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Navigators forms new reinsurance business unit

The Navigators Group has said that its principal underwriting agency subsidiary Navigators Management, has established Navigators Re, a new unit focused on developing specialty assumed reinsurance business.

Clay Bassett, Navigators’ chief underwriting officer and chief risk officer, has assumed the additional role of president of Navigators Re.

Joann DeBlasis has joined Navigators Re as president of the Accident & Health Division at Navigators Re, underwriting both proportional and excess of loss treaty business covering medical health care exposures.

Ivan Vega has also recently joined Navigators Re, a Miami-based team focused on underwriting property treaty reinsurance business covering exposures in Central and South America and the Caribbean. Rob Larson, who started the agriculture practice last year, will continue to lead that business.

Bassett said, Navigators Re will focus on specialty niches that provide geographic, product and cycle diversification to the group underwriting portfolio.

Our initial three areas of focus are Accident & Health, non-US regional property, and agriculture – each led by an established industry veteran with a solid track record, Bassett said.