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Navigators Announces Sale of the Renewal Rights for its Middle Market Commercial Package Business to Tower Insurance Company of New York

NEW YORK--(BUSINESS WIRE)--The Navigators Group, Inc. (NASDAQ:NAVG) today announced that its subsidiary, Navigators Insurance Company, has entered into a transaction with Tower Insurance Company of New York, a subsidiary of Tower Group, Inc. (NASDAQ:TWGP), to sell the renewal rights for the middle market commercial package and commercial automobile business underwritten through its NAV PAC division. The transaction did not include the NAV PAC Global or Life Sciences products, which are also underwritten within the division. The portfolio of policies subject to the transaction involves gross written premium of approximately $33 million in 2010.