Business & Finance
Business and Finance
Business and Finance
Mon, July 19, 2010 Navigators Syndicate 1221 at Lloyda?s Co-Locates with Lloyda?s in Brazil
NEW YORK--([ BUSINESS WIRE ])--The Navigators Group, Inc. (NASDAQ:NAVG) today announced that its wholly-owned syndicate, Navigators Syndicate 1221 at Lloyda™s of London, is the latest to co-locate with Lloyda™s in Rio de Janeiro by appointing a local representative. Lloyda™s has Admitted Reinsurer status in Brazil and had its official opening there in April 2009.
"Having a qualified local representative in Rio de Janeiro will significantly improve our prospects of developing reinsurance business in the energy industry segment in which we specialise"
aHaving a qualified local representative in Rio de Janeiro will significantly improve our prospects of developing reinsurance business in the energy industry segment in which we specialise,a commented Stephen Coward, President of Navigators Technical Risk. aBrazil is an attractive market opportunity for Navigators because of its rapidly expanding economy. The country has plans to invest in its infrastructure as well as in the energy industry over the next 10 years. They are also the host country for the 2014 FIFA World Cup and the Olympic Games of 2016, which is expected to expand opportunities across the market. Over time, we expect that other Navigators products will also be introduced through this channel.a
Mr. Coward will be presenting at the Second Annual Lloyda™s Brazil Seminar held at the Copacabana Palace Hotel in Rio de Janeiro on Tuesday, July 20, at 9:45 a.m. local time. His presentation is titled aThe Opportunity and Challenges of Underwriting Construction Risks in the Energy and Infrastructure Sectors.a Lord Levene, Chairman of Lloyda™s, will give opening remarks.
The Navigators Group, Inc. is an international specialty insurance holding company with insurance company operations, underwriting management companies, and operations at Lloyd's of London. Headquartered in New York City, Navigators has offices in major insurance centers in the United States, the United Kingdom and Continental Europe.
This press release may contain aforward-looking statementsa as defined in the Private Securities Litigation Reform Act of 1995. Whenever used in this release, the words aestimate,a aexpect,a abelieve,a amay,a awill,a aintend,a acontinuea or similar expressions are intended to identify such forward-looking statements. We cannot assure that results that we anticipate will be achieved, since results may differ materially because of known and unknown risks and uncertainties that we face. Please refer to Navigatorsa™ most recent Forms 10-K and 10-Q and its other filings with the Securities and Exchange Commission for a description of Navigatorsa™ business and the important factors that may affect that business. Navigators undertakes no obligation to publicly update or revise any forward-looking statement.
