Navigators tops Wall Street consensus

Operating earnings at Navigators slipped by 3.3 percent to
$20.2mn in the first quarter as underwriting performance
deteriorated modestly.
However, the New York-listed insurer's operating earnings
per share of $1.36 comfortably outstripped the Wall Street
consensus of $1.22.
The insurer's combined ratio widened by 2.8 percentage
points to 95.1 percent, as reserve releases tailed off.
In the first quarter of 2015 the combined ratio benefited from
5.3 percentage points of reserve releases - a figu