Navigators Closes Offering Of $265 Million Of Senior Notes

NEW YORK, NY, Oct. 4, 2013 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (NASDAQ:NAVG), an internationalcommercial property & casualty specialty insurance holdingcompany, has closed its public offering of $265 million aggregateprincipal amount of senior unsecured notes due 2023 (the "Notes").The offering was made pursuant to an effective shelf registrationstatement filed with the Securities and Exchange Commission (the"SEC").

The Company intends to use the net proceeds of the offering to(i) to redeem $115 million aggregate principal amount of its 7.0%Senior Notes due May 1, 2016 currently outstanding and (ii) forgeneral corporate purposes.

Goldman, Sachs & Co. and Keefe, Bruyette & Woods, Inc.acted as joint book-running managers for the offering. The offeringwas made solely by means of a prospectus supplement andaccompanying prospectus, which have previously been filed with theSEC. A copy of the prospectus supplement and related baseprospectus may be obtained on the SEC's website at www.sec.gov. Alternatively, the underwriters will providecopies upon request to: Goldman, Sachs & Co., Attention:Prospectus Department, 200 West Street, New York, New York 10282,or by telephone at 1-866-471-2526, 

This press release does not constitute an offer to sell or asolicitation of an offer to buy the Notes, and shall not constitutean offer, solicitation or sale in any state or other jurisdictionin which such an offer, solicitation or sale would beunlawful.

About Navigators The Navigators Group, Inc. is an international specialty insuranceholding company with insurance company operations, underwritingmanagement companies, and operations at Lloyd's. With its corporateheadquarters in Connecticut and insurance operations based in NewYork and London, Navigators has offices in major insurance centersin the United States, the United Kingdom and ContinentalEurope.

Caution Regarding Forward LookingStatements 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 a description ofNavigators' business and the important factors that may affect thatbusiness. Navigators undertakes no obligation to publicly update orrevise any forward-looking statement.
CONTACT: Taha Ebrahimi         (212) 613-4288         tebrahimi@navg.com         www.navg.com

The Navigators Group, Inc. Logo