Navigators Group Releases 3Q Catastrophe Report

STAMFORD, Conn., Oct. 05, 2017 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (NASDAQ:NAVG) today announced that its estimated financial impact from natural catastrophes in the third quarter will range from $50 to $70 million pre-tax and $33 to $45 million after tax.

The company is providing these estimates, which include potential claims from Hurricanes Harvey, Irma and Maria and the earthquakes in Mexico, because of the unprecedented frequency and severity of natural catastrophe events during the quarter. 

This range reflects management’s best estimates based on a review of its potential exposures, preliminary discussions with certain counterparties and catastrophe modeling techniques.  These estimates are subject to change due to the complexity of the events and preliminary nature of the information available. Updated loss estimates will be reflected in the company’s third quarter 2017 results, when reported.

The Navigators Group, Inc. is an international specialty insurance holding company with operations in the United States, the United Kingdom, Continental Europe and Asia.