Exhibit 99.1

                   Navigators Prices Equity Offering

    NEW YORK--(BUSINESS WIRE)--Oct. 12, 2005--The Navigators Group,
Inc. (NASDAQ:NAVG) today priced its previously announced equity
offering of 3,300,000 shares of its common stock at $34.50 per share.
When closed, the offering is expected to generate net proceeds of
approximately $108 million. The Company will use the net proceeds from
the offering to make contributions to the capital of one or both of
its insurance subsidiaries and for other general corporate purposes.
The Company has also granted the underwriters an option to purchase up
to 495,000 additional shares of Company common stock to cover
over-allotments.
    Credit Suisse First Boston LLC and Keefe, Bruyette & Woods, Inc.
are acting as Joint Book-Running Managers of the offering. Co-managers
for the offering are J.P. Morgan Securities Inc., Cochran, Caronia &
Co. and Sandler O'Neill & Partners, L.P.
    A registration statement relating to these securities has been
filed with the Securities and Exchange Commission and was declared
effective on September 30, 2005. This announcement shall not
constitute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state.
    The Navigators Group, Inc. is an international insurance holding
company with insurance company operations, underwriting management
companies, and operations at Lloyd's of London. Headquartered in New
York City, Navigators has offices in major insurance centers in the
United States, the United Kingdom and Belgium.
    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. We cannot assure that results which we
anticipate will be achieved, since results may differ materially
because of known and unknown risks and uncertainties which we face.
Please refer to Navigators' most recent Forms 10-K and 10-Q and its
other filings with the Securities and Exchange Commission for a
description of the Company's business and the important factors which
may affect that business. The Company undertakes no obligation to
publicly update or revise any forward-looking statement.



    CONTACT: The Navigators Group, Inc.
             Paul J. Malvasio, 914-933-6088
             Executive Vice President
             and Chief Financial Officer
             pmalvasio@navg.com
             www.navg.com