Business & Finance
Business and Finance
Business and Finance
Thu, July 14, 2011
Wed, July 13, 2011 American Safety Insurance Holdings, Ltd. Provides Preliminary Loss Estimate for U.S. Weather-Related Events
HAMILTON, Bermuda--([ BUSINESS WIRE ])--American Safety Insurance Holdings, Ltd. (NYSE: ASI) today announced that the Companya™s 2011 second quarter results will include estimated after-tax property losses of between $3.0 million to $4.0 million net of reinsurance associated with U.S. storms that occurred in the second quarter of 2011. The estimated losses are based upon information currently available and preliminary claims information reported to the company. The actual losses may vary from these initial estimates. None of the second quarter loss estimate is related to the 2011 first quarter catastrophic events.
The Companya™s 2011 second quarter earnings release will be issued at the close of business August 3, 2011. The Company has scheduled its quarterly conference call with analysts and investors to discuss its earnings and other information on Thursday, August 4, 2011 at 9:00 a.m. eastern time. A live audio webcast of the conference call may be accessed via the Company's website at [ www.amsafety.com ].
This report contains forward-looking statements.The forward-looking statements reflect the Companya™s current views with respect to future events and financial performance, including catastrophe and other losses.Forward-looking statements involve risks and uncertainties which may cause actual results to differ materially, including developments in loss trends and adequacy and changes in loss reserves and actuarial assumptions.
About Us:
For 25 years, American Safety Insurance Holdings, Ltd. (NYSE:ASI), a Bermuda holding company, has offered innovative 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. and American Safety Assurance (Vermont), Inc.As a group, ASIa™s insurance subsidiaries and affiliates are rated aAa (Excellent) IX by A.M. Best. For additional information, please visit [ www.asih.bm ].
