardine Lloyd Thompson Group P.L.C. and Towner Management.

Compass Co. Consultants is a subsidiary of New York-based Park Strategies L.L.C. In addition to purchasing Compass' ownership in Charter, JLT Towner purchased a portion of Mr. Hodson's interest in the captive manager.

Mr. Hodson also serves as president of the Connecticut Captive Insurance Association.