Summary of Consolidated Investments-Other Than Investments in Related Parties

12 Months Ended

Dec. 31, 2018

THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

Summary of Consolidated Investments -

Other than Investments in Related Parties

	December 31, 2018
					Amount At
			Amortized		Which Shown
amounts in thousands	Fair Value⁽¹⁾		Cost / Cost		on Balance Sheet
Fixed Maturities:
U.S. Treasury Bonds, Agency Bonds and Foreign Government Bonds	$	239,776	$	242,832	$	239,776
States, Municipalities and Political Subdivisions		646,551		639,265		646,551
Mortgage-Backed and Asset-Backed Securities:
Agency Mortgage-Backed Securities		335,542		347,817		335,542
Residential Mortgage Obligations		138,373		138,299		138,373
Asset-Backed Securities		531,991		539,013		531,991
Commercial Mortgage-Backed Securities		188,201		190,159		188,201
Subtotal	$	1,194,107	$	1,215,288	$	1,194,107
Corporate Exposures⁽²⁾		1,002,489		1,028,028		1,002,489
Total Fixed Maturities	$	3,082,923	$	3,125,413	$	3,082,923
Other Invested Assets		48,406		48,549		48,406
Equity Securities:
Common Stocks		166,353		177,599		166,353
Preferred Stocks		173,539		183,819		173,539
Total Equity Securities	$	339,892	$	361,418	$	339,892
Short-Term Investments		10,233		10,234		10,233
Total Investments	$	3,481,454	$	3,545,614	$	3,481,454

(1) Other invested assets are accounted for using the equity method of accounting. All other investments are shown at fair value.

(2) Corporate Exposures consist of investments in corporate bonds, hybrid bonds and redeemable preferred stocks.