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| FINANCIAL STRENGTH RATINGS |
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A.M. BEST
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S&P
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| Navigators Insurance Company |
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A
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A
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| Navigators Specialty Insurance Company |
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A
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A
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| Syndicate 1221 at Lloyd’s of London (Lloyd’s of London ratings) |
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A
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A+
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Navigators Insurance Company and Navigators Specialty Insurance Company are both rated ‘A’ (Excellent) by A.M. Best and ‘A’ (Strong) by Standard & Poor’s. Navigators also owns and operates Syndicate 1221 at Lloyd’s of London. Lloyd’s is rated ‘A’ (Excellent) by A.M. Best and ‘A+’ (Strong) by Standard & Poor’s.
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FINANCIAL SUMMARY
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Three Months Ended
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($ in thousands, except per share amounts)
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March 31, 2011
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March 31, 2012
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Gross written premiums
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$296,283
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$343,149
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Net written premiums
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$193,076
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$243,045
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Net income
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($7,893)
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$7,904
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Net income per share - diluted
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$0.50
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$0.56
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Operating earnings per share
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$0.43
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$0.48
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Total assets
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$3,637,110
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$3,847,527
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Stockholders' equity
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$815,172
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$818,217
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Book value per share
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$52.29
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$58.44
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Total debt
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$114,171
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$114,312
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Debt to capital
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12.3%
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12.3%
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Combined ratio
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117.1%
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99.8%
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