Navigators report Q3 results

The Navigators Group, Inc. has reported that in the three months ended 30 September 2012 it made a net income of $12.9m, equating to $0.90 per diluted share.

This is slightly down on the $13.9m, or $0.92 per diluted share, the firm made during the corresponding period last year.

Quarterly gross written premiums were $298.7m, up 17% year-on-year, with net written premiums of $188m, a 7.2% rise from Q3 2011.

In the first nine months of 2012 Navigators reported a net income of $35.7m, equating to $2.51 per diluted share, compared to $15.5m, or $1.00 per diluted share, last year.

Gross and net written premiums for 9M 2012 were $964.9m and $621.3m respectively, up 16.2% and 12.6% from last year.

President and Chief Executive Officer Stan Galanski said that the firm was pleased to have met its objectives of underwriting profit and growth in book value per share.

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Category: Financials, Insurance News