Navigators Group reported declines in marine underwriting profit in the second quarter despite improvements in its gross written premiums.
The Stamford-based insurer an underwriting profit of $5.38m for its US marine insurance business, down $5.78m in the same period of 2015. In the international space, marine underwriting profit slipped 17.9% to $2.02m.
The slump came even as gross written premiums jumped 10.5%
