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Navigators Group expects tax reform to hit Q4'17 net income by $20M

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Navigators Group expects tax reform to hit Q4'17 net income by $20M

Navigators Group Inc. expects fourth-quarter 2017 net income to be impacted by a one-time noncash tax charge of $20 million as a result of recently enacted federal tax reform.

The charge will not, however, affect the company's net operating earnings.

Based on its preliminary assessment, the company expects the tax reform to have a beneficial impact on future net income and net operating earnings.