Navigators Announces Sale of iTrade
NEW YORK, NY, Feb. 6, 2013 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (NASDAQ:NAVG) today announced that its principal underwriting agency subsidiary, Navigators Management Company, Inc. (NMC), has sold its bonds and logistics retail agency, iTrade Risk & Insurance Services, to Integro USA. Financial considerations were not disclosed.
"iTrade has established itself within the freight forwarder industry as a fresh approach to insurance and bonds, and we look forward to our continued relationship as Integro will become a key distribution partner for Navigators for custom and transportation bonds and cargo business," said Vincent C. Tizzio, President and CEO of NMC.
The Navigators Group, Inc. is an international specialty insurance holding company with insurance company operations, underwriting management companies, and operations at Lloyd's. Headquartered in New York, Navigators has offices in major insurance centers in the United States, the United Kingdom and Continental Europe.
This press release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Whenever used in this release, the words "estimate," "expect," "believe," "may," "will," "intend," "continue" or similar expressions are intended to identify such forward-looking statements. We cannot assure that results that we anticipate will be achieved, since results may differ materially because of known and unknown risks and uncertainties that we face. Please refer to Navigators' most recent Forms 10-K and 10-Q and its other filings with the Securities and Exchange Commission for a description of Navigators' business and the important factors that may affect that business. Navigators undertakes no obligation to publicly update or revise any forward-looking statement.
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