NEW YORK, NY, Oct. 17, 2011 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (NASDAQ:NAVG) today announced that its principal underwriting subsidiary, Navigators Management Company, Inc., is continuing to expand its Navigators Global Life Science unit by appointing new product and underwriting specialists in response to the life science industry’s growth opportunities.
"Venture capital firms have ranked the life science industry within the top three sectors for investment growth during the second quarter of 2011, with biotechnology ranking second and medical devices ranking third," said Lyn Rossano, Senior Vice President and Head of Global Life Sciences. "Navigators Global Life Sciences is responding to this industry growth by providing specialists dedicated to each distinct sub-category to tailor the best insurance solutions."
Thomas A. Konopka has been appointed to Senior Vice President of Field Operations, Life Sciences. Prior to joining Navigators, Mr. Konopka was part of the executive management team at Medmarc, an underwriting company of products-completed operations liability insurance for manufacturers and distributors of medical technology and life sciences products, where he played a key role in establishing the company’s brand within the independent broker distribution and healthcare technology communities.
Michael J. Dunn has been appointed the Wholesale Brokerage Leader for Life Sciences. Mr. Dunn has 21 years of industry experience and most recently was Life Sciences Underwriting Director at CNA Insurance.
Jeffrey S. Mayes has been appointed Product Leader for Medical Devices. Mr. Mayes has 29 years of industry experience and most recently was an Account Executive with Travelers’ Technology unit.
"We are eager to provide the expertise of these uniquely suited individuals," commented LoriAnn V. Lowery-Biggers, President of Field Operations. "Not only will we be able to better align our resources and distribution with broker needs, but we will be providing insurance products that speak to the unique risks of this rapidly evolving industry."
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," "may," "will," "intend," "continue" 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.