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A.M. Best Comments on Credit Ratings of The Hartford Financial Services Group, Inc. Following Acquisition Announcement


A.M. Best has commented that the Credit Ratings (ratings) of The
Hartford Financial Services Group, Inc. (The Hartford) (Delaware)
(NYSE:HIG) and its subsidiaries remain unchanged following The
Hartford's recent announcement that it has entered into a definitive
agreement to acquire The Navigators Group, Inc. (Navigators)
(Delaware) (NASDAQ:NAVG).

The definitive agreement is an all-cash transaction that values the
Navigators enterprise at approximately $2.1 billion. Under the terms of
the agreement, Navigators stockholders will receive $70.00 per share in
cash upon the closing of the transaction. The agreement includes a
"go-shop" provision, where Navigators will have an opportunity to
solicit competing acquisition proposals for 30 days.

Based on the currently available information, A.M. Best does not
anticipate that the transaction will have any near-term impact on the
ratings of The Hartford or its subsidiaries. Holding company leverage
and coverage metrics will remain within guidelines. The current
assessments of balance sheet strength, operating performance, business
profile and enterprise risk management of The Hartford and its
subsidiaries are not expected to be materially affected over the near to
medium term by the acquisition of Navigators. A.M. Best will continue to
evaluate any developments relative to The Hartford ratings as additional
details regarding the transaction terms and integration plans become

A.M. Best expects the transaction to close in the first half of 2019,
subject to regulatory and stockholder approvals, and other customary
closing conditions.

This press release relates to Credit Ratings that have been published
on A.M. Best's website. For all rating information relating to the
release and pertinent disclosures, including details of the office
responsible for issuing each of the individual ratings referenced in
this release, please see A.M. Best's
Rating Activity
web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view
Best's Credit Ratings
. For information on the proper media
use of Best's Credit Ratings and A.M. Best press releases, please view
for Media - Proper Use of Best's Credit Ratings and A.M. Best Rating
Action Press Releases

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