Navigators Names Paul Malvasio Executive VP

October 24, 2003

The Navigators Group, Inc. announced that Paul Malvasio has joined the Company as Executive Vice President – Finance and Planning, responsible for evaluating and enhancing the financial management functions of the Company, including organization and capital allocation.

Malvasio most recently served as President and CFO of CORE Insurance Holdings, Inc. Previously he held the positions of CFO of NAC Re, Inc. and Risk Capital Re, Inc. Prior to entering the insurance industry, he was an audit partner with Coopers & Lybrand, specializing in the property/casualty insurance industry.

Navigators CEO Stan Galanski commented, “Paul Malvasio is an important addition to our executive team. The breadth and depth of his experience will enhance our corporate financial management capabilities, at a time when we have significantly expanded both our capital base and our book of business. He will help develop a culture of excellence and best practice in all areas of financial management.”

The bulletin also noted that “Brad Wiley will continue as Chief Financial Officer of The Navigators Group, Inc.”

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