Navigators beats estimates as earnings stall

Navigators delivered net operating earnings of $20.4mn in the
first quarter, just $200,000 more than it reported for the year-ago
period.
But the $0.68 per share result was just ahead of the $0.66 per
share consensus estimate of five analysts surveyed by
MarketWatch.
The outperformance was achieved despite competitive headwinds.
Navigators' president and CEO Stan Galanski said cost control
remained a priority, pointing to a 3.7 percent reduction in
expenses excluding net acquisition costs since