A.M. Best Affirms Ratings of Navigators Insurance Company, Its Subsidiary and The Navigators Group, Inc.

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has affirmed the financial strength rating of A (Excellent) and the issuer credit ratings of “a+” of Navigators Insurance Company (Navigators) and its wholly owned and 100% reinsured subsidiary, Navigators Specialty Insurance Company (Specialty). Concurrently, A.M. Best has affirmed the ICR of “bbb+” and the debt ratings of “bbb+” on $265 million 5.75% senior unsecured notes, due 2023 as well as the shelf ratings of “bbb+” on senior unsecured notes, “bbb” on subordinated notes and “bbb-“ on preferred securities of Navigators’ publicly traded ultimate parent, The Navigators Group, Inc. [NASDAQ:NAVG]. Additionally, A.M. Best has withdrawn the shelf ratings on the preferred securities of Navigators Capital Trust I and Navigators Capital Trust II, as the shelf registration statement pursuant to which those securities were registered has expired. The outlook for all ratings is stable. All companies are domiciled in New York, NY.