Executive Officers of the Company

The following table provides information regarding the executive officers of the Company. Biographical information for each of such persons is set forth immediately following the table.

38

Stephen R. Crim became President and Chief Executive Officer of the Company in January 2003 and he became President of the Company’s insurance and reinsurance operations effective January 2002. Previously, Mr. Crim had been responsible for various underwriting functions since joining the Company in 1990. Previously, Mr. Crim was employed in the underwriting department of Aetna Casualty and Surety and The Hartford Insurance Co. between 1986 and 1990.

Joseph D. Scollo, Jr. became Executive Vice President and Chief Operating Officer of the Company in January 2006. He was Executive Vice President of the Company from January 2003 through January 2006 and was Senior Vice President-Operations since November 1998. Previously, Mr. Scollo served as senior vice president-operations of United Coastal Insurance Company, New Britain, Connecticut between 1989 and 1998.

William C. Tepe became Chief Financial Officer of American Safety Insurance in November 2005. Prior to joining American Safety Insurance, Mr. Tepe was the Chief Financial Officer for GAB Robins Inc., an international insurance claims management and adjusting company. Mr. Tepe has also been employed in senior financial reporting and accounting positions within major property and casualty insurance companies such as W. R. Berkley Corp. and USF&G Corporation. Mr. Tepe is a certified public accountant.

Randolph L. Hutto became General Counsel and Secretary of the Company in September 2006. Prior to joining the Company, Mr. Hutto served as Executive Vice President, General Counsel and Secretary of NDC Health Corporation, a New York Stock Exchange-listed health care claims processing and information management company, from April 2004 to January 2006 and as Executive Vice President and Chief Financial Officer from November 2000 to April 2004.

39

The following table provides information regarding the executive officers of
the Company. Biographical information for each of such persons is set forth immediately
following the table.

38

Stephen R. Crim became President and Chief
Executive Officer of the Company in January 2003 and he became President of the
Company’s insurance and reinsurance operations effective January 2002. Previously,
Mr. Crim had been responsible for various underwriting functions since joining the Company
in 1990. Previously, Mr. Crim was employed in the underwriting department of Aetna Casualty
and Surety and The Hartford Insurance Co. between 1986 and 1990.

Joseph D. Scollo, Jr. became Executive Vice
President and Chief Operating Officer of the Company in January 2006. He was Executive Vice
President of the Company from January 2003 through January 2006 and was Senior Vice
President-Operations since November 1998. Previously, Mr. Scollo served as senior vice
president-operations of United Coastal Insurance Company, New Britain, Connecticut between
1989 and 1998.

William C. Tepe became Chief Financial Officer
of American Safety Insurance in November 2005. Prior to joining American Safety Insurance,
Mr. Tepe was the Chief Financial Officer for GAB Robins Inc., an international insurance
claims management and adjusting company. Mr. Tepe has also been employed in senior
financial reporting and accounting positions within major property and casualty insurance
companies such as W. R. Berkley Corp. and USF&G Corporation. Mr. Tepe is a certified
public accountant.

Randolph L. Hutto became General Counsel and
Secretary of the Company in September 2006. Prior to joining the Company, Mr. Hutto served
as Executive Vice President, General Counsel and Secretary of NDC Health Corporation, a New
York Stock Exchange-listed health care claims processing and information management
company, from April 2004 to January 2006 and as Executive Vice President and Chief
Financial Officer from November 2000 to April 2004.

39

Executive Officers

        The following summarizes the business experience over the last five years of the Company’s executive officers, other than Mr. Crim, whose business experience is described above in the section entitled “Continuing Class I Directors Whose Terms Expire in 2008.”

        Thomas M. Callahan, age 43, has served as Senior Vice President of the Company since 2006. Mr. Callahan has over 20 years of experience in the reinsurance industry. Prior to joining the Company, Mr. Callahan was Facultative Manager for Odyssey Re from 2001 to 2006 and oversaw the planning and execution of the national marketing strategy for the company’s primary facultative reinsurance unit. He was previously Vice President and Treaty Account Executive for PXRE Corp. from 1999 to 2001, and has served as Branch Manager and Senior Underwriter for Swiss Re America Corp.‘s New York City office from 1996 to 1999. He has also worked as an underwriter for both American Re Corp. and Chubb Insurance Company.

        Randolph L. Hutto, age 58, has served as General Counsel and Secretary of the Company since September 2006. Prior to joining the Company, Mr. Hutto served as Executive Vice President, General Counsel and Secretary of NDC Health Corporation, a New York Stock Exchange-listed health care claims processing and information management company, from April 2004 to January 2006 and as Executive Vice President and Chief Financial Officer from November 2000 to April 2004.

        Steven B. Mathis, age 39, has served as Vice President — Planning and Treasurer since November 2005. Previously, he served as Chief Financial Officer of the Company from August 1998 to November 2005. He also served as the Company’s Controller from 1992 to 1998. Mr. Mathis has over 17 years accounting experience in the insurance industry, having held accounting positions with American Insurance Managers, Inc. and American Security Group.

                                       19

        Joseph D. Scollo, Jr., age 43, has served as Executive Vice President and Chief Operating Officer of the Company since January 2006. Mr. Scollo served as Executive Vice President of the Company since January 2003 and served as Senior Vice President — Operations from 1998. Previously, Mr. Scollo served as Senior Vice President — Operations of United Coastal Insurance Company, New Britain, Connecticut since 1989. Mr. Scollo has over 18 years of experience in the insurance industry. Mr. Scollo holds a certified public accountant certificate.

        William C. Tepe, age 49, has served as Chief Financial Officer of the Company since November 2005. Mr. Tepe has over 25 years of experience in accounting, financial reporting, financial planning and corporate development. Prior to joining the Company, Mr. Tepe was the Chief Financial Officer for GAB Robins Inc., an international insurance claims management and adjusting company from 2000 until 2005. Mr. Tepe also has been employed in senior financial reporting and accounting positions within major property and casualty insurance companies such as W. R. Berkley Corp. and USF&G Corporation. Mr. Tepe is a certified public accountant.

                                       20

Executive Officers of the Company

        The following table provides information regarding the executive officers of the Company. Biographical information for each of such persons is set forth immediately following the table.

    Name                        Age      Position
   Stephen R. Crim              43       President, Chief Executive Officer and Director
   Joseph D. Scollo, Jr.        43       Executive Vice President and Chief Operating Officer
   William C. Tepe              49       Chief Financial Officer
   Randolph L. Hutto            58       General Counsel
   Steven B. Mathis             39       Vice President, Planning and Treasurer
   Thomas M. Callahan           42       Senior Vice President

        Stephen R. Crim became President and Chief Executive Officer of the Company in January 2003 and he became President of the Company’s insurance and reinsurance operations effective January 2002. Previously, Mr. Crim had been responsible for all underwriting functions since joining the Company in 1990. Previously, Mr. Crim was employed in the underwriting department of Aetna Casualty and Surety and The Hartford Insurance Co. between 1986 and 1990.

        Joseph D. Scollo, Jr. became Executive Vice President of the Company in January 2003 and was Senior Vice President — Operations since November 1998. Previously, Mr. Scollo served as senior vice president-operations of United Coastal Insurance Company, New Britain, StateConnecticut between 1989 and 1998.

        William C. Tepe became Chief Financial Officer of American Safety Insurance in November 2005. Prior to joining American Safety Insurance, Mr. Tepe was the Chief Financial Officer for GAB Robins Inc., an international insurance claims management and adjusting company. Mr. Tepe has also been employed in senior financial reporting and accounting positions within major property and casualty insurance companies such as W. R. Berkley Corp. and USF&G Corporation. Mr. Tepe is a certified public accountant.

        Randolph L. Hutto became General Counsel and Secretary of the Company in September 2006. Prior to joining the Company, Mr. Hutto served as Executive Vice President, General Counsel and Secretary of NDC Health Corporation, a New York Stock Exchange-listed health care claims processing and information management company, from April 2004 to January 2006 and as Executive Vice President and Chief Financial Officer from November 2000 to April 2004.

        Steven B. Mathis became Vice President, Planning and Treasurer effective November 2005. Previously, he served as Chief Financial Officer of American Safety Insurance since August 1998. He also served as American Safety Insurance’s Controller from 1992 to 1998. Mr. Mathis has 17 years accounting experience in the insurance industry, having held accounting positions with American Insurance Managers, Inc. and American Security Group.

        Thomas M. Callahan became Senior Vice President of American Safety Insurance Holdings Ltd., and American Safety Re in October, 2006. Prior to joining the Company, Mr. Callahan was, for the last five years, Vice President and National Manager of the Primary Facultative Unit of Odyssey America Reinsurance Corp. Previously Mr. Callahan held management positions at American Reinsurance Corp., Swiss Re America, as well as PXRE Group. Mr. Callahan began his insurance career with The Chubb Group in 1985.

Executive Officers

        The following summarizes the business experience over the last five years of the Company’s executive officers, other than Mr. Crim, whose business experience is described above in the section entitled “Nominees for Election to the Board of Directors.”

        Joseph D. Scollo, Jr., age 42, serves as Executive Vice President and Chief Operating Officer of the Company. Mr. Scollo served as Executive Vice President of the Company since January 2003 and served as Senior Vice President — Operations since November 1998. Previously, Mr. Scollo served as Senior Vice President — Operations of United Coastal Insurance Company, New Britain, Connecticut since 1989. Mr. Scollo has over 17 years of experience in the insurance industry. Mr. Scollo holds a certified public accountant certificate.

        William C. Tepe, age 48, serves as Chief Financial Officer of the Company. Mr. Tepe joined the Company with over 24 years of experience in accounting, financial reporting, financial planning and corporate development. Prior to joining the Company, Mr. Tepe was the Chief Financial Officer for GAB Robins Inc., an international insurance claims management and adjusting company. Mr. Tepe has also been employed in senior financial reporting and accounting positions within major property and casualty insurance companies such as W. R. Berkley Corp. and USF&G Corporation. Mr. Tepe is a certified public accountant.

        Steven B. Mathis, age 38, serves as Vice President — Planning and Treasurer. Previously, he served as Chief Financial Officer of the Company since August 1998. He also served as the Company’s Controller from 1992 to 1998. Mr. Mathis has over 16 years accounting experience in the insurance industry having held accounting positions with American Insurance Managers, Inc. and American Security Group.

Executive Officers

        The following summarizes the business experience over the last five years of the Company’s executive officers, other than Mr. Crim, whose business experience is described above in the section entitled “Nominees for Election to the Board of Directors.”

        Joseph D. Scollo, Jr., age 42, serves as Executive Vice President and Chief Operating Officer of the Company. Mr. Scollo served as Executive Vice President of the Company since January 2003 and served as Senior Vice President — Operations since November 1998. Previously, Mr. Scollo served as Senior Vice President — Operations of United Coastal Insurance Company, New Britain, Connecticut since 1989. Mr. Scollo has over 17 years of experience in the insurance industry. Mr. Scollo holds a certified public accountant certificate.

        William C. Tepe, age 48, serves as Chief Financial Officer of the Company. Mr. Tepe joined the Company with over 24 years of experience in accounting, financial reporting, financial planning and corporate development. Prior to joining the Company, Mr. Tepe was the Chief Financial Officer for GAB Robins Inc., an international insurance claims management and adjusting company. Mr. Tepe has also been employed in senior financial reporting and accounting positions within major property and casualty insurance companies such as W. R. Berkley Corp. and USF&G Corporation. Mr. Tepe is a certified public accountant.

        Steven B. Mathis, age 38, serves as Vice President — Planning and Treasurer. Previously, he served as Chief Financial Officer of the Company since August 1998. He also served as the Company’s Controller from 1992 to 1998. Mr. Mathis has over 16 years accounting experience in the insurance industry having held accounting positions with American Insurance Managers, Inc. and American Security Group.

Executive Officers

        The following summarizes the business experience over the last five years of the Company’s executive officers, other than Mr. Crim, whose business experience is described above in the section entitled “Nominees for Election to the Board of Directors.”

        Joseph D. Scollo, Jr., age 41, serves as Executive Vice President of the Company. Mr. Scollo is responsible for the insurance operations of the Specialty Insurance Division. Prior to joining the Company in 1998, Mr. Scollo served for nine years as Senior Vice President of Operations of United Coastal Insurance Company. Mr. Scollo has over 16 years experience in the insurance industry.

        Steven B. Mathis, age 37, serves as Chief Financial Officer and Treasurer of the Company and has served in such capacities since 1998. He first joined the Company in 1992 as Controller and is currently responsible for all Company accounting and treasury functions. Mr. Mathis has 16 years accounting experience in the insurance industry, having held accounting positions with American Insurance Managers, Inc. and American Security Group.