NU Online News Service, Oct. 28, 3:15 p.m. EDT

The Navigators Group, Inc. announced that its principal underwriting agency subsidiary, Navigators Management Company, Inc., has established Navigators Re, a unit focused on developing specialty assumed reinsurance business.

“As a global specialty insurer, there are certain product lines and geographies where a reinsurance approach is a more efficient and practical manner in which to participate in the market,” Stan Galanski, president and chief executive officer of Navigators said in a statement. “Navigators Re will complement our existing insurance business and will be part of our culture that emphasizes specialization, underwriting discipline and a long-term commitment to the markets we enter.”

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