October 12, 2004
American Safety Insurance Holdings, Ltd. Reports Completion of Actuarial Reserve Evaluation
American Safety Insurance Holdings, Ltd. (NYSE: ASI - News) today reported the completion of its previously announced actuarial reserve evaluation for its excess and surplus lines business. The review was commenced as a result of adverse loss development from a small segment of its excess and surplus business during the second quarter of 2004 and management's concern that existing reserves for this business line might not be adequate.
Posted by Tom Troceen