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Hartford reveals upheaval pending Navigator's acquisition



Navigators Group Inc. President and CEO Stanley A. Galanski will set aside at the end of Hartford Financial Services Group Inc.'s 2.1 billion acquisition of the special insurance company, Hartford said Monday.

Mr. Galanski, who has led navigators since 2003, will continue to act as CEO and CEO through the completion of the acquisition and then continue in an executive advisory role during a transitional period, Hartford said in a statement.

Hartford said existing specialty commercial and medium-sized businesses will serve as Global Specialty and Middle & Large Commercial.

A. Morris "Mo" Tooker will lead the newly merged, medium-sized and large business, including national accounts, and continue to report to Hartford's president Doug Elliot, the company said.

Also reports to Elliot, Vincent C. Tizzio, currently president of Navigator's US insurance business, will lead Global Specialty, the statement said.

Middle & Large Commercial will include approximately $ 2.7 billion of net written premiums on a pro forma basis, Hartford says. This retail will offer workers compensation, general responsibility, auto liability and property insurance to medium and large companies, the statement said.

Global Specialty accounts for about $ 1

.9 billion in pro forma net written premiums and will offer a wide range of specialty products through retail and wholesale channels, including US specialty insurance, international law and security and finance, according to the statement.

M. Ross Fisher, Hartford's current head of Specialty Commercial, will become Global Property / Accident Manager and continue to report to Elliot, Hartford said in the statement.

H. Clay Bassett Jr., will continue to lead Navigator's reinsurance business in the new organization and report to Mr. Fisher.

Subject to regulatory approval, the acquisition is expected to be closed by the end of March or April.

Some 820 employees will join Hartford when the deal ends, as announced in August 2018.

                    


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