Exhibit 99.1

		The Navigators Group, Inc. CORPORATE NEWS

Navigators Reports Fourth Quarter Earnings

New York — February 25, 2010 — The Navigators Group, Inc. (NASDAQ:NAVG) reported net income of $6.1 million, or $0.35 per diluted share, for the three months ended December 31, 2009 compared to net income of $10.0 million, or $0.59 per diluted share, for the comparable period in 2008.

The summary of results for the three months ended December 31, 2009 and 2008 were as follows:

										Diluted earnings per share
($ in millions, except per share amounts)		2009				2008				2009				2008
Net income		$	6.1			$	10.0			$	0.35			$	0.59
Less: Net realized gains / (losses) after-tax			0.8				(16.1	)			0.05				(0.95	)
Operating earnings (1)		$	5.3			$	26.1			$	0.30			$	1.54

•

The results for the three months ended December 31, 2009 included after-tax net realized gains of $0.8 million, or $0.05 per diluted share, which included other-than-temporary impairment losses on investments of $0.1 million after-tax, or $0.01 per diluted share.

•

The results for the three months ended December 31, 2008 included after-tax net realized losses of $16.1 million, or $0.95 per diluted share, which included other-than-temporary impairment losses on investments of $15.5 million after-tax, or $0.91 per diluted share.

The summary of results for the twelve months ended December 31, 2009 and 2008 were as follows:

										Diluted earnings per share
($ in millions, except per share amounts)		2009				2008				2009				2008
Net income		$	63.2			$	51.7			$	3.65			$	3.04
Less: Net realized gains / (losses) after-tax			(2.0	)			(24.9	)			(0.11	)			(1.46	)
Operating earnings (1)		$	65.2			$	76.6			$	3.76			$	4.50

•

The results for the twelve months ended December 31, 2009 included after-tax net realized losses of $2.0 million, or $0.11 per diluted share, which included other-than-temporary impairment losses on investments of $7.8 million after-tax, or $0.45 per diluted share.

•

The results for the twelve months ended December 31, 2008 included $19.1 million, or $1.12 per diluted share, for after-tax net losses from Hurricanes Gustav and Ike. In addition, the results included after-tax net realized losses of $24.9 million, or $1.46 per diluted share, which included other-than-temporary impairment losses on investments of $24.1 million after-tax, or $1.42 per diluted share.

•

For the three and twelve months ended December 31, 2009, book value per share decreased by 1% and increased by 16%, respectively, to $47.58.

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February 25, 2010
Page 2

Gross written premiums and net written premiums for the three months ended December 31, 2009 were $251.7 million and $161.6 million, respectively, a decrease of 5.2% and an increase of 1.4% from the comparable 2008 periods. Gross written premiums and net written premiums for the twelve months ended December 31, 2009 were $1,044.9 million and $701.3 million, respectively, a decrease of 3.7% and an increase of 6.0% from the comparable 2008 periods.

The combined loss and expense ratios for the three and twelve months ended December 31, 2009 were 106.5% and 97.2%, respectively, compared to 88.9% and 93.8% for the comparable 2008 periods. The combined loss and expense ratio for the three months ended December 31, 2009 was negatively impacted by 5.7 loss ratio points due to unfavorable development in prior period loss reserves. The combined loss and expense ratio for the twelve months ended December 31, 2009 was positively impacted by 1.3 loss ratio points due to favorable development in prior period loss reserves. The combined loss and expense ratios for the three and twelve months ended December 31, 2008 included 0.8 and 4.3 loss and expense ratio points, respectively, due to the net losses from Hurricanes Gustav and Ike. Such net losses are inclusive of reinsurance recoveries and related costs for reinsurance reinstatement premiums.

Navigators’ Chief Executive Officer Stan Galanski commented, “In what was an increasingly competitive underwriting environment and challenging economy, we are pleased to have generated an underwriting profit and grown book value by 16% during 2009. In times like these, a company’s ability and willingness to exercise underwriting, balance sheet and capital management discipline are put to the test. We continue to emphasize underwriting and pricing integrity, which has slowed the development of several of our more recent growth initiatives. We would rather take the time to build these businesses properly and profitably than to ignore the potential consequences of rapid growth in a soft market.

Our strategy is to maintain a conservative balance sheet and a strong capital position. We continued to experience favorable development in 2009 on our prior accident reserves and have taken appropriate underwriting and reserving actions to address those lines of business that were adversely impacted by higher than expected large loss activity.”

During the three and twelve months ended December 31, 2009, the Company repurchased 141,576 shares of its common stock for $6.8 million. The Company repurchased an additional 300,000 shares of its common stock for $13.0 million from January 1, 2010 through February 22, 2010.

Net investment income for the three and twelve months ended December 31, 2009 was $19.0 million and $75.5 million, respectively, which were decreases of 3.4% and 1.4% from the comparable 2008 periods. The annualized pre-tax investment yields, excluding net realized gains and losses, were 3.7% and 3.8% for the three and twelve months ended December 31, 2009, respectively, compared to 4.2% and 4.1% for the comparable 2008 periods. The effective tax rates on net investment income were 24.7% and 25.0% for the three and twelve months ended December 31, 2009, respectively, compared to 25.3% and 25.7% for the comparable 2008 periods.

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 4.2 years at December 31, 2009. At December 31, 2009, net unrealized gains within our investment portfolio were $53.9 million, a decrease of $13.5 million compared to September 30, 2009. There were $1.3 million of net realized gains for the three months ended December 31, 2009.

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February 25, 2010
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Consolidated cash flow from operations for the three and twelve months ended December 31, 2009 was $(1.3) million and $103.9 million, respectively, compared to $28.9 million and $245.3 million for the comparable 2008 periods.

Stockholders’ equity was $801.5 million, or $47.58 per share, at December 31, 2009 compared to $689.3 million, or $40.89 per share, at December 31, 2008. The statutory surplus of Navigators Insurance Company was $645.8 million at December 31, 2009 compared to $581.2 million at December 31, 2008.

Effective in 2009, the Company has reclassified certain of its business lines which had no effect on the segment classifications of the Insurance Companies and Lloyd’s Operations. Underwriting data for prior periods has been reclassified to reflect these changes.

•

The offshore energy business, formerly included in the “Marine and Energy” businesses of the Insurance Companies and Lloyd’s Operations, is now included in the Insurance Companies’ and Lloyd’s “Property Casualty” businesses.

•

The marine lines within both the Insurance Company and Lloyd’s are now presented as “Marine” instead of “Marine and Energy,” since the energy business has now been reclassified to “Property Casualty.”

•

Engineering and construction, European Property and other run-off business, formerly included in the “Other” category of business within the Insurance Companies and Lloyd’s, are now included under “Property Casualty.”

•

The “Middle Markets” business, formerly broken out separately in the Insurance Companies, is now included in the Insurance Companies’ “Property Casualty” business.

The Company will hold a conference call on Friday, February 26, 2010 starting at 8:30 a.m. ET to discuss the 2009 fourth quarter results. The call will be available via live webcast on Navigators’ website (www.navg.com) by clicking on the Earnings Webcast link under “News & Events”.

To participate by telephone, the domestic dial-in number is (888) 679-8034 and the international dial-in is (617) 213-4847. The access code is 53869873. Participants may pre-register for the call at https://www.theconferencingservice.com/prereg/key.process?key=PFYLPDDAG. Pre-registrants will be issued a pin number to use when dialing into the live call that will provide quick access by bypassing the operator upon connection.

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.

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February 25, 2010
Page 4

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.

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

		Three Months Ended												Twelve Months Ended
		December 31,												December 31,
Results of Operations		2009				2008				Change				2009				2008				Change
Gross written premiums		$	251,739			$	265,620				-5	%		$	1,044,918			$	1,084,922				-4	%
Net written premiums			161,595				159,288				1	%			701,255				661,615				6	%
Revenues:
Net earned premiums			177,278				171,493				3	%			683,363				643,976				6	%
Commission income			(92	)			269			NM					87				1,005				-91	%
Net investment income			19,003				19,663				-3	%			75,512				76,554				-1	%
Total other-than-temporary impairments			(496	)			(23,885	)		NM					(29,265	)			(37,045	)			-21	%
Portion of loss recognized in Other comprehensive income (before tax)			335				—			NM					17,388				—			NM
Net other-than-temporary impairment loss recognized in earnings			(161	)			(23,885	)		NM					(11,877	)			(37,045	)			-68	%
Net realized gains (losses)			1,476				(846	)		NM					9,217				(1,254	)		NM
Other income (expense)			71				(472	)		NM					6,578				430			NM
Total revenues			197,575				166,222				19	%			762,880				683,666				12	%
Expenses:
Net losses and loss adjustment expenses			127,432				99,553				28	%			435,998				393,131				11	%
Commission expenses			27,330				22,990				19	%			98,908				89,785				10	%
Other operating expenses			34,099				29,554				15	%			132,671				123,148				8	%
Interest expense			2,044				2,219				-8	%			8,455				8,871				-5	%
Total expenses			190,905				154,316				24	%			676,032				614,935				10	%
Income before income taxes			6,670				11,906				-44	%			86,848				68,731				26	%
Income tax expense			594				1,886				-69	%			23,690				17,039				39	%
Net income		$	6,076			$	10,020				-39	%		$	63,158			$	51,692				22	%
Per Share Data
Net income per common share:
Basic		$	0.36			$	0.60				-40	%		$	3.73			$	3.08				21	%
Diluted		$	0.35			$	0.59				-41	%		$	3.65			$	3.04				20	%
Average shares outstanding:
Basic			16,955				16,801								16,935				16,802
Diluted			17,355				16,971								17,322				16,992
Underwriting Ratios
Loss Ratio			71.9	%			58.1	%							63.8	%			61.0	%
Expense Ratio			34.6	%			30.8	%							33.4	%			32.8	%
Combined Ratio			106.5	%			88.9	%							97.2	%			93.8	%

		Dec. 31,				Sept. 30,								Dec. 31,				Dec. 31,
Balance Sheet Data		2009				2009								2009				2008
Stockholders’ equity		$	801,519			$	810,955				-1	%		$	801,519			$	689,317				16	%
Book value per share		$	47.58			$	47.78				0	%		$	47.58			$	40.89				16	%

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

		December 31,				December 31,
		2009				2008
		(unaudited)
ASSETS
Investments and cash:
Fixed maturities, available-for-sale, at fair value (amortized cost: 2009, $1,777,983; 2008, $1,664,755)		$	1,816,669			$	1,643,772
Equity securities, available-for-sale, at fair value (cost: 2009, $47,376; 2008, $52,523)			62,610				51,802
Short-term investments, at cost which approximates fair value			176,799				220,684
Cash			509				1,457
Total investments and cash			2,056,587				1,917,715
Premiums receivable			193,460				170,522
Prepaid reinsurance premiums			162,344				188,874
Reinsurance recoverable on paid losses			76,505				67,227
Reinsurance recoverable on unpaid losses and loss adjustment expenses			807,352				853,793
Deferred policy acquisition costs			56,575				47,618
Accrued investment income			17,438				17,411
Goodwill and other intangible assets			7,057				6,622
Current income tax receivable, net			4,854				—
Deferred income tax, net			31,222				54,736
Other assets			40,600				25,062
Total assets		$	3,453,994			$	3,349,580
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Reserves for losses and loss adjustment expenses		$	1,920,286			$	1,853,664
Unearned premiums			475,171				480,665
Reinsurance balances payable			98,555				140,319
Senior notes			114,010				123,794
Current income tax payable, net			—				5,874
Accounts payable and other liabilities			44,453				55,947
Total liabilities			2,652,475				2,660,263
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 17,212,814 shares for 2009 and 17,080,826 shares for 2008			1,721				1,708
Additional paid-in capital			304,505				298,872
Retained earnings			469,934				406,776
Treasury stock, at cost (366,330 shares for 2009 and 224,754 shares for 2008)			(18,296	)			(11,540	)
Accumulated other comprehensive income (loss)			43,655				(6,499	)
Total stockholders’ equity			801,519				689,317
Total liabilities and stockholders’ equity		$	3,453,994			$	3,349,580

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

		Three Months												Twelve Months
		2009				2008				Change				2009				2008				Change
Gross Written Premiums:
Insurance Companies:
Marine		$	53,986			$	58,878				-8	%		$	241,438			$	248,080				-3	%
Property Casualty			80,158				94,009				-15	%			352,285				405,062				-13	%
Professional Liability			35,264				37,618				-6	%			137,053				109,048				26	%
			169,408				190,505				-11	%			730,776				762,190				-4	%
Lloyd’s Operations:
Marine			51,703				48,998				6	%			191,959				192,568				0	%
Property Casualty			19,093				16,621				15	%			78,151				91,292				-14	%
Professional Liability			11,535				9,496				21	%			44,032				38,872				13	%
			82,331				75,115				10	%			314,142				322,732				-3	%
Total		$	251,739			$	265,620				-5	%		$	1,044,918			$	1,084,922				-4	%

		Three Months												Twelve Months
		2009				2008				Change				2009				2008				Change
Net Written Premiums:
Insurance Companies:
Marine		$	38,242			$	35,130				9	%		$	171,289			$	147,569				16	%
Property Casualty			43,987				57,794				-24	%			227,234				261,322				-13	%
Professional Liability			19,970				21,139				-6	%			79,150				63,797				24	%
			102,199				114,063				-10	%			477,673				472,688				1	%
Lloyd’s Operations:
Marine			42,286				33,161				28	%			156,153				132,788				18	%
Property Casualty			11,316				6,588				72	%			45,097				32,735				38	%
Professional Liability			5,794				5,476				6	%			22,332				23,404				-5	%
			59,396				45,225				31	%			223,582				188,927				18	%
Total		$	161,595			$	159,288				1	%		$	701,255			$	661,615				6	%

		Three Months												Twelve Months
		2009				2008				Change				2009				2008				Change
Net Earned Premiums:
Insurance Companies:
Marine		$	43,075			$	38,350				12	%		$	157,534			$	132,005				19	%
Property Casualty			57,283				68,582				-16	%			246,143				273,977				-10	%
Professional Liability			19,446				14,239				37	%			75,444				57,316				32	%
			119,804				121,171				-1	%			479,121				463,298				3	%
Lloyd’s Operations:
Marine			40,800				34,873				17	%			142,958				126,126				13	%
Property Casualty			11,080				9,752				14	%			39,330				32,644				20	%
Professional Liability			5,594				5,697				-2	%			21,954				21,908				0	%
			57,474				50,322				14	%			204,242				180,678				13	%
Total		$	177,278			$	171,493				3	%		$	683,363			$	643,976				6	%

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
Segment Information
Three Months Ended
December 31, 2009

($ in thousands)

		Insurance				Lloyd’s
		Companies				Operations				Corporate				Total
Gross written premiums		$	169,408			$	82,331			$	—			$	251,739
Net written premiums			102,199				59,396				—				161,595
Net earned premiums			119,804				57,474				—				177,278
Net losses and loss adjustment expenses			(89,838	)			(37,594	)			—				(127,432	)
Commission expenses			(16,575	)			(11,194	)			439				(27,330	)
Other operating expenses			(26,141	)			(7,963	)			—				(34,104	)
Other income (expense)			341				82				(439	)			(16	)
Underwriting profit (loss)			(12,409	)			805				—				(11,604	)
Investment income			16,674				2,169				160				19,003
Net realized gains (losses)			1,520				(205	)			—				1,315
Other operating expenses			—				—				5				5
Other income (expense)			—				—				(5	)			(5	)
Interest expense			—				—				(2,044	)			(2,044	)
Income (loss) before income tax expense (benefit)			5,785				2,769				(1,884	)			6,670
Income tax expense (benefit)			142				1,112				(660	)			594
Net income (loss)		$	5,643			$	1,657			$	(1,224	)		$	6,076
Loss and loss expenses ratio			75.0	%			65.4	%							71.9	%
Commission expense ratio			13.8	%			19.5	%							15.4	%
Other operating expenses ratio (1)			21.6	%			13.7	%							19.2	%
Combined ratio			110.4	%			98.6	%							106.5	%

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
Segment Information
Three Months Ended
December 31, 2008

($ in thousands)

		Insurance				Lloyd’s
		Companies				Operations				Corporate				Total
Gross written premiums		$	190,505			$	75,115			$	—			$	265,620
Net written premiums			114,063				45,225				—				159,288
Net earned premiums			121,171				50,322				—				171,493
Net losses and loss adjustment expenses			(67,840	)			(31,713	)			—				(99,553	)
Commission expenses			(14,258	)			(8,732	)			—				(22,990	)
Other operating expenses			(22,795	)			(6,869	)			110				(29,554	)
Other income (expense)			92				(185	)			(110	)			(203	)
Underwriting profit			16,370				2,823				—				19,193
Investment income			16,513				2,728				422				19,663
Net realized gains (losses)			(24,460	)			(271	)			—				(24,731	)
Interest expense			—				—				(2,219	)			(2,219	)
Income (loss) before income tax expense (benefit)			8,423				5,280				(1,797	)			11,906
Income tax expense (benefit)			634				1,881				(629	)			1,886
Net income (loss)		$	7,789			$	3,399			$	(1,168	)		$	10,020
Loss and loss expenses ratio			56.0	%			63.0	%							58.1	%
Commission expense ratio			11.8	%			17.4	%							13.4	%
Other operating expenses ratio (1)			18.7	%			14.0	%							17.4	%
Combined ratio			86.5	%			94.4	%							88.9	%

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
Segment Information
Twelve Months Ended
December 31, 2009

($ in thousands)

		Insurance				Lloyd’s
		Companies				Operations				Corporate				Total
Gross written premiums		$	730,776			$	314,142			$	—			$	1,044,918
Net written premiums			477,673				223,582				—				701,255
Net earned premiums			479,121				204,242				—				683,363
Net losses and loss adjustment expenses			(304,672	)			(131,326	)			—				(435,998	)
Commission expenses			(61,949	)			(37,727	)			768				(98,908	)
Other operating expenses			(104,801	)			(27,896	)			—				(132,697	)
Other income (expense)			3,498				961				(768	)			3,691
Underwriting profit			11,197				8,254				—				19,451
Investment income			65,717				9,229				566				75,512
Net realized losses			533				(3,193	)			—				(2,660	)
Other operating expenses			—				—				26				26
Other income (expense)			—				—				2,974				2,974
Interest expense			—				—				(8,455	)			(8,455	)
Income (loss) before income tax expense (benefit)			77,447				14,290				(4,889	)			86,848
Income tax expense (benefit)			19,819				5,582				(1,711	)			23,690
Net income (loss)		$	57,628			$	8,708			$	(3,178	)		$	63,158
Loss and loss expenses ratio			63.6	%			64.3	%							63.8	%
Commission expense ratio			12.9	%			18.5	%							14.5	%
Other operating expenses ratio (1)			21.1	%			13.2	%							18.9	%
Combined ratio			97.6	%			96.0	%							97.2	%

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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
Segment Information
Twelve Months Ended
December 31, 2008

($ in thousands)

		Insurance				Lloyd’s
		Companies				Operations				Corporate				Total
Gross written premiums		$	762,190			$	322,732			$	—			$	1,084,922
Net written premiums			472,688				188,927				—				661,615
Net earned premiums			463,298				180,678				—				643,976
Net losses and loss adjustment expenses			(275,767	)			(117,364	)			—				(393,131	)
Commission expenses			(55,752	)			(34,033	)			—				(89,785	)
Other operating expenses			(92,297	)			(30,961	)			110				(123,148	)
Other income (expense)			2,145				(600	)			(110	)			1,435
Underwriting profit (loss)			41,627				(2,280	)			—				39,347
Investment income			63,544				11,655				1,355				76,554
Net realized gains (losses)			(37,822	)			(477	)			—				(38,299	)
Interest expense			—				—				(8,871	)			(8,871	)
Income (loss) before income tax expense (benefit)			67,349				8,898				(7,516	)			68,731
Income tax expense (benefit)			16,401				3,269				(2,631	)			17,039
Net income (loss)		$	50,948			$	5,629			$	(4,885	)		$	51,692
Loss and loss expenses ratio			59.5	%			65.0	%							61.0	%
Commission expense ratio			12.0	%			18.8	%							13.9	%
Other operating expenses ratio (1)			19.5	%			17.5	%							18.9	%
Combined ratio			91.0	%			101.3	%							93.8	%

News Release
Page 12

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

		Three Months Ended December 31, 2009
		Net				Losses
		Earned				and LAE				Underwriting				Underwriting				Combined Ratio
		Premiums				Incurred				Expenses				Gain(Loss)				Loss				Expense				Total
Insurance Companies:
Marine		$	43,075			$	26,677			$	14,998			$	1,400				61.9	%			34.8	%			96.7	%
Property Casualty			57,283				43,444				20,474				(6,635	)			75.8	%			35.7	%			111.5	%
Professional Liability			19,446				19,717				6,903				(7,174	)			101.4	%			35.5	%			136.9	%
			119,804				89,838				42,375				(12,409	)			75.0	%			35.4	%			110.4	%
Lloyd’s Operations			57,474				37,594				19,075				805				65.4	%			33.2	%			98.6	%
Total		$	177,278			$	127,432			$	61,450			$	(11,604	)			71.9	%			34.6	%			106.5	%

		Three Months Ended December 31, 2008
		Net				Losses
		Earned				and LAE				Underwriting				Underwriting				Combined Ratio
		Premiums				Incurred				Expenses				Gain(Loss)				Loss				Expense				Total
Insurance Companies:
Marine		$	38,350			$	25,891			$	10,294			$	2,165				67.5	%			26.8	%			94.3	%
Property Casualty			68,582				33,027				21,559				13,996				48.2	%			31.4	%			79.6	%
Professional Liability			14,239				8,922				5,108				209				62.7	%			35.9	%			98.6	%
			121,171				67,840				36,961				16,370				56.0	%			30.5	%			86.5	%
Lloyd’s Operations			50,322				31,713				15,786				2,823				63.0	%			31.4	%			94.4	%
Total		$	171,493			$	99,553			$	52,747			$	19,193				58.1	%			30.8	%			88.9	%

		Amounts								Loss Ratio
		Dec. 31,				Dec. 31,				Dec. 31,				Dec. 31,
		2009				2008				2009				2008
Net Incurred Loss Activity
For the Three Months Ended:
Insurance Companies:
Loss and LAE payments		$	75,175			$	56,373				62.8	%			46.5	%
Change in reserves			14,663				11,467				12.2	%			9.5	%
Net incurred loss and LAE			89,838				67,840				75.0	%			56.0	%
Lloyd’s Operations:
Loss and LAE payments			24,130				25,714				42.0	%			51.1	%
Change in reserves			13,464				5,999				23.4	%			11.9	%
Net incurred loss and LAE			37,594				31,713				65.4	%			63.0	%
Total
Loss and LAE payments			99,305				82,087				56.0	%			47.9	%
Change in reserves			28,127				17,466				15.9	%			10.2	%
Net incurred loss and LAE		$	127,432			$	99,553				71.9	%			58.1	%