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Navigators launches new wholesale unit.

Navigators Group Inc. is looking to tap the firming excess and surplus lines markets by launching a new wholesale business unit.

Navigators said its principal underwriting agency subsidiary, Navigators Management Co., has created Navigators Specialty to focus on working with U.S. wholesale brokers. Navigators Specialty will initially underwrite primary and excess casualty products, said Jeff L. Saunders, who's been named to lead the new unit. He was previously president of Navigators excess casualty division.

The excess and surplus lines markets is showing signs of firming, with price increases in the single digits, Saunders said. "We are also seeing some increase in the exposure base, indicating a slightly growing economy," he said.

"During firming markets, the wholesale brokers are really called upon more extensively for solutions. By having a unit dedicated to working with wholesale brokers, we will be even more responsive to their needs, given a projected increase in business opportunity," Saunders said.

The executive management team for Navigators Specialty also consists of Mark J. Richards, president of primary casualty, and Don W. Roberts, chief underwriting officer. Also joining the new unit are Noel Higgitt and Henry A. Lopez, formerly regional vice presidents of Navigators Management Co.

The new unit combines the company's primary and excess casualty lines, Saunders said.
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Title Annotation:Companies
Author:Jeffrey, Jeff
Publication:Best's Review
Date:Apr 1, 2012
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