Navigators Management (UK) Ltd. and Thomas Miller Specialty announced that they have entered into discussions, under which Thomas Miller Specialty would acquire Navigators’ fixed-premium protection and indemnity business.
“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,” said Guy Pierpoint, Chief Executive Officer, Thomas Miller Specialty.
It is anticipated that the transfer will be completed by 20 February 2018, subject to receipt of required approvals.
“The most important element of this mutually beneficial transaction is that it will meet the long-term needs of our clients,” said Colin D. Sprott, Navigators’ International Insurance Chief Underwriting Officer. “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.”
