NEW YORK, NY, April 9, 2013 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (NASDAQ:NAVG) today announced thehiring of Colin Sprott as President, Global Marine. Mr. Sprott willbe responsible for U.S. and international Ocean Marine underwritingoperations, reporting to Clay Bassett, Chief Underwriting Officerof The Navigators Group, Inc. Based in the Company's Londonoffice, Mr. Sprott will also serve as a Director on the Board ofNavigators Underwriting Agency Ltd. (NUAL), the underwriting agencymanaging the Company's operations at Lloyd's (subject to regulatoryapproval). Mr. Sprott most recently served as Managing Director, XL Ltd,responsible for the Global Marine & Offshore Energy operationsthere, as well as serving as the Deputy Underwriter of XL'sSyndicate 1209 at Lloyd's. Previous to that, he held variousmanagement positions with American International Group and SedgwickInsurance Brokers. Mr. Sprott has held committee membershipssupporting the London Market Association (LMA) and InternationalUnion of Marine Insurance (IUMI). Mr. Bassett commented, "We are pleased to have Colin joinNavigators in this important leadership role. His track record ofprofitable underwriting management, leadership and clear marketpresence gives us confidence that he will make a strongcontribution to our culture of underwriting excellence,specialization and growth in book value." "I am excited to join a company with Navigators' long-standingstature in the global marine market, with strong underwriting teamsin both the U.S. and London," Mr. Sprott said. "I lookforward to working with my new colleagues to continue building thebook value of the Company." The Navigators Group, Inc. is an international specialtyinsurance holding company with insurance company operations,underwriting management companies, and operations at Lloyd's.Headquartered in New York, Navigators has offices in majorinsurance centers in the United States, the United Kingdom andContinental Europe. This press release may contain "forward-looking statements" asdefined in the Private Securities Litigation Reform Act of 1995.Whenever used in this release, the words "estimate," "expect,""believe," "may," "will," "intend," "continue" or similarexpressions are intended to identify such forward-lookingstatements. We cannot assure that results that we anticipate willbe achieved, since results may differ materially because of knownand unknown risks and uncertainties that we face. Please refer toNavigators' most recent Forms 10-K and 10-Q and its other filingswith the Securities and Exchange Commission for adescription of Navigators' business and the important factors thatmay affect that business. Navigators undertakes no obligation topublicly update or revise any forward-looking statement.
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