Exhibit 99.1

The Navigators Group, Inc.

CORPORATE NEWS

Navigators Reports Fourth Quarter Earnings

New York – February 13, 2013 — The Navigators Group, Inc. (NASDAQ:NAVG) reported net income of $28.0 million, or $1.96 per diluted share, for the three months ended December 31, 2012 compared to $10.1 million, or $0.70 per diluted share, for the comparable period in 2011. Operating earnings were $8.5 million, or $0.59 per diluted share, for the fourth quarter of 2012 compared to operating earnings of $5.8 million, or $0.41 per diluted share, for the comparable period in 2011.

For the twelve months ended December 31, 2012, the Company reported net income of $63.8 million, or $4.45 per diluted share, compared to $25.6 million, or $1.69 per diluted share, for the comparable period in 2011. Operating earnings were $37.6 million, or $2.63 per diluted share, for the twelve months ended December 31, 2012 compared to $19.1 million, or $1.26 per diluted share, for the comparable period in 2011.

Gross written premiums and net written premiums for the three months ended December 31, 2012 were $321.6 million and $212.3 million, respectively, an increase of 15.7% and 5.1% from the comparable period in 2011. Gross written premiums and net written premiums for the twelve months ended December 31, 2012 were $1,286.5 million and $833.7 million, respectively, an increase of 16.1% and 10.6% from the comparable period in 2011.

The combined loss and expense ratios for the three and twelve months ended December 31, 2012 were 100.2% and 99.3%, respectively, compared to 102.5% and 104.7% for the comparable periods in 2011. The current quarter includes net reserve releases of $28.0 million from our Lloyd’s Operations, most notably from our Lloyd’s Marine business in connection with favorable settlement of several large losses and the continued favorable loss emergence for underwriting years 2010 and prior. The current quarter also includes a net loss from Superstorm Sandy of $20.4 million, inclusive of $8.3 million in reinsurance reinstatement premiums.

Stan Galanski, President and Chief Executive Officer, commented, “In a year that began with the grounding of the Costa Concordia and concluded with Superstorm Sandy, we are pleased to have achieved profitable underwriting results. Our results were driven by an exceptionally strong performance at Lloyd’s, where favorable loss emergence contributed to their best combined ratio since acquiring the Lloyd’s operation in 1998”.

Stockholders’ equity was $879.5 million, or $62.61 per share, as of December 31, 2012 compared to $803.4 million, or $57.57 per share, as of December 31, 2011.

Net investment income for the three and twelve months ended December 31, 2012 was $13.6 million and $54.2 million, respectively, an increase of 9.6% for the three months ended December 31, 2012 and a decrease of 14.6% for the twelve months ended December 31, 2012. Investment income for the twelve months ended December 31, 2012 and 2011 was reduced by $4.5 million and $4.7 million, respectively, for a total of $9.2 million as a result of the settlement of a dispute with Equitas over foregone interest on

amounts that were due on certain reinsurance contracts. The annualized pre-tax investment yield, excluding net realized gains and losses and net other-than-temporary impairment losses recognized in earnings, for the three and twelve months ended December 31, 2012 was 2.3% and 2.4%, respectively, compared to 2.3% and 3.0% for the comparable periods in 2011. The effective tax rate on net investment income was 26.7% and 26.8% for the three and twelve months ended December 31, 2012, compared to 23.6% and 27.6% for the comparable periods in 2011.

6 International Drive TEL (914) 933-6000 Rye Brook, NY 10573 FAX (914) 934-2355

News Release

February 13, 2013

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The Company’s investment portfolio mainly consists of fixed income securities with an average quality rating of “AA/Aa” as defined by Standard & Poor’s and Moody’s, respectively, and an average effective duration of 3.6 years as of December 31, 2012. As of December 31, 2012, net unrealized gains within our investment portfolio were $103.3 million, an increase of $9.7 million compared to December 31, 2011. There were $30.0 million and $40.2 million of net realized gains including other-than-temporary impairment losses recognized in earnings for the three and twelve months ended December 31, 2012, respectively, compared to $6.6 million and $10.0 million for the same periods in 2011.

Consolidated net cash flow from operations for the three and twelve months ended December 31, 2012 were $27.6 million and $96.7 million, respectively, compared to $32.0 million and $118.3 million for the comparable periods in 2011.

The Company will hold a conference call on Thursday, February 14, 2013 starting at 8:30 a.m. ET to discuss the 2012 fourth quarter results. The call will be available via live webcast on Navigators’ website (www.navg.com).

To participate by telephone, the domestic dial-in number is (800) 850-2903 and the international dial-in is (224) 357-2399. Participants may connect to the webcast at:

http://investor.shareholder.com/navg/eventdetail.cfm?eventid=123733

Operating earnings, or net income excluding after-tax net realized gains (losses) and net other-than-temporary impairment losses recognized in earnings, is a non-GAAP financial measure that is a common performance measurement for insurance companies. We believe this presentation enhances the understanding of our results of operations by highlighting the underlying profitability of our insurance business.

The Navigators Group, Inc. is an international specialty insurance holding company with insurance company operations, underwriting management companies, and operations at Lloyd’s of London. Headquartered in New York, Navigators has offices in major insurance centers in the United States, the United Kingdom and Continental Europe.

This press release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Whenever used in this release, the words “estimate”, “expect”, “believe” or similar expressions are intended to identify such forward-looking statements. Forward-looking statements are derived from information that we currently have and assumptions that we make. We cannot assure that results that we anticipate will be achieved, since results may differ materially because of known and unknown risks and uncertainties that we face. Please refer to Navigators’ most recent reports on Forms 10-K and 10-Q and its other filings with the Securities and Exchange Commission for a description of Navigators’ business and the important factors that may affect that business. Navigators’ undertakes no obligation to publicly update or revise any forward-looking statement.

Contact: Ciro M. DeFalco

Senior Vice President and Chief Financial Officer

(914) 933-6043

cdefalco@navg.com

www.navg.com

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

Financial Highlights

($ in thousands, except share and per share data)

(unaudited)

	Three Months Ended									Twelve Months Ended
	December 31,									December 31,
Results of Operations	2012			2011			Change			2012			2011			Change
Gross written premiums	$	321,587		$	277,901			15.7	%	$	1,286,465		$	1,108,216			16.1	%
Net written premiums		212,312			202,002			5.1	%		833,655			753,798			10.6	%
Revenues:
Net earned premiums		201,566			191,757			5.1	%		781,964			691,645			13.1	%
Net investment income		13,616			12,428			9.6	%		54,248			63,500			-14.6	%
Total other-than-temporary impairment losses		(208	)		(1,280	)		-83.8	%		(902	)		(3,617	)		-75.1	%
Portion of loss recognized in other comprehensive income (before tax)		—			691			NM			44			1,632			-97.3	%
Net other-than-temporary impairment losses recognized in earnings		(208	)		(589	)		-64.7	%		(858	)		(1,985	)		-56.8	%
Net realized gains (losses)		30,254			7,141			NM			41,074			11,996			NM
Other income		(599	)		586			NM			1,488			1,229			21.1	%
Total revenues		244,629			211,323			15.8	%		877,916			766,385			14.6	%
Expenses:
Net losses and loss adjustment expenses		127,191			136,104			-6.5	%		497,433			476,997			4.3	%
Commission expenses		31,259			30,273			3.3	%		121,470			110,437			10.0	%
Other operating expenses		42,841			30,688			39.6	%		159,079			138,029			15.3	%
Interest expense		2,051			2,048			0.1	%		8,198			8,188			0.1	%
Total expenses		203,342			199,113			2.1	%		786,180			733,651			7.2	%
Income before income taxes		41,287			12,210			NM			91,736			32,734			NM
Income tax expense (benefit)		13,243			2,122			NM			27,974			7,137			NM
Net income (loss)	$	28,044		$	10,088			NM		$	63,762		$	25,597			149.1	%
Per Share Data
Net income per common share:
Basic	$	2.00		$	0.71			NM		$	4.54		$	1.71			NM
Diluted	$	1.96		$	0.70			NM		$	4.45		$	1.69			NM
Average common shares outstanding:
Basic		14,042,553			14,199,491						14,052,311			14,980,429
Diluted		14,340,057			14,380,161						14,327,820			15,183,285
Underwriting Ratios
Loss Ratio		63.1	%		71.0	%					63.6	%		69.0	%
Expense Ratio		37.1	%		31.5	%					35.7	%		35.7	%
Combined Ratio		100.2	%		102.5	%					99.3	%		104.7	%
Balance Sheet Data	Dec. 31, 2012			Sept. 30, 2012						Dec. 31, 2012			Dec. 31, 2011
Stockholders’ equity	$	879,485		$	874,811			0.5	%	$	879,485		$	803,435			9.5	%
Book value per share	$	62.61		$	62.32			0.5	%	$	62.61		$	57.57			8.8	%

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

($ in thousands, except share data)

	December 31,			December 31,
	2012			2011
	(unaudited)
ASSETS
Investments and cash:
Fixed maturities, available-for-sale, at fair value (amortized cost: 2012, $2,034,765; 2011, $1,816,710)	$	2,121,833		$	1,888,069
Equity securities, available-for-sale, at fair value (cost: 2012, $85,004; 2011, $73,567)		101,297			95,849
Short-term investments, at cost which approximates fair value		153,788			122,220
Cash		45,336			127,360
Total investments and cash		2,422,254			2,233,498
Premiums receivable		320,182			255,725
Prepaid reinsurance premiums		221,015			164,162
Reinsurance recoverable on paid losses		49,282			43,791
Reinsurance recoverable on unpaid losses and loss adjustment expenses		880,139			845,445
Deferred policy acquisition costs		61,005			63,984
Accrued investment income		12,587			14,492
Goodwill and other intangible assets		7,093			6,869
Current income tax receivable, net		—			15,391
Deferred income tax, net		3,216			—
Receivable for investments sold		4,310			2,583
Other assets		26,587			26,650
Total assets	$	4,007,670		$	3,672,590
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Reserves for losses and loss adjustment expenses	$	2,097,048		$	2,082,679
Unearned premiums		642,407			532,628
Reinsurance balances payable		165,813			108,699
Senior notes		114,424			114,276
Current income tax payable, net		2,133			—
Deferred income tax, net		—			6,291
Payable for investments purchased		58,345			74
Accounts payable and other liabilities		48,015			24,508
Total liabilities		3,128,185			2,869,155
Stockholders’ equity:
Preferred stock, $.10 par value, authorized 1,000,000 shares, none issued		—			—
Common stock, $.10 par value, authorized 50,000,000 shares, issued 17,558,046 shares for 2012 and 17,467,615 shares for 2011		1,755			1,746
Additional paid-in capital		329,452			322,133
Treasury stock, at cost (3,511,380 shares for 2012 and 2011)		(155,801	)		(155,801	)
Retained earnings		628,871			565,109
Accumulated other comprehensive income		75,208			70,248
Total stockholders’ equity		879,485			803,435
Total liabilities and stockholders’ equity	$	4,007,670		$	3,672,590

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

Comparative Premium Data

($ in thousands)

	Three Months							Twelve Months
	2012		2011		Change			2012		2011		Change
Gross Written Premiums:
Insurance Companies:
Marine	$	43,455	$	52,688		-17.5	%	$	200,095	$	228,500		-12.4	%
Property Casualty		164,247		121,293		35.4	%		590,741		445,287		32.7	%
Professional Liability		32,860		29,720		10.6	%		130,489		114,632		13.8	%
		240,562		203,701		18.1	%		921,325		788,419		16.9	%
Lloyd’s Operations:
Marine		47,895		39,977		19.8	%		194,423		167,562		16.0	%
Property Casualty		20,965		24,032		-12.8	%		127,028		115,138		10.3	%
Professional Liability		12,165		10,191		19.4	%		43,689		37,097		17.8	%
		81,025		74,200		9.2	%		365,140		319,797		14.2	%
Total	$	321,587	$	277,901		15.7	%	$	1,286,465	$	1,108,216		16.1	%

	Three Months							Twelve Months
	2012		2011		Change			2012		2011		Change
Net Written Premiums:
Insurance Companies:
Marine	$	25,944	$	40,442		-35.8	%	$	133,210	$	170,642		-21.9	%
Property Casualty		115,345		91,780		25.7	%		390,168		293,758		32.8	%
Professional Liability		24,204		20,933		15.6	%		99,578		77,991		27.7	%
		165,493		153,155		8.1	%		622,956		542,391		14.9	%
Lloyd’s Operations:
Marine		34,111		34,844		-2.1	%		143,600		137,206		4.7	%
Property Casualty		7,131		8,885		-19.7	%		43,824		56,249		-22.1	%
Professional Liability		5,577		5,118		9.0	%		23,275		17,952		29.7	%
		46,819		48,847		-4.2	%		210,699		211,407		-0.3	%
Total	$	212,312	$	202,002		5.1	%	$	833,655	$	753,798		10.6	%

	Three Months							Twelve Months
	2012		2011		Change			2012		2011		Change
Net Earned Premiums:
Insurance Companies:
Marine	$	30,779	$	44,631		-31.0	%	$	142,181	$	169,018		-15.9	%
Property Casualty		92,246		74,426		23.9	%		332,782		231,297		43.9	%
Professional Liability		26,199		20,267		29.3	%		96,476		72,148		33.7	%
		149,224		139,324		7.1	%		571,439		472,463		20.9	%
Lloyd’s Operations:
Marine		35,360		36,437		-3.0	%		136,898		145,659		-6.0	%
Property Casualty		11,307		11,798		-4.2	%		52,951		55,903		-5.3	%
Professional Liability		5,675		4,198		35.2	%		20,676		17,620		17.3	%
		52,342		52,433		-0.2	%		210,525		219,182		-3.9	%
Total	$	201,566	$	191,757		5.1	%	$	781,964	$	691,645		13.1	%

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

Segment Information

Three Months Ended

December 31, 2012

($ in thousands)

	Insurance			Lloyd’s
	Companies			Operations			Corporate  (1)			Total
Gross written premiums	$	240,562		$	81,025		$	—		$	321,587
Net written premiums		165,493			46,819			—			212,312
Net earned premiums		149,224			52,342			—			201,566
Net losses and loss adjustment expenses		(112,599	)		(14,592	)		—			(127,191	)
Commission expenses		(20,125	)		(11,714	)		580			(31,259	)
Other operating expenses		(29,979	)		(12,862	)		—			(42,841	)
Other income (expense)		40			(59	)		(580	)		(599	)
Underwriting profit (loss)		(13,439	)		13,115			—			(324	)
Net investment income		12,324			1,262			30			13,616
Net realized gains (losses)		29,659			194			193			30,046
Interest expense		—			—			(2,051	)		(2,051	)
Income (loss) before income taxes		28,544			14,571			(1,828	)		41,287
Income tax expense (benefit)		9,083			5,162			(1,002	)		13,243
Net income (loss)	$	19,461		$	9,409		$	(826	)	$	28,044
Losses and loss adjustment expenses ratio		75.5	%		27.9	%					63.1	%
Commission expense ratio		13.5	%		22.4	%					15.5	%
Other operating expense ratio (2)		20.0	%		24.6	%					21.6	%
Combined ratio		109.0	%		74.9	%					100.2	%

(1) The Corporate segment includes intercompany eliminations.

(2) The Other operating expense ratio includes Other income (expense).

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

Segment Information

Three Months Ended

December 31, 2011

($ in thousands)

	Insurance			Lloyd’s
	Companies			Operations			Corporate  (1)			Total
Gross written premiums	$	203,701		$	74,200		$	—		$	277,901
Net written premiums		153,155			48,847			—			202,002
Net earned premiums		139,324			52,433			—			191,757
Net losses and loss adjustment expenses		(112,743	)		(23,361	)		—			(136,104	)
Commission expenses		(18,909	)		(11,939	)		575			(30,273	)
Other operating expenses		(22,467	)		(8,221	)		—			(30,688	)
Other income (expense)		1,084			77			(575	)		586
Underwriting profit (loss)		(13,711	)		8,989			—			(4,722	)
Net investment income		10,155			2,222			51			12,428
Net realized gains (losses)		6,487			55			10			6,552
Interest expense		—			—			(2,048	)		(2,048	)
Income (loss) before income taxes		2,931			11,266			(1,987	)		12,210
Income tax expense (benefit)		(953	)		3,770			(695	)		2,122
Net income (loss)	$	3,884		$	7,496		$	(1,292	)	$	10,088
Losses and loss adjustment expenses ratio		80.9	%		44.6	%					71.0	%
Commission expense ratio		13.6	%		22.8	%					15.8	%
Other operating expense ratio (2)		15.3	%		15.5	%					15.7	%
Combined ratio		109.8	%		82.9	%					102.5	%

(1) The Corporate segment includes intercompany eliminations.

(2) The Other operating expense ratio includes Other income (expense).

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

Segment Information

Twelve Months Ended

December 31, 2012

($ in thousands)

	Insurance			Lloyd’s
	Companies			Operations			Corporate  (1)			Total
Gross written premiums	$	921,325		$	365,140		$	—		$	1,286,465
Net written premiums		622,956			210,699			—			833,655
Net earned premiums		571,439			210,525			—			781,964
Net losses and loss adjustment expenses		(417,082	)		(80,351	)		—			(497,433	)
Commission expenses		(81,370	)		(42,449	)		2,349			(121,470	)
Other operating expenses		(113,625	)		(45,454	)		—			(159,079	)
Other income (expense)		3,790			47			(2,349	)		1,488
Underwriting profit (loss)		(36,848	)		42,318			—			5,470
Net investment income		46,549			7,551			148			54,248
Net realized gains (losses)		36,468			3,555			193			40,216
Interest expense		—			—			(8,198	)		(8,198	)
Income (loss) before income taxes		46,169			53,424			(7,857	)		91,736
Income tax expense (benefit)		12,686			18,620			(3,332	)		27,974
Net income (loss)	$	33,483		$	34,804		$	(4,525	)	$	63,762
Losses and loss adjustment expenses ratio		73.0	%		38.2	%					63.6	%
Commission expense ratio		14.2	%		20.2	%					15.5	%
Other operating expense ratio (2)		19.2	%		21.5	%					20.2	%
Combined ratio		106.4	%		79.9	%					99.3	%

(1) The Corporate segment includes intercompany eliminations.

(2) The Other operating expense ratio includes Other income (expense).

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

Segment Information

Twelve Months Ended

December 31, 2011

($ in thousands)

	Insurance			Lloyd’s
	Companies			Operations			Corporate  (1)			Total
Gross written premiums	$	788,419		$	319,797		$	—		$	1,108,216
Net written premiums		542,391			211,407			—			753,798
Net earned premiums		472,463			219,182			—			691,645
Net losses and loss adjustment expenses		(341,625	)		(135,372	)		—			(476,997	)
Commission expenses		(64,165	)		(48,341	)		2,069			(110,437	)
Other operating expenses		(101,517	)		(36,512	)		—			(138,029	)
Other income (expense)		3,955			(657	)		(2,069	)		1,229
Underwriting profit (loss)		(30,889	)		(1,700	)		—			(32,589	)
Net investment income		54,164			8,955			381			63,500
Net realized gains (losses)		12,151			(2,354	)		214			10,011
Interest expense		—			—			(8,188	)		(8,188	)
Income (loss) before income taxes		35,426			4,901			(7,593	)		32,734
Income tax expense (benefit)		8,271			1,523			(2,657	)		7,137
Net income (loss)	$	27,155		$	3,378		$	(4,936	)	$	25,597
Losses and loss adjustment expenses ratio		72.3	%		61.8	%					69.0	%
Commission expense ratio		13.6	%		22.1	%					16.0	%
Other operating expense ratio (2)		20.6	%		16.9	%					19.7	%
Combined ratio		106.5	%		100.8	%					104.7	%

(1) The Corporate segment includes intercompany eliminations.

(2) The Other operating expense ratio includes Other income (expense).

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

Underwriting Results

($ in thousands)

	Three Months Ended December 31, 2012
	Net		Losses
	Earned		and LAE		Underwriting		Underwriting			Loss			Expense			Combined
	Premiums		Incurred		Expenses		Profit (Loss)			Ratio			Ratio			Ratio
Insurance Companies:
Marine	$	30,779	$	22,879	$	15,048	$	(7,148	)		74.3	%		48.9	%		123.2	%
Property Casualty		92,246		70,394		25,535		(3,683	)		76.3	%		27.7	%		104.0	%
Professional Liability		26,199		19,326		9,481		(2,608	)		73.8	%		36.2	%		110.0	%
Total Insurance Companies		149,224		112,599		50,064		(13,439	)		75.5	%		33.5	%		109.0	%
Lloyd’s Operations:
Marine		35,360		5,892		16,523		12,945			16.7	%		46.7	%		63.4	%
Property Casualty		11,307		6,476		5,609		(778	)		57.3	%		49.6	%		106.9	%
Professional Liability		5,675		2,224		2,503		948			39.2	%		44.1	%		83.3	%
Total Lloyd’s		52,342		14,592		24,635		13,115			27.9	%		47.0	%		74.9	%
Total All	$	201,566	$	127,191	$	74,699	$	(324	)		63.1	%		37.1	%		100.2	%

	Three Months Ended December 31, 2011
	Net Earned Premiums		Losses and LAE Incurred		Underwriting Expenses		Underwriting Profit (Loss)			Loss Ratio			Expense Ratio			Combined Ratio
Insurance Companies:
Marine	$	44,631	$	28,321	$	13,537	$	2,773			63.5	%		30.3	%		93.8	%
Property Casualty		74,426		41,297		20,227		12,902			55.5	%		27.2	%		82.7	%
Professional Liability		20,267		43,125		6,528		(29,386	)		212.8	%		32.2	%		245.0	%
Total Insurance Companies		139,324		112,743		40,292		(13,711	)		80.9	%		28.9	%		109.8	%
Lloyd’s Operations:
Marine		36,437		14,089		14,024		8,324			38.7	%		38.5	%		77.2	%
Property Casualty		11,798		4,232		4,466		3,100			35.9	%		37.8	%		73.7	%
Professional Liability		4,198		5,040		1,593		(2,435	)		120.1	%		37.9	%		158.0	%
Total Lloyd’s		52,433		23,361		20,083		8,989			44.6	%		38.3	%		82.9	%
Total All	$	191,757	$	136,104	$	60,375	$	(4,722	)		71.0	%		31.5	%		102.5	%

	Amounts						Loss Ratio
	Dec. 31,			Dec. 31,			Dec. 31,			Dec. 31,
	2012			2011			2012			2011
Net Incurred Loss Activity For the Three Months Ended:
Insurance Companies:
Loss and LAE payments	$	120,293		$	70,377			80.7	%		50.5	%
Change in reserves		(7,694	)		42,366			-5.2	%		30.4	%
Net incurred loss and LAE		112,599			112,743			75.5	%		80.9	%
Lloyd’s Operations:
Loss and LAE payments		35,341			29,656			67.5	%		56.6	%
Change in reserves		(20,749	)		(6,295	)		-39.6	%		-12.0	%
Net incurred loss and LAE		14,592			23,361			27.9	%		44.6	%
Total
Loss and LAE payments		155,634			100,033			77.2	%		52.2	%
Change in reserves		(28,443	)		36,071			-14.1	%		18.8	%
Net incurred loss and LAE	$	127,191		$	136,104			63.1	%		71.0	%

	Amounts						Loss Ratio Impact
	Dec. 31,			Dec. 31,			Dec. 31,			Dec. 31,
	2012			2011			2012			2011
Impact of Prior Years Reserves Favorable / (Unfavorable) Development For the Three Months Ended:
Insurance Companies	$	(379	)	$	(13,161	)		-0.2	%		-6.9	%
Lloyd’s Operations		27,955			13,651			13.9	%		7.2	%
Total	$	27,576		$	490			13.7	%		0.3	%

News Release

Page 11

THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

Underwriting Results

($ in thousands)

	Twelve Months Ended December 31, 2012
	Net		Losses
	Earned		and LAE		Underwriting		Underwriting			Loss			Expense			Combined
	Premiums		Incurred		Expenses		Profit (Loss)			Ratio			Ratio			Ratio
Insurance Companies:
Marine	$	142,181	$	110,119	$	55,419	$	(23,357	)		77.4	%		39.0	%		116.4	%
Property Casualty		332,782		235,740		100,770		(3,728	)		70.8	%		30.3	%		101.1	%
Professional Liability		96,476		71,223		35,016		(9,763	)		73.8	%		36.3	%		110.1	%
Total Insurance Companies		571,439		417,082		191,205		(36,848	)		73.0	%		33.4	%		106.4	%
Lloyd’s Operations:
Marine		136,898		51,116		59,110		26,672			37.3	%		43.2	%		80.5	%
Property Casualty		52,951		23,689		20,030		9,232			44.7	%		37.9	%		82.6	%
Professional Liability		20,676		5,546		8,716		6,414			26.8	%		42.2	%		69.0	%
Total Lloyd’s		210,525		80,351		87,856		42,318			38.2	%		41.7	%		79.9	%
Total All	$	781,964	$	497,433	$	279,061	$	5,470			63.6	%		35.7	%		99.3	%

	Twelve Months Ended December 31, 2011
	Net		Losses
	Earned		and LAE		Underwriting		Underwriting			Loss			Expense			Combined
	Premiums		Incurred		Expenses		Profit (Loss)			Ratio			Ratio			Ratio
Insurance Companies:
Marine	$	169,018	$	111,209	$	57,471	$	338			65.8	%		34.0	%		99.8	%
Property Casualty		231,297		151,934		77,889		1,474			65.7	%		33.7	%		99.4	%
Professional Liability		72,148		78,482		26,367		(32,701	)		108.8	%		36.5	%		145.3	%
Total Insurance Companies		472,463		341,625		161,727		(30,889	)		72.3	%		34.2	%		106.5	%
Lloyd’s Operations:
Marine		145,659		87,328		57,805		526			60.0	%		39.6	%		99.6	%
Property Casualty		55,903		27,208		20,186		8,509			48.7	%		36.1	%		84.8	%
Professional Liability		17,620		20,836		7,519		(10,735	)		118.3	%		42.6	%		160.9	%
Total Lloyd’s		219,182		135,372		85,510		(1,700	)		61.8	%		39.0	%		100.8	%
Total All	$	691,645	$	476,997	$	247,237	$	(32,589	)		69.0	%		35.7	%		104.7	%

	Amounts					Loss Ratio
	Dec. 31,			Dec. 31,		Dec. 31,			Dec. 31,
	2012			2011		2012			2011
Net Incurred Loss Activity For the Twelve Months Ended:
Insurance Companies:
Loss and LAE payments	$	403,113		$	277,823		70.6	%		58.8	%
Change in reserves		13,969			63,802		2.4	%		13.5	%
Net incurred loss and LAE		417,082			341,625		73.0	%		72.3	%
Lloyd’s Operations:
Loss and LAE payments		114,645			104,482		54.5	%		47.7	%
Change in reserves		(34,294	)		30,890		-16.3	%		14.1	%
Net incurred loss and LAE		80,351			135,372		38.2	%		61.8	%
Total
Loss and LAE payments		517,758			382,305		66.2	%		55.3	%
Change in reserves		(20,325	)		94,692		-2.6	%		13.7	%
Net incurred loss and LAE	$	497,433		$	476,997		63.6	%		69.0	%

	Amounts						Loss Ratio Impact
	Dec. 31,			Dec. 31,			Dec. 31,			Dec. 31,
	2012			2011			2012			2011
Impact of Prior Years Reserves Favorable / (Unfavorable) Development For the Twelve Months Ended:
Insurance Companies	$	(1,896	)	$	(12,102	)		-0.2	%		-1.7	%
Lloyd’s Operations		47,187			9,957			6.0	%		1.4	%
Total	$	45,291		$	(2,145	)		5.8	%		-0.3	%

News Release

Page 12

THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

Net Loss Data

($ in thousands)

	Case		IBNR
	Reserves		Reserves		Total
Net Loss Reserves, December 31, 2012:
Insurance Companies:
Marine	$	137,934	$	114,236	$	252,170
Property Casualty		204,988		290,455		495,443
Professional Liability		54,092		84,493		138,585
Total Insurance Companies		397,014		489,184		886,198
Lloyd’s Operations:
Marine		125,884		95,122		221,006
Property Casualty		27,903		28,463		56,366
Professional Liability		14,694		38,645		53,339
Total Lloyd’s Operations		168,481		162,230		330,711
Total Net Loss Reserves	$	565,495	$	651,414	$	1,216,909

	Case		IBNR
	Reserves		Reserves		Total
Net Loss Reserves, December 31, 2011:
Insurance Companies:
Marine	$	127,912	$	121,875	$	249,787
Property Casualty		185,822		296,177		481,999
Professional Liability		56,953		83,490		140,443
Total Insurance Companies		370,687		501,542		872,229
Lloyd’s Operations:
Marine		117,448		123,136		240,584
Property Casualty		37,877		25,846		63,723
Professional Liability		13,580		47,118		60,698
Total Lloyd’s Operations		168,905		196,100		365,005
Total Net Loss Reserves	$	539,592	$	697,642	$	1,237,234

News Release

Page 13

THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

Investment Data

December 31, 2012

As of December 31, 2012, the average quality of the investment portfolio as rated by S&P and Moody’s was AA/Aa with an average duration of 3.6 years. The Company does not own any collateralized debt obligations (CDO’s), collateralized loan obligations (CLO’s) or asset backed commercial paper.

As of December 31, 2012, the Company owned two asset-backed securities approximating $0.7 million with subprime mortgage exposures. The securities have an effective maturity of 3.2 years. In addition, the Company owned a total of seven collateralized mortgage obligations and asset-backed securities approximating $2.1 million classified as Alt-A which is a credit category between prime and subprime. They have an effective maturity of 6.2 years. Such subprime and Alt-A categories are as defined by S&P. The Company is receiving principal and/or interest payments on all these securities and believes such amounts are fully collectible.

The following table sets forth our cash and investments as of December 31, 2012:

			Gross		Gross			Cost or		OTTI
	Fair		Unrealized		Unrealized			Amortized		Recognized
December 31, 2012	Value		Gains		(Losses)			Cost		in OCI
	($ in thousands)
Fixed maturities:
U.S.Treasury bonds, agency bonds and foreign government bonds	$	649,692	$	8,654	$	(36	)	$	641,074	$	—
States, municipalities and political subdivisions		322,947		18,712		(380	)		304,615		—
Mortgage- and asset-backed securities:
Agency mortgage-backed securities		384,445		13,652		(204	)		370,997		—
Residential mortgage obligations		38,692		1,053		(549	)		38,188		20
Asset-backed securities		50,382		1,133		(49	)		49,298		—
Commercial mortgage-backed securities		204,821		17,996		(18	)		186,843		—
Subtotal		678,340		33,834		(820	)		645,326		20
Corporate bonds		470,854		27,129		(25	)		443,750		—
Total fixed maturities		2,121,833		88,329		(1,261	)		2,034,765		20
Equity securities—common stocks		101,297		16,919		(626	)		85,004		—
Short-term investments		153,788		—		—			153,788		—
Cash		45,336		—		—			45,336		—
Total	$	2,422,254	$	105,248	$	(1,887	)	$	2,318,893	$	20

News Release

Page 14

THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

Investment Data

December 31, 2012

($ in thousands)

The following tables set forth our agency mortgage-backed securities and residential mortgage obligations, categorized by those issued by GNMA, FNMA and FHLMC and the quality category (prime, Alt-A and subprime) for all other such investments at December 31, 2012:

	Fair Value		Gross Unrealized Gains		Gross Unrealized (Losses)			Cost or Amortized Cost
Agency mortgage-backed securities:
GNMA	$	132,595	$	4,657	$	(198	)	$	128,136
FNMA		193,901		7,230		(6	)		186,677
FHLMC		57,949		1,765		—			56,184
Total	$	384,445	$	13,652	$	(204	)	$	370,997

			Gross		Gross			Cost or
	Fair		Unrealized		Unrealized			Amortized
	Value		Gains		(Losses)			Cost
Residential mortgage obligations:
Prime	$	12,492	$	217	$	(440	)	$	12,715
Alt-A		2,119		40		(109	)		2,188
Subprime		699		26		—			673
Non-US RMBS		23,382		770		—			22,612
Total	$	38,692	$	1,053	$	(549	)	$	38,188