Navigators Announces Additional $50.2M Share Repurchase Program

The Navigators Group NAVG today announced that its Board of Directors has adopted a share repurchase program for up to $50 million of the Company's common stock. This repurchase program is in addition to the Company's existing $65 million share repurchase program, announced in November 2009, pursuant to which 1,111,608 shares have been purchased at an aggregate purchase price of $50.2 million. Repurchases may be made from time to time at prevailing prices in open market or privately negotiated transactions through December 31, 2011. The timing and amount of the purchases under the program will depend on a variety of factors, including the trading price of the stock, market conditions and corporate and regulatory considerations and there can be no assurance that any additional shares will be purchased by the Company under this program.