A big-ticket transaction has just been announced between two insurance giants. The Hartford Financial Services Group, Inc. (The Hartford) has entered into a definitive agreement to acquire global specialty insurer, The Navigators Group, Inc. (Navigators) in a $2.1 billion all-cash transaction.
“We’re excited to announce the acquisition of Navigators, which we are confident will achieve key strategic and financial objectives for The Hartford,” said The Hartford’s chairman and CEO Christopher Swift. “It expands our product offerings and geographic reach, and adds tenured and proven underwriting and industry talent while strengthening our value proposition to agents and customers. We’re optimistic about our combined growth opportunities and expect the acquisition to generate attractive returns.”
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