Business & Finance
Business and Finance
Business and Finance
Thu, October 28, 2010 
NEW YORK--([ BUSINESS WIRE ])--The Navigators Group, Inc. (NASDAQ: NAVG) today announced that its principal underwriting agency subsidiary, Navigators Management Company, Inc., has established Navigators Re, a unit focused on developing specialty assumed reinsurance business.
"As a global specialty insurer, there are certain product lines and geographies where a reinsurance approach is a more efficient and practical manner in which to participate in the market"
"As a global specialty insurer, there are certain product lines and geographies where a reinsurance approach is a more efficient and practical manner in which to participate in the market,a said Stan Galanski, President and CEO of Navigators. aNavigators Re will complement our existing insurance business and will be part of our culture that emphasizes specialization, underwriting discipline and a long-term commitment to the markets we enter.a
aNavigators Re will focus on specialty niches that provide geographic, product and cycle diversification to the Group underwriting portfolio,a commented Clay Bassett, Navigatorsa™ Chief Underwriting Officer & Chief Risk Officer, who has assumed the additional role of President of Navigators Re. aOur initial three areas of focus are Accident & Health, non-U.S. regional property, and agriculture a" each led by an established industry veteran with a solid track record.a
Joann DeBlasis has joined Navigators Re as President of the Accident & Health Division, underwriting both proportional and excess of loss treaty business covering medical health care exposures. Ivan Vega has also recently joined Navigators Re, leading a Miami-based team focused on underwriting property treaty reinsurance business covering exposures in Central and South America and the Caribbean. Rob Larson, who started the agriculture practice last year, will continue to lead that business.
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 "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Whenever used in this release, the words "estimate," "expect," "believe" 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 Navigators' most recent Forms 10-K and 10-Q and its other filings with the Securities and Exchange Commission for a description of Navigators' business and the important factors that may affect that business. Navigator undertakes no obligation to publicly update or revise any forward-looking statement.
