STAMFORD, Conn., June 12, 2015 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (Nasdaq:NAVG) announced today two changes to the leadership of its international insurance segment that will better position the Company for ongoing profitable growth. These changes are subject to required regulatory approval.
Carl Bach III, President of Navigators Pro, the Company’s international management and professional liability insurance division, has been promoted to Managing Director of Navigators Underwriting Agency Limited and President of London Market Insurance. Mr. Bach joined Navigators in 2009 and has led the successful expansion of the international operations of Navigators Pro and the Company’s product expansion into international casualty. Mr. Bach will report to Paul Hennessy, who continues as President of International Insurance.
Colin Sprott, President of Global Marine, has been promoted to Chief Underwriting Officer of International Insurance and Active Underwriter of Lloyd’s Syndicate 1221. Mr. Sprott joined Navigators in 2013 to lead the Company’s Global Marine Practice. Mr. Sprott will report to Paul Hennessy, with a matrix reporting relationship to Clay Bassett, Jr., Navigators Group Chief Underwriting Officer.
Printhan Sothinathan will continue to be responsible for the leadership of the six European branch offices as President of Navigators Underwriting Ltd., the Company’s European underwriting agency. He will continue to work closely with Bach, Hennessy and Sprott in developing the Company’s international strategy and platform, including plans for the formation of Navigators International Insurance Company.
Stan Galanski, President and CEO of The Navigators Group, said, “We are pleased to announce these new executive responsibilities within our international insurance segment. These changes will more effectively support our traditional London market business in marine, energy, international D&O and professional liability; more recent initiatives such as international casualty; new products currently under development; and the ongoing expansion of our six European branch offices.”
The Navigators Group, Inc. is an international specialty insurance holding company with insurance company operations, underwriting management companies and operations at Lloyd's. The Company has offices in the United States, the United Kingdom and Continental Europe, as well as representative offices in China and Brazil.
The Navigators Group, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7778
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 the Company's December 31, 2014 Form 10-K and subsequent filings with the Securities and Exchange Commission for a description of its business and the important factors that may affect that business. The Company undertakes no obligation to publicly update or revise any forward-looking statement.