Market Overview

A.M. Best Comments on Credit Ratings of the Navigators Group, Inc. Following Announced Sale


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

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.

A.M. Best will continue to evaluate any developments relative to
Navigators's or its subsidiaries' ratings as additional details
regarding the transaction terms and integration plans become available.

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

A.M. Best is a global rating agency and information provider with a
unique focus on the insurance industry. Visit
for more information

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its

View Comments and Join the Discussion!