Ryan Specialty Group Acquires Navigators' Nordic Agency Operations
(Thomson Reuters ONE) -
LONDON, Jan. 03, 2017 (GLOBE NEWSWIRE) -- The Navigators Group, Inc.
(NASDAQ:NAVG) ("Navigators") and Ryan Specialty Group, LLC ("RSG") announced
today the acquisition by RSG of Navigators' insurance agency operations in
Sweden and Denmark.
The transaction represents a 100% acquisition of Navigators' Sweden and Denmark
corporations, NUAL AB and Navigators A/S, respectively. Navigators' local
employees have agreed to continue their employment with RSG, with Sverker
Edstrom continuing to lead the Stockholm operation and Thomas Harrild remaining
responsible for the Copenhagen office. In assuming the operations, RSG, a
leading distributor of specialty insurance products and services, will leverage
its expertise to enhance the customer service available to local brokers and
insureds.
Following the acquisition, the new RSG offices, renamed RSG Sweden and RSG
Denmark, will partner with Navigators to continue to bring local customers
management and professional liability products written on and backed by
Navigators Lloyd's Syndicate 1221 paper, giving insureds the same financial
strength and expert claims handling they have come to expect.
"This transaction supports Navigators' strategic focus on serving clients across
continental Europe," said Michael J. Casella, Navigators' President of
International Insurance. "Our partnership with RSG will enable us to more
efficiently serve clients in these markets while still providing them with the
innovative products and financial strength Navigators is known for."
"Equally, this furthers RSG's European expansion plans," said Michael D. Rice,
Chairman of RSG Underwriting Managers, LLC, a subsidiary of RSG. "We are very
pleased to be able to further develop our strong relationship with Navigators
with this transaction."
The sale excludes Navigators' Nordic marine lines of business, which will
continue to be managed out of Rotterdam.
About Navigators
The Navigators Group, Inc. is an international specialty insurance holding
company with insurance company operations and underwriting management companies,
including operations at Lloyd's. Navigators has offices in the United States,
the United Kingdom and Continental Europe, as well as a representative office in
China.
About Ryan Specialty Group
Ryan Specialty Group, LLC is an international holding company consisting of
wholesale broker, R-T Specialty, LLC, underwriting manager, RSG Underwriting
Managers, LLC, and insurance service provider, Ryan Direct Group Limited, each
servicing a client base of brokers, agents and insurance carriers.
Contact
Courtney Oldrin
+1 203 905 6531
coldrin(at)navg.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: The Navigators Group, Inc. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 03.01.2017 - 18:59 Uhr
Sprache: Deutsch
News-ID 515590
Anzahl Zeichen: 3447
contact information:
Town:
Rye Brook
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Ryan Specialty Group Acquires Navigators' Nordic Agency Operations"
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