Navigators Completes Acquisition of Belgian Specialty Insurer
NAVIGATORS GROUP (NAVG)
Last navigators group earnings: 5/9 05:18 pm
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Source: GlobeNewswire
STAMFORD, Conn., June 07, 2018 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (NASDAQ:NAVG) today announced the completion of the acquisition of Bracht, Deckers & Mackelbert NV (“BDM”), a specialty underwriting agency, and its affiliated insurance company, Assurances Continentales – Continentale Verzekeringen NV (“ASCO”). Both companies are domiciled in Antwerp, Belgium. As part of the transaction, Navigators also acquired Canal Re SA, a Luxembourg reinsurance company that is a wholly-owned subsidiary of ASCO. The addition of BDM and ASCO advances Navigators’ diversification strategy, expanding upon the company’s existing European presence in Rotterdam, Milan, Paris, Madrid and its current Antwerp office. Stanley A. Galanski, President and Chief Executive Officer of Navigators, commented, “The transaction demonstrates Navigators’ commitment to delivering our technical expertise and specialty insurance products to more brokers and insureds in Europe, while also providing a solution
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