Exhibit 99.2

                   Navigators Receives Moody's Credit Ratings

    NEW YORK--(BUSINESS WIRE)--April 7, 2006--The Navigators Group,
Inc. (NASDAQ:NAVG) today announced that Moody's Investors Service
assigned A3 insurance financial strength ratings to Navigators
Insurance Company and NIC Insurance Company. Moody's also assigned the
Company a Baa3 rating for the senior notes to be issued in the
Company's public offering announced today. According to Moody's, these
ratings reflect the Company's "historically profitable underwriting
results, its strong operating cashflows, its high quality investment
portfolio and its prudent management of catastrophe exposures on a net
basis."
    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 Form 10-K and its other
filings with the Securities and Exchange Commission for a description
of Navigators' business and the important factors which may affect
that business. Navigators 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