Navigators Management (UK) and Thomas Miller Specialty have entered into exclusive 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, CEO Thomas Miller Specialty.
Thomas Miller is a provider of insurance services. Navigators Management (UK) is a subsidiary of The Navigators Group.
Colin Sprott, chief underwriting officer of international insurance for Navigators, added: “The most important element of this mutually beneficial transaction is that it will meet the long-term needs of our clients.
“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.”
The firms expect that the transfer will be completed well in advance of 20th February 2018, subject to receipt of required approvals, according to a Jan. 16 press release.