NEW YORK, NY, Jan. 18, 2012 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (NASDAQ: NAVG) announced today that its principal underwriting agency subsidiary, Navigators Management Company, Inc., has expanded its Navigators Re division by launching a professional liability reinsurance unit to be led by William C. Redington.
"Bill is an established industry expert with a solid track record, and we’re excited to have him lead our new professional liability unit," said H. Clay Bassett, Jr., President of Navigators Re. "Bill will be underwriting both medical and non-medical professional liability reinsurance through our reinsurance broker partners. This represents Navigators Re’s fourth business unit, in addition to Agriculture, Accident & Health and Latin American Property & Casualty."
Prior to joining Navigators, Mr. Redington was Head of Professional Liability at Munich Re America from 2004 to 2011, Chief Underwriting Officer of Munich Re America’s Specialty Markets from 1999 to 2004 and, previous to that, served in various underwriting management positions with several companies in the reinsurance and specialty insurance sectors.
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, 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. Navigators undertakes no obligation to publicly update or revise any forward-looking statement.