Navigators’ A (excellent) FSR affirmed by Best

NAVIGATORS INSURANCE GROUP has had its A (excellent) financial strength rating affirmed by AM Best. The rating agency said this reflected Navigators’ position as a global provider of insurance to the marine markets and its well-diversified book of business. AM Best said other contributing factors to the affirmation included Navigators’ modest windstorm exposure, solid level of capitalisation and its approach to underwriting and claims management. Offsetting these positive factors, AM Best highlighted the group’s entry into relatively new lines of business in recent years, as well as Navigators’ elevated, though declining, dependence on reinsurance.