American Safety Insurance Holdings, Ltd. Board
of Directors Authorizes Stock Repurchase
March 03, 2010 04:33 PM Eastern Time
HAMILTON, Bermuda--(EON: Enhanced Online News)--American Safety Insurance Holdings, Ltd. (NYSE:
ASI) announced today that the Company’s Board of Directors has approved the repurchase of up to 500,000
shares of the Company’s outstanding common stock. The timing, price and volume of repurchases will be based on
market conditions, relevant securities laws and other factors. Repurchases may be made from time to time on the
open market or in privately negotiated block transactions. The repurchase program does not require the Company to
repurchase any shares, or any specific number of shares, and may be terminated by the Company at any time.
"The Board's approval of the share repurchase program reflects its confidence in the Company's business and its
ongoing commitment to increase shareholder value," said Stephen R. Crim, President and Chief Executive Officer of
ASI. "At the same time, the Company will maintain adequate capital to support growth from our specialty
underwriting platform," Mr. Crim added.
American Safety Insurance Holdings, Ltd. (NYSE:ASI - News), a Bermuda holding company, offers
innovative insurance solutions outside the U.S. in the reinsurance and alternative risk markets through its
subsidiaries American Safety Reinsurance, Ltd. and American Safety Assurance, Ltd., and in the U.S. for
specialty risks and alternative risk markets through its program administrator, American Safety Insurance
Services, Inc., and insurance company subsidiaries and affiliates American Safety Casualty Insurance
Company, American Safety Indemnity Company and American Safety Risk Retention Group, Inc. As a group,
ASI’s insurance subsidiaries and affiliates are rated "A" (Excellent) VIII by A.M. Best. For additional
information, please visit www.asih.bm.
American Safety Administrative Services, Inc.
Julie L. McDonald, 770-485-4310