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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.

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Posted by Tom Troceen