American Safety Insurance Group Approved for Listing on the New York Stock Exchange; New Symbol ASI.HAMILTON Hamilton, city, Bermuda Hamilton, city (1990 est. pop. 3,100), capital of Bermuda, on Bermuda Island. It is a port at the head of Great Sound, a huge lagoon and deepwater harbor protected by coral reefs. , Bermuda--(BUSINESS WIRE)--Jan. 27, 1999--American Safety Insurance Group, Ltd. (Nasdaq/NM:AMSFF) today announced that the Company has been approved for listing on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . It is anticipated that on February 5, 1999, the Company's common stock will begin trading on the New York Stock Exchange under the symbol ASI ASI, n See Anxiety Sensitivity Index. . American Safety Insurance Group currently has 6.1 million shares of common stock outstanding. Commenting on the announcement, Lloyd A. Fox, President and Chief Executive Officer, said, "Listing on the New York Stock Exchange marks a significant milestone for American Safety Insurance Group and highlights the Company's significant progress since our initial public offering just a year ago. We believe the listing will broaden the liquidity of American Safety's shares and further enhance the value of our stock to our shareholders. This action also reflects our intent to establish the most efficient market possible for our shareholders." American Safety Insurance Group, Ltd. is a specialty insurance holding company which, through its subsidiaries, develops, underwrites, manages and markets primary casualty insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. programs in the alternative insurance market for environmental remediation Generally, remediation means providing a remedy, so environmental remediation deals with the removal of pollution or contaminants from environmental media such as soil, groundwater, sediment, or surface water for the general protection of human health and the environment or from a risks, employee leasing and staffing industry risks, and other specialty risks. The Company develops specialty insurance coverages and custom-designed risk management programs not generally available in the standard insurance market. The forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this news release involve risks and uncertainties and are subject to change based on various factors, including competitive conditions in the insurance industry, unpredictable developments in loss trends, changes in loss reserves, market acceptance of new coverages and enhancements, and changes in levels of general business activity and economic conditions. |
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