Navigators Management (UK) and Thomas Miller Specialty have entered into exclusive discussions over Thomas Miller Specialty’s acquisition of Navigators’ fixed-premium protection and indemnity business.
Guy Pierpoint, Chief Executive Officer, Thomas Miller Specialty, said; “This is a logical and progressive step for Thomas Miller Specialty, enabling us to create scale in a competitive market, whilst focusing on the specific and complex servicing needs of clients.”
“The most important element of this mutually beneficial transaction is that it will meet the long-term needs of our clients,” added Colin Sprott, Chief Underwriting Officer of International Insurance for Navigators.
“Thomas Miller Specialty shares Navigators’ commitment to high-quality customer service, making them an excellent choice to support the much-needed process of consolidation in the protection and indemnity market. We remain committed to this market, demonstrated by the fact that we will continue to provide underwriting capacity to Thomas Miller Specialty,” he said.
The transfer is expected to be completed before the 20th of February 2018, subject to regulatory approvals.
