Navigators has entered into exclusive talks with Thomas Miller Specialty to transfer its fixed-premium protection indemnity (P&I) book to the marine specialist managing general agency (MGA).
Navigators affirmed that it remained committed to the market, adding that it will continue to provide capacity to book once it has been transferred to Thomas Miller Specialty.
“This is a logical and progressive step for Thomas Miller Specialty, enabling us to create scale in a competitive market, whilst focusing on the specific and complex servicing needs of clients,” remarked Thomas Miller Specialty CEO, Guy Pierpoint.
Navigators international insurance CUO, Colin Sprott, said: “The most important element of this mutually beneficial transaction is that it will meet the long-term needs of our clients,”
“Thomas Miller Specialty shares Navigators’ commitment to high-quality customer service, making them an excellent choice to support the much-needed process of consolidation in the protection and indemnity market. We remain committed to this market, demonstrated by the fact that we will continue to provide underwriting capacity to Thomas Miller Specialty.”
It is anticipated that the transfer will be completed by 20 February 2018, subject to regulatory approval.