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KBW analyst puts Navigators on "Best Ideas List"

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April 28, 2008

NEW YORK—A Keefe, Bruyette & Woods analyst placed Navigators Group Inc.'s shares on a list of recommended stocks on Monday, saying the insurer's profit outlook is excellent.

KBW analyst Dean Evans put Navigators on his Best Ideas List. He rates the shares "Outperform."

Navigators' shares are down 20 percent this year, but Evans said the company's future looks good. Based in New York, Navigators writes insurance for a number of risks, including policies protecting boats.

Though Navigators faces competition and its attendant drag on premium prices, Evans said the profit outlook for the company is excellent.

He said the reserves Navigators has set aside preparing to pay claims are probably too big, meaning the company will be able to free up some of the cash from those reserves and book them as profit.

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