Exhibit 99.1

The Navigators Group, Inc.
CORPORATE NEWS

Navigators Reports Second Quarter Earnings

New York — August 4 , 2011 — The Navigators Group, Inc. (NASDAQ:NAVG) reported net income of $9.5 million, or $0.60 per diluted share, for the three months ended June 30, 2011 compared to net income of $19.0 million, or $1.16 per diluted share, for the comparable period in 2010. Operating earnings ⁽¹⁾ were $8.0 million, or $0.51 per diluted share for the second quarter of 2011 compared to earnings of $11.9 million, or $0.73 per diluted share, for the comparable period in 2010.

For the six months ended June 30, 2011, the Company reported net income of $1.6 million, or $0.10 per diluted share, compared to $36.0 million, or $2.16 per diluted share, for the comparable period in 2010. Operating earnings were $1.2 million, or $0.08 per diluted share for the six months ended June 30, 2011 compared to $25.0 million, or $1.50 per diluted share, for the comparable period in 2010.

Gross written premiums and net written premiums for the three months ended June 30, 2011 were $278.7 million and $183.4 million, respectively, an increase of 9.9% and 11.1%, respectively, from the comparable period in 2010. Gross written premiums and net written premiums for the six months ended June 30, 2011 were $575.0 million and $376.4 million, respectively, an increase of 9.8% and 6.2%, respectively, from the comparable period in 2010.

The combined loss and expense ratio for the three and six months ended June 30, 2011 were 101.9% and 109.0%, respectively, compared to 99.7% and 99.4% for the comparable periods in 2010.

Navigators’ Chief Executive Officer Stan Galanski commented: “Market conditions are very much in flux, with positive pricing trends evident on first-party and energy-related risks but continued competitive pressure on pricing for most casualty products. We encourage our underwriters to focus on profitability and to walk away from business when they can’t achieve their pricing and terms. Our double digit growth for the quarter came from three units targeted for growth in 2011: NavTech, Excess Casualty and Navigators Re. Conversely, we continue to take a cautious view of the U.S. D&O and primary casualty markets, for which excess capacity has led to ongoing soft market conditions. We continue to emphasize prudent expense management while making investments in infrastructure to enhance productivity and our competitive position in the future. We remain focused on effective capital management as accretive share repurchases during the second quarter contributed to our book value per share growth of 4%.”

During the three and six months ended June 30, 2011, the Company repurchased 597,026 and 853,120 of its common stock for an aggregate purchase price of $28.4 million and $41.4 million, respectively, pursuant to its share repurchase program. The Company repurchased an additional 82,567 of its common stock for an aggregate purchase price of $4.0 million between July 1, 2011 and August 4, 2011 pursuant to its share repurchase program. Approximately $45.5 million remains available under the Company’s current share repurchase program which expires on December 31, 2011.

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

News Release
August 4, 2011
Page 2

Net investment income for the three and six months ended June 30, 2011 was $17.4 million and $34.8 million, which was a decrease of 2.4% and 2.8% from the comparable periods in 2010. The annualized pre-tax investment yield, excluding net realized gains and losses and net other-than-temporary impairment losses recognized in earnings, was 3.3% for both the three and six months ended June 30, 2011, compared to 3.6% and 3.5% for the comparable periods in 2010. The effective tax rate on net investment income was 28.7% and 28.6% for the three and six months ended June 30, 2011, compared to 27.2% and 25.9% for the comparable periods in 2010.

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 at June 30, 2011. At June 30, 2011, net unrealized gains within our investment portfolio were $74.6 million, an increase of $25.4 million compared to December 31, 2010. There were $2.5 million and $0.8 million of net realized gains and other-than-temporary impairment losses recognized in earnings for the three and six months ended June 30, 2011.

Consolidated cash flow from operations for the three and six months ended June 30, 2011 was $1.1 million and $14.4 million respectively, compared to $60.2 million and $64.4 million for the comparable period in 2010.

Stockholders’ equity was $817.9 million, or $54.44 per share, at June 30, 2011 compared to $829.4 million, or $52.68 per share, at December 31, 2010. The statutory surplus of Navigators Insurance Company was $676.5 million at June 30, 2011 compared to $686.9 million at December 31, 2010.

The Company will hold a conference call on Friday, August 5, 2011 starting at 8:30 a.m. ET to discuss the 2011 second 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=99013

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.

News Release
August 4, 2011
Page 3

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:		Francis W. McDonnell
		Senior Vice President and Chief Financial Officer
		(914) 933-6270
		fmcdonnell@navg.com
		www.navg.com

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
Financial Highlights
($ in thousands, except per share data)
(unaudited)

		Three Months Ended												Six Months Ended
		June 30,												June 30,
Results of Operations		2011				2010				Change				2011				2010				Change
Gross written premiums		$	278,714			$	253,568				9.9	%		$	574,997			$	523,713				9.8	%
Net written premiums			183,363				165,005				11.1	%			376,439				354,322				6.2	%
Revenues:
Net earned premiums			173,777				161,471				7.6	%			326,255				325,540				0.2	%
Commission income
Net investment income			17,429				17,853				-2.4	%			34,813				35,825				-2.8	%
Total other-than-temporary impairment losses			(833	)			(489	)		NM					(1,096	)			(740	)		NM
Portion of loss recognized in other comprehensive income (before tax)			301				334				-9.9	%			322				504				-36.1	%
Net other-than-temporary impairment losses recognized in earnings			(532	)			(155	)		NM					(774	)			(236	)		NM
Net realized gains (losses)			3,006				11,020				-72.7	%			1,618				17,133				-90.6	%
Other income			573				(899	)		NM					1,564				171			NM
Total revenues			194,253				189,290				2.6	%			363,476				378,433				-4.0	%
Expenses:
Net losses and loss adjustment expenses			113,863				99,863				14.0	%			230,651				203,670				13.2	%
Commission expenses			28,030				25,677				9.2	%			54,230				50,993				6.3	%
Other operating expenses			35,777				34,513				3.7	%			72,352				69,099				4.7	%
Interest expense			2,047				2,044				0.1	%			4,093				4,088				0.1	%
Total expenses			179,717				162,097				10.9	%			361,326				327,850				10.2	%
Income before income taxes			14,536				27,193				-46.5	%			2,150				50,583				-95.7	%
Income tax expense (benefit)			5,032				8,223				-38.8	%			539				14,568				-96.3	%
Net income (loss)		$	9,504			$	18,970				-49.9	%		$	1,611			$	36,015				-95.5	%
Per Share Data
Net income per common share:
Basic		$	0.62			$	1.18				-47.5	%		$	0.10			$	2.20				-95.3	%
Diluted		$	0.60			$	1.16				-47.7	%		$	0.10			$	2.16				-95.3	%
Average common shares outstanding:
Basic			15,373				16,100								15,555				16,369
Diluted			15,726				16,422								15,944				16,686
Underwriting Ratios
Loss Ratio			65.5	%			61.8	%							70.7	%			62.6	%
Expense Ratio			36.4	%			37.9	%							38.3	%			36.8	%
Combined Ratio			101.9	%			99.7	%							109.0	%			99.4	%

		June 30,				Mar. 31,								June 30,				Dec. 31,
Balance Sheet Data		2011				2011								2011				2010
Stockholders’ equity		$	817,919			$	815,172				0.3	%		$	817,919			$	829,354				-1.4	%
Book value per share		$	54.44			$	52.29				4.1	%		$	54.44			$	52.68				3.3	%

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
($ in thousands, except share data)

		June 30,				December 31,
		2011				2010
		(unaudited)
ASSETS
Investments and cash:
Fixed maturities, available-for-sale, at fair value (amortized cost: 2011, $1,799,369; 2010, $1,855,598)		$	1,847,221			$	1,882,245
Equity securities, available-for-sale, at fair value (cost: 2011, $68,035; 2010, $64,793)			94,737				87,258
Short-term investments, at cost which approximates fair value			185,032				153,057
Cash			40,340				31,768
Total investments and cash			2,167,330				2,154,328
Premiums receivable			273,327				188,368
Prepaid reinsurance premiums			176,960				156,869
Reinsurance recoverable on paid losses			65,856				56,658
Reinsurance recoverable on unpaid losses and loss adjustment expenses			852,992				843,296
Deferred policy acquisition costs			60,468				55,201
Accrued investment income			14,212				15,590
Goodwill and other intangible assets			7,037				6,925
Current income tax receivable, net			6,877				1,054
Deferred income tax, net			6,871				15,141
Other assets			23,979				38,029
Total assets		$	3,655,909			$	3,531,459
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Reserves for losses and loss adjustment expenses		$	2,033,556			$	1,985,838
Unearned premiums			534,474				463,515
Reinsurance balances payable			125,482				105,904
Senior notes			115,547				114,138
Accounts payable and other liabilities			28,931				32,710
Total liabilities			2,837,990				2,702,105
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 17,400,857 shares for 2011 and 17,274,440 shares for 2010			1,744				1,728
Additional paid-in capital			323,174				312,588
Treasury stock, at cost (2,385,393 shares for 2011 and 1,532,273 shares for 2010)			(106,377	)			(64,935	)
Retained earnings			541,123				539,512
Accumulated other comprehensive income			58,255				40,461
Total stockholders’ equity			817,919				829,354
Total liabilities and stockholders’ equity		$	3,655,909			$	3,531,459

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
Comparative Premium Data
($ in thousands)

Gross Written Premiums:		Three Months												Six Months
Insurance Companies:		2011				2010				Change				2011				2010				Change
Marine		$	58,323			$	55,204				6	%		$	128,671			$	122,730				5	%
Property Casualty			100,131				81,797				22	%			213,019				161,143				32	%
Professional Liability			28,313				33,640				-16	%			51,853				64,606				-20	%
			186,767				170,641				9	%			393,543				348,479				13	%
Lloyd’s Operations:
Marine			39,451				41,829				-6	%			100,606				100,970				0	%
Property Casualty			42,122				29,122				45	%			61,424				49,081				25	%
Professional Liability			10,374				11,976				-13	%			19,424				25,183				-23	%
			91,947				82,927				11	%			181,454				175,234				4	%
Total		$	278,714			$	253,568				10	%		$	574,997			$	523,713				10	%

Net Written Premiums:		Three Months												Six Months
Insurance Companies:		2011				2010				Change				2011				2010				Change
Marine		$	41,802			$	37,153				13	%		$	96,020			$	88,156				9	%
Property Casualty			62,015				54,300				14	%			124,922				103,997				20	%
Professional Liability			19,387				19,948				-3	%			33,002				40,588				-19	%
			123,204				111,401				11	%			253,944				232,741				9	%
Lloyd’s Operations:
Marine			32,042				34,421				-7	%			81,713				84,063				-3	%
Property Casualty			22,682				13,924				63	%			31,068				25,635				21	%
Professional Liability			5,435				5,259				3	%			9,714				11,883				-18	%
			60,159				53,604				12	%			122,495				121,581				1	%
Total		$	183,363			$	165,005				11	%		$	376,439			$	354,322				6	%

Net Earned Premiums:		Three Months												Six Months
Insurance Companies:		2011				2010				Change				2011				2010				Change
Marine		$	41,877			$	40,554				3	%		$	82,436			$	81,648				1	%
Property Casualty			55,351				50,171				10	%			98,286				101,252				-3	%
Professional Liability			17,759				19,700				-10	%			33,085				38,736				-15	%
			114,987				110,425				4	%			213,807				221,636				-4	%
Lloyd’s Operations:
Marine			37,734				34,727				9	%			74,712				70,287				6	%
Property Casualty			16,259				10,763				51	%			28,153				22,678				24	%
Professional Liability			4,797				5,556				-14	%			9,583				10,939				-12	%
			58,790				51,046				15	%			112,448				103,904				8	%
Total		$	173,777			$	161,471				8	%		$	326,255			$	325,540				0	%

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
Segment Information
Three Months Ended
June 30, 2011

($ in thousands)

		Insurance				Lloyd’s
		Companies				Operations				Corporate(1)				Total
Gross written premiums		$	186,767			$	91,947			$	—			$	278,714
Net written premiums			123,204				60,159				—				183,363
Net earned premiums			114,987				58,790				—				173,777
Net losses and loss adjustment expenses			(77,330	)			(36,533	)			—				(113,863	)
Commission expenses			(16,402	)			(12,042	)			414				(28,030	)
Other operating expenses			(26,516	)			(9,261	)			—				(35,777	)
Other income (expense)			626				361				(414	)			573
Underwriting profit (loss)			(4,635	)			1,315				(0	)			(3,320	)
Net investment income			14,989				2,320				120				17,429
Net realized gains (losses)			3,100				(798	)			172				2,474
Interest expense			—				—				(2,047	)			(2,047	)
Income (loss) before income taxes			13,454				2,837				(1,755	)			14,536
Income tax expense (benefit)			4,617				1,029				(614	)			5,032
Net income (loss)		$	8,837			$	1,808			$	(1,141	)		$	9,504
Losses and loss adjustment expenses ratio			67.3	%			62.1	%							65.5	%
Commission expense ratio			14.3	%			20.5	%							16.1	%
Other operating expense ratio (2)			22.4	%			15.2	%							20.3	%
Combined ratio			104.0	%			97.8	%							101.9	%

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
Segment Information
Three Months Ended
June 30, 2010

($ in thousands)

		Insurance				Lloyd’s
		Companies				Operations				Corporate(1)				Total
Gross written premiums		$	170,641			$	82,927			$	—			$	253,568
Net written premiums			111,401				53,604				—				165,005
Net earned premiums			110,425				51,046				—				161,471
Net losses and loss adjustment expenses			(64,862	)			(35,001	)			—				(99,863	)
Commission expenses			(14,615	)			(11,402	)			340				(25,677	)
Other operating expenses			(25,907	)			(8,617	)			—				(34,524	)
Other income (expense)			(114	)			(434	)			(340	)			(888	)
Underwriting profit (loss)			4,927				(4,408	)			—				519
Net investment income			15,556				2,128				169				17,853
Net realized gains (losses)			10,729				19				117				10,865
Interest expense			—				—				(2,044	)			(2,044	)
Income (loss) before income taxes			31,212				(2,261	)			(1,758	)			27,193
Income tax expense (benefit)			9,654				(815	)			(616	)			8,223
Net income (loss)		$	21,558			$	(1,446	)		$	(1,142	)		$	18,970
Losses and loss adjustment expenses ratio			58.7	%			68.6	%							61.8	%
Commission expense ratio			13.2	%			22.3	%							15.9	%
Other operating expense ratio (2)			23.6	%			17.7	%							22.0	%
Combined ratio			95.5	%			108.6	%							99.7	%

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
Segment Information
Six Months Ended
June 30, 2011

($ in thousands)

		Insurance				Lloyd’s
		Companies				Operations				Corporate(1)				Total
Gross written premiums		$	393,543			$	181,454			$	—			$	574,997
Net written premiums			253,944				122,495				—				376,439
Net earned premiums			213,807				112,448				—				326,255
Net losses and loss adjustment expenses			(152,127	)			(78,524	)			—				(230,651	)
Commission expenses			(28,742	)			(26,449	)			961				(54,230	)
Other operating expenses			(53,315	)			(19,037	)			—				(72,352	)
Other income (expense)			2,317				208				(961	)			1,564
Underwriting profit (loss)			(18,060	)			(11,354	)			(0	)			(29,414	)
Net investment income			29,972				4,575				266				34,813
Net realized gains (losses)			2,855				(2,183	)			172				844
Interest expense			—				—				(4,093	)			(4,093	)
Income (loss) before income taxes			14,767				(8,962	)			(3,655	)			2,150
Income tax expense (benefit)			4,845				(3,027	)			(1,279	)			539
Net income (loss)		$	9,922			$	(5,935	)		$	(2,376	)		$	1,611
Losses and loss adjustment expenses ratio			71.2	%			69.8	%							70.7	%
Commission expense ratio			13.4	%			23.5	%							16.6	%
Other operating expense ratio (2)			23.8	%			16.8	%							21.7	%
Combined ratio			108.4	%			110.1	%							109.0	%

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
Segment Information
Six Months Ended
June 30, 2010

($ in thousands)

		Insurance				Lloyd’s
		Companies				Operations				Corporate(1)				Total
Gross written premiums		$	348,479			$	175,234			$	—			$	523,713
Net written premiums			232,741				121,581				—				354,322
Net earned premiums			221,636				103,904				—				325,540
Net losses and loss adjustment expenses			(133,265	)			(70,405	)			—				(203,670	)
Commission expenses			(28,977	)			(22,368	)			352				(50,993	)
Other operating expenses			(53,260	)			(15,860	)			—				(69,120	)
Other income (expense)			(1,091	)			1,635				(352	)			192
Underwriting profit (loss)			5,043				(3,094	)			—				1,949
Net investment income			31,304				4,197				324				35,825
Net realized gains (losses)			15,934				732				231				16,897
Interest expense			—				—				(4,088	)			(4,088	)
Income (loss) before income taxes			52,281				1,835				(3,533	)			50,583
Income tax expense (benefit)			15,117				688				(1,237	)			14,568
Net income (loss)		$	37,164			$	1,147			$	(2,296	)		$	36,015
Losses and loss adjustment expenses ratio			60.1	%			67.8	%							62.6	%
Commission expense ratio			13.1	%			21.5	%							15.7	%
Other operating expense ratio (2)			24.5	%			13.7	%							21.1	%
Combined ratio			97.7	%			103.0	%							99.4	%

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
Underwriting Results
($ in thousands)

		Three Months Ended June 30, 2011
		Net				Losses
		Earned				and LAE				Underwriting				Underwriting				Loss				Expense				Combined
Insurance Companies:		Premiums				Incurred				Expenses				Profit (Loss)				Ratio				Ratio				Ratio
Marine		$	41,877			$	26,808			$	15,082			$	(13	)			64.0	%			36.0	%			100.0	%
Property Casualty			55,351				38,429				20,458				(3,536	)			69.4	%			37.0	%			106.4	%
Professional Liability			17,759				12,093				6,752				(1,086	)			68.1	%			38.0	%			106.1	%
			114,987				77,330				42,292				(4,635	)			67.3	%			36.7	%			104.0	%
Lloyd’s Operations			58,790				36,533				20,942				1,315				62.1	%			35.7	%			97.8	%
Total		$	173,777			$	113,863			$	63,234			$	(3,320	)			65.5	%			36.4	%			101.9	%

		Three Months Ended June 30, 2010
		Net				Losses
		Earned				and LAE				Underwriting				Underwriting				Loss				Expense				Combined
Insurance Companies:		Premiums				Incurred				Expenses				Profit (Loss)				Ratio				Ratio				Ratio
Marine		$	40,554			$	25,521			$	14,171			$	862				62.9	%			35.0	%			97.9	%
Property Casualty			50,171				24,936				19,192				6,043				49.7	%			38.3	%			88.0	%
Professional Liability			19,700				14,405				7,273				(1,978	)			73.1	%			36.9	%			110.0	%
			110,425				64,862				40,636				4,927				58.7	%			36.8	%			95.5	%
Lloyd’s Operations			51,046				35,001				20,453				(4,408	)			68.6	%			40.0	%			108.6	%
Total		$	161,471			$	99,863			$	61,089			$	519				61.8	%			37.9	%			99.7	%

		Amounts								Loss Ratio
Net Incurred Loss Activity		June 30,				June 30,				June 30,				June 30,
For the Three Months Ended:		2011				2010				2011				2010
Insurance Companies:
Loss and LAE payments		$	77,278			$	68,098				67.3	%			61.7	%
Change in reserves			52				(3,236	)			0.0	%			-3.0	%
Net incurred loss and LAE			77,330				64,862				67.3	%			58.7	%
Lloyd’s Operations:
Loss and LAE payments			26,646				30,637				45.3	%			60.0	%
Change in reserves			9,887				4,364				16.8	%			8.6	%
Net incurred loss and LAE			36,533				35,001				62.1	%			68.6	%
Total
Loss and LAE payments			103,924				98,735				59.8	%			61.1	%
Change in reserves			9,939				1,128				5.7	%			0.7	%
Net incurred loss and LAE		$	113,863			$	99,863				65.5	%			61.8	%

Impact of Prior Years Reserves		Amounts								Loss Ratio Impact
Favorable / (Unfavorable) Development		June 30,				June 30,				June 30,				June 30,
For the Three Months Ended:		2011				2010				2011				2010
Insurance Companies		$	137			$	4,844				0.1	%			4.4	%
Lloyd’s Operations			(952	)			406				-1.6	%			0.8	%
Total		$	(815	)		$	5,250				-0.5	%			3.3	%

News Release
Page 12

THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
Underwriting Results
($ in thousands)

		Six Months Ended June 30, 2011
		Net				Losses
		Earned				and LAE				Underwriting				Underwriting				Loss				Expense				Combined
Insurance Companies:		Premiums				Incurred				Expenses				Profit (Loss)				Ratio				Ratio				Ratio
Marine		$	82,436			$	54,806			$	28,880			$	(1,250	)			66.5	%			35.0	%			101.5	%
Property Casualty			98,286				74,364				38,056				(14,134	)			75.7	%			38.7	%			114.4	%
Professional Liability			33,085				22,957				12,804				(2,676	)			69.4	%			38.7	%			108.1	%
			213,807				152,127				79,740				(18,060	)			71.2	%			37.2	%			108.4	%
Lloyd’s Operations			112,448				78,524				45,278				(11,354	)			69.8	%			40.3	%			110.1	%
Total		$	326,255			$	230,651			$	125,018			$	(29,414	)			70.7	%			38.3	%			109.0	%