ASI » Topics » Item 2.02. Results of Operations and Financial Condition

This excerpt taken from the ASI 8-K filed Jul 29, 2009.

Item 2.02.    Results of Operations and Financial Condition

On July 29, 2009, the Registrant issued a press release reporting its financial results for the quarter ended June 30, 2009.

A copy of the press release is attached as Exhibit 99.1 and is hereby incorporated herein by reference.

Item 9.01.

Financial Statements and Exhibits.

 

(d)

Exhibits.  The following exhibit is being furnished herewith:

 

 

Exhibit No.

Description

 

99.1

Press Release of American Safety Insurance Holdings, Ltd. issued July 29, 2009 announcing financial results for the quarter ended June 30, 2009. 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

AMERICAN SAFETY INSURANCE HOLDINGS, LTD.

 

Registrant

Date:  July 29, 2009

By:

/s/ Stephen R. Crim

 

 

Stephen R. Crim

 

 

President/CEO

 

 

 

 

 

This excerpt taken from the ASI 8-K filed Apr 28, 2009.

Item 2.02.    Results of Operations and Financial Condition

On April 28, 2009, the Registrant issued a press release reporting its financial results for the quarter ended March 31, 2009.

A copy of the press release is attached as Exhibit 99.1 and is hereby incorporated herein by reference.

Item 9.01.

Financial Statements and Exhibits.

 

(d)

Exhibits.  The following exhibit is being furnished herewith:

 

 

Exhibit No.

Description

 

99.1

Press Release of American Safety Insurance Holdings, Ltd. issued April 28, 2009 announcing financial results for the quarter ended March 31, 2009. 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

AMERICAN SAFETY INSURANCE HOLDINGS, LTD.

 

Registrant

Date:  April 28, 2009

By:

/s/ Stephen R. Crim

 

 

Stephen R. Crim

 

 

President/CEO

 

 

 

 

 

This excerpt taken from the ASI 8-K filed Mar 4, 2009.

Item 2.02.    Results of Operations and Financial Condition

On March 4, 2009, the Registrant issued a press release reporting its financial results for the quarter and year ended December 31, 2008.

A copy of the press release is attached as Exhibit 99.1 and is hereby incorporated herein by reference.

Item 9.01.

Financial Statements and Exhibits.

 

(d)

Exhibits.  The following exhibit is being furnished herewith:

 

 

Exhibit No.

Description

 

99.1

Press Release of American Safety Insurance Holdings, Ltd. issued March 4, 2009 announcing financial results for the quarter and year ended December 31, 2008. 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

AMERICAN SAFETY INSURANCE HOLDINGS, LTD.

 

Registrant

Date:  March 4, 2009

By:

/s/ Stephen R. Crim

 

 

Stephen R. Crim

 

 

President/CEO

 

 

 

 

 

This excerpt taken from the ASI 8-K filed Oct 27, 2008.

Item 2.02.    Results of Operations and Financial Condition

On October 27, 2008, the Registrant issued a press release reporting its financial results for the quarter and nine months ended September 30, 2008.

A copy of the press release is attached as Exhibit 99.1 and is hereby incorporated herein by reference.

Item 5.02.

Departure of Directors or Certain Officers.

Joseph F. Fisher, a member of the Board of Directors and Audit Committee of the Registrant, has accepted the position of Chief Financial Officer of an insurance company. Effective October 24, 2008, Mr. Fisher resigned from the Board of Directors of the Registrant as a result of his new position. Mr. Fisher’s resignation is not the result of any disagreement with or issue concerning the Registrant.

Item 8.01

Other Events

American Safety Insurance Services, Inc., a wholly-owned subsidiary of the Registrant and the Registrant’s U.S. program development and management company (the “Company”), has renewed the core casualty reinsurance agreement effective as of September 1, 2008, with a term of one year, on behalf of American Safety Indemnity Company and American Safety Casualty Insurance Company, the Registrant’s U.S. insurance subsidiaries, and American Safety Risk Retention Group, Inc., the Registrant’s non-subsidiary affiliate. The reinsurance agreement entered into last year simplified the reinsurance structure, reduced the number of reinsurance agreements, allowed the program business line to write new programs without having to enter the reinsurance market to purchase reinsurance for each program and allowed for ease of placement for new casualty products falling within the treaty guidelines. The agreement also provided protection from the impact of multiple and clash events. The reinsurers party to the agreement are: AXIS (US); The Faraday Syndicate; Folksamerica Reinsurance Company; Liberty Mutual Syndicate; Max Re Ltd.; Munich Reinsurance America, Inc.; Partner Reinsurance Company; QBE Reinsurance Corporation and Swiss Re Underwriters, with participations varying from 5% to 25% depending on the reinsurer and the area of coverage. The cost of the reinsurance provided by the renewal varies based on premium and the area of coverage and will be adjusted after the end of the renewal term.

The Company chose to non-renew the $250,000 excess of $250,000 layer applicable to the specialty program line in which 50% of the risk was ceded to reinsurers in the original agreement as experience indicated that ceding that layer was not cost-effective. The renewal provides four areas of coverage on essentially an as expiring basis, summarized as follows:

Casualty Lines – $4.5 million excess of $500,000, with 92.5% of the risk ceded to the reinsurers and covering all casualty lines other than surety, commercial umbrella and excess, including construction, products, specialty programs, and the casualty portion of package business.   

 

 



 

 

Environmental -  $4.5 million excess of $500,000, with 62.5% of the risk ceded to the reinsurers. Premium on this layer for environmental is structured as a swing rate plan, which adjusts up or down subject to a minimum and maximum premium based on losses to the layer.

Casualty Lines - $6.0 million excess of $5.0 million atop the environmental lines layer (above), with 100% of the risk ceded to the reinsurers and covering the environmental line and limits in excess of $5.0 million written in the umbrella and excess lines.    

Umbrella and Excess - $5 million quota share placed on a cessions basis for umbrella and excess business with 87.75% of the risk ceded to reinsurers on policies written over our primary general liability policies and with 78% of the risk ceded on policies written over other insurers’ policies.

Item 9.01.

Financial Statements and Exhibits.

 

(d)

  Exhibits.  The following exhibit(s) is (are) being furnished herewith:

 

 

Exhibit No.

Description

 

99.1

Press Release of American Safety Insurance Holdings, Ltd. issued October 27, 2008 announcing financial results for the quarter and nine-months ended September 30, 2008. 

The information set forth under Item 8.01 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

AMERICAN SAFETY INSURANCE HOLDINGS, LTD.

 

Registrant

Date:  October 27, 2008

By:

/s/ Stephen R. Crim

 

 

Stephen R. Crim

 

 

President/CEO

 

 

 

 

 

This excerpt taken from the ASI 8-K filed Oct 1, 2008.

Item 2.02.     Results of Operations and Financial Condition.

On October 1, 2008, the Registrant issued a news release providing information on the impact of recent market events. A copy of the news release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

 

In accordance with general instruction B.2 to Form 8-K, the information set forth in this Item 2.02 (including Exhibit 99.1) shall be deemed "furnished" and not "filed" with the Securities and Exchange Commission for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended.

Item 9.01.

Financial Statements and Exhibits.

 

(d)

Exhibits.  The following exhibit is being furnished herewith:

 

 

Exhibit No.

Description

 

99.1

Press Release of American Safety Insurance Holdings, Ltd. issued October 1, 2008. 

 

 



 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

AMERICAN SAFETY INSURANCE HOLDINGS, LTD.

 

Registrant

Date: October 1, 2008

By:

_______________________________

 

 

Stephen R. Crim

 

 

President/CEO

 

 

 

 

 

This excerpt taken from the ASI 8-K filed Jul 30, 2007.

Item 2.20. Results of Operations and Financial Condition.

On July 30, 2007, the Registrant issued a press release reporting its financial results for the quarter and six-months ended June 30, 2007.

A copy of the press release is attached as Exhibit 99.1 and is hereby incorporated herein by reference.

This excerpt taken from the ASI 8-K filed Apr 30, 2007.

Item 2.02. Results of Operations and Financial Condition.

       The Registrant issued a press release reporting its financial results for the quarter ending March 31, 2007

       A copy of the press release is hereby attached as Exhibit 99.1 and incorporated herein by reference.

This excerpt taken from the ASI 8-K filed Feb 28, 2007.

Item 2.02. Results of Operations and Financial Condition.

       The Registrant issued a press release reporting its financial results for the quarter and year ending December 31, 2006.

       A copy of the press release is hereby attached as Exhibit 99.1 and incorporated herein by reference.

This excerpt taken from the ASI 8-K filed Nov 1, 2006.

Item 2.02. Results of Operations and Financial Condition.

The Registrant issued a press release reporting its financial results for the quarter ending September 30, 2006. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

This excerpt taken from the ASI 8-K filed Aug 2, 2006.

Item 2.02. Results of Operations and Financial Condition.

                The Registrant issued a press release reporting its financial results for the quarter ending June 30, 2006. A copy of the press release is hereby attached as Exhibit 99.1 and incorporated herein by reference.

This excerpt taken from the ASI 8-K filed Apr 26, 2006.

Item 2.02. Results of Operations and Financial Condition.

                The Registrant issued a press release reporting its financial results for the quarter ending March 31, 2006. A copy of the press release is hereby attached as Exhibit 99.1 and incorporated herein by reference.

This excerpt taken from the ASI 8-K filed Nov 2, 2005.

Item 2.02. Results of Operations and Financial Condition.

        The Registrant issued a press release reporting its financial results for the third quarter 2005. A copy of the press release is hereby attached as Exhibit 99.1 and incorporated herein by reference.

This excerpt taken from the ASI 8-K filed Aug 3, 2005.

Item 2.02. Results of Operations and Financial Condition.

        The Registrant issued a press release reporting its financial results for the second quarter 2005. A copy of the press release is hereby attached as Exhibit 99.1 and incorporated herein by reference.

This excerpt taken from the ASI 8-K filed May 5, 2005.

Item 12. Results of Operations and Financial Condition.

        The Registrant issued a press release reporting its financial results for the first quarter 2005. A copy of the press release is hereby attached as Exhibit 99.1 and incorporated herein by reference.

        The information set forth under this Item 12 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

                                                   SIGNATURES


         Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this
report to be signed on its behalf by the undersigned hereunto duly authorized.

                                            AMERICAN SAFETY INSURANCE HOLDINGS, LTD.
                                                        (Registrant)


Dated:            May 5, 2005               By:      /s/Stephen R. Crim
                                                     Stephen R. Crim
                                                     President and Chief Executive Officer


EXHIBIT INDEX

99.1 Press Release of American Safety Insurance Holdings, Ltd. issued May 5, 2005.
This excerpt taken from the ASI 8-K filed May 4, 2005.

Item 12. Results of Operations and Financial Condition.

        The Registrant issued a press release reporting its financial results for the first quarter 2005. A copy of the press release is hereby attached as Exhibit 99.1 and incorporated herein by reference.

        The information set forth under this Item 12 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

                                                   SIGNATURES


         Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this
report to be signed on its behalf by the undersigned hereunto duly authorized.

                                            AMERICAN SAFETY INSURANCE HOLDINGS, LTD.
                                                        (Registrant)


Dated:            May 4, 2005               By:      /s/Stephen R. Crim
                                                     Stephen R. Crim
                                                     President and Chief Executive Officer


EXHIBIT INDEX

99.1 Press Release of American Safety Insurance Holdings, Ltd. issued May 4, 2005.
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki