Navigators navigate into port
In the marine insurance world, Navigators Group needs no introduction. As part of a global expansion project of the insurance company, a foothold in the port of Rotterdam is an obvious move.
Navigators Group Inc. is a US-based company with quite a long history in Europe. In addition to its numerous offices across the continent, they have a wealth of history in underwriting business in the Netherlands, and especially in Rotterdam. Navigators’ core business in Rotterdam is in the marine sector.
“Rotterdam is a market place that we understand”, explains Colin Sprott, president of Navigators’ global marine unit. “For us, therefore, it’s the obvious place to be. There are also lots of good people in the market. There are a number of business lines that we underwrite and the Rotterdam market covers a lot of them. We fit the market perfectly. But there’s more. In our experience Rotterdam is a very nice place, with great infrastructure. Local expertise and history of the market is also excellent. We feel comfortable that it is a perfect place for us to grow our business.”
Navigators is working on a big geographical expansion project, explains Mr. Sprott. “We see Rotterdam as the core base for our continental European marine business. We aim to become one of the top five in the marine co-insurance market.”
Although Navigators had a number of preferred suppliers from its parent company in the US, which initially had to be used for first contacts with service providers, the support from Rotterdam Partners was very helpful. “Rotterdam Partners can help us grow through their very big network.”