Towner Management Opens U.S. Operations Office, Names Guy Ragosta U.S. CEO

Burlington, VT (April 06, 2008)—The Towner Management Group (TMG), the largest independent manager in Barbados, opened its U.S. Operations headquarters today in Burlington, Vermont, the center of U.S. captive insurance activity.

At the same time, TMG’s founding Chairman, Christopher J.N. Towner, announced that industry veteran Guy Ragosta would serve as U.S. Operations CEO and Partner.

“This is an exciting time for all of us at The Towner Management Group,” says Towner. “Our group may be new in the United States, but we have a long and successful history managing business entities with parent companies in the U.S. in Canada. We believe this new headquarters is a natural extension of our organic growth, and have every confidence that U.S. Operations will thrive under Guy’s direction.

”Although the Towner name may be new in the U.S., we expect to match any management company’s experience with the addition of Guy and other subsequent top professionals,” adds Towner. “The difference is we will provide the service that only an independent management company can offer.”

Ragosta has two decades of captive insurance management experience. Most recently, a CEO of Marathon Health, Guy was the Regional Executive Director for Willis’ Captive, Actuarial, Pooling Solution (CAPS) division for a dozen years, helping to establish an international consulting network with 14 offices in the U.S. and Caribbean. Prior to joining Willis, Guy served as the Director of Financial Services to the Vermont captive insurance industry for KPMG Peat Marwick and was a Director of Tax Services for Ernst & Young.

The Towner Management Group (TMG) is an independent, full-service captive insurance and international business entity management company with a multi-domicile reach. We provide our clients with alternative risk solutions to meet their diverse needs. TMG is headquartered in Barbados, where it is the largest manager, and in Vermont, where it is ideally situated to partner with companies that wish to establish domestic captive domiciles. TMG also manages captive insurance companies, International Business Companies (IBCs) and other offshore entities in Barbados and other jurisdictions.

Email us at businessBB@townermanagement.com for more information about Towner Management’s services in Barbados or at businessUS@townermanagement.com for inquiries about U.S. captive services.