Reinsurance News
Navigators
Navigators & General to be acquired by Geo Underwriting
1st August 2024
Geo Underwriting, a division of Ardonagh Advisory that offers diverse insurance solutions, plans to acquire Navigators & General (N&G), a marine insurance provider, from Zurich UK. Established in 1921 by Captain William Coombs, a WWI Veteran and Merchant Navy officer. N&G provides insurance coverage for a range of boats and vessels, as ... Read the full article
Castel acquires renewal rights for Navigators Europe from The Hartford
17th July 2020
Castel Underwriting Agencies Limited's subsidiary, Castel Underwriting Europe B.V. (Castel Europe), has reached an agreement with U.S. insurer The Hartford to acquire the renewal rights for Navigators Europe, the trading name of the Bracht, Deckers & Mackelbert NV (BDM)/ASCO Continentale Verzekeringen NV (ASCO), Rotterdam marine business. The Hartford completed its ... Read the full article
The Hartford names William Steinberg head of wholesale property, Navigators
18th June 2020
Property and casualty insurer The Hartford has appointed William Steinberg as head of wholesale property for Navigators, a brand of the company. In his new role, Steinberg reports to Vince Tizzio, head of the Global Specialty business at The Hartford, and will partner closely with Tim Ryan, who leads the Wholesale ... Read the full article
The Hartford completes Navigators takeover
23rd May 2019
The Hartford has closed its previously announced acquisition of The Navigators Group, Inc. for a total price of $2.2 billion in cash, including expenses. The deal, announced in August of 2018, expands The Hartford's product offerings and geographical footprint. Navigators has 22 locations across the U.S. and eight globally, and has roughly ... Read the full article
Hartford buying ADC for Navigators from Berkshire Hathaway
2nd May 2019
The Hartford has announced that it plans to buy $300 million of adverse development cover (ADC) from Berkshire Hathaway to protect it against unfavourable loss reserve movement at The Navigators Group, which The Hartford is in the process of acquiring. Subject to the closing of its acquisition this summer, The Hartford ... Read the full article
The Hartford reveals new operating model for Navigators businesses
5th February 2019
Property and casualty insurer The Hartford has announced a new operating model and organisational structure for its specialty commercial and middle market businesses following the completion of its pending acquisition of The Navigators Group. The new model will integrate Navigators’ operations, as well as The Hartford’s current Specialty Commercial and Middle ... Read the full article
The Hartford announces $2.1 billion acquisition of Navigators
22nd August 2018
The Hartford has agreed to acquire all the outstanding common shares of The Navigators Group, Inc., in an all-cash transaction valued at $2.1 billion, or $70 per share. The Board of Directors of both companies have approved the deal, but it remains subject to approval by the shareholders of Navigators and ... Read the full article
Navigators completes takeover of specialty underwriting agency BDM and affiliate
7th June 2018
The Navigators Group, Inc. has completed its acquisition of specialty underwriting agency Bracht, Deckers & Mackelbert NV (BDM) and its affiliated insurer Assurances Continentales (ASCO), which includes ASCO's Luxembourg domiciled reinsurer, Canal Re SA. The acquisition has now completed after the receipt of all necessary regulatory approvals, with Navigators paying €35 million in cash as consideration ... Read the full article
Navigators sees firmer reinsurance as a growth area
23rd February 2018
Navigators Group Inc. sees the improved pricing conditions in reinsurance markets as an opportunity for growth, with CEO Stan Galanski saying that he expects the Navigators Re division to benefit from "modest firming" of property reinsurance rates. President and CEO of Navigators Group Stan Galanski said that the "extraordinary" level of ... Read the full article
Thomas Miller Specialty completes takeover of Navigators’ fixed-premium P&I business
8th February 2018
Thomas Miller Specialty has today announced that it's completed the takeover of Navigators’ London domiciled, fixed-premium protection and indemnity operation. In mid-January 2018 it was announced that Thomas Miller Specialty, a commercial Managing General Agency (MGA), entered into exclusive discussions over the acquisition of Navigators’ fixed-premium protection and indemnity business. At the time, ... Read the full article
Navigators expands European presence with Spain office
6th December 2017
Navigators International has expanded its European presence with the opening of a Spain office, to be headed up by Carlos Peña Kaiser as Country Manager. Using its newly capitalised retail insurer, Navigators International, the carrier hopes to target Spain-domiciled companies. The move comes as part of a strategy of geographic expansion of ... Read the full article
Navigators promotes Michael McKenna to Chief Underwriting Officer, U.S. Insurance
29th November 2017
Navigators has promoted Michael McKenna to Chief Underwriting Officer (CUO) for the U.S. Insurance segment, from his role as President of U.S. Marine. In the newly created role, McKenna will work with the U.S. Insurance divisional leaders to advance the growth and profitability of the segment's business, including expanding the portfolio into new ... Read the full article
Navigators promotes two senior executives to lead industrial risks unit
14th August 2017
The Navigators Group has announced the promotions of Patrick Milner to President and Jerry Wosleger to Senior Vice President of NavTech, the firm's global business unit underwriting energy construction and other technical industrial-related risks. Milner succeeds Stephen Coward, who retired as President of NavTech at the end of July after more than 15 years with ... Read the full article
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