American Safety Insurance Holdings, Ltd. Announces the Election of Steven L. Groot to Board of Directors.HAMILTON, Bermuda -- American Safety Insurance Holdings, Ltd. (NYSE:ASI) announced today that Steven L. Groot was elected to serve on its Board of Directors. "We are pleased to have a professional with such an extensive background in a variety of facets of insurance operations, including strategic planning, actuarial and information technology, join our Board," said Stephen R. Crim, President and Chief Executive Officer of American Safety Insurance Holdings, Ltd. "We have outlined an effective plan for growth for our Company, and we believe that Mr. Groot brings a wealth of knowledge and experience which will contribute to our continued success." Mr. Groot joins American Safety Insurance Holdings, Ltd. with more than 35 years of experience with Allstate Insurance Company in Northbrook, Ill. From 2000-2002, he served as President of Direct Distribution and e-Commerce, where he was responsible for expanding the core auto and homeowners business and integrating all customer service and agency support services. From 1998-2000, Mr. Groot was President of Allstate International, and oversaw foreign operations totaling more than $1 billion. Prior to that, Mr. Groot was President of Allstate Indemnity from 1989-1998, and grew the company dramatically through innovative marketing and product development. From 1970 to 1989, Mr. Groot served in a variety of management roles at various Allstate subsidiaries in the areas of operations, finance, actuarial, marketing, strategy and planning. Mr. Groot received a Bachelor of Science in Business Administration from Michigan Technological University and studied law at Lincoln University in San Jose, Calif. He is a member of the American Academy of Actuaries, a fellow of the Casualty Actuarial Society, and was admitted to the California State Bar Association. He currently serves on the Board of Directors of CEM Insurance Company; as Chairman of the Board of Trustees of Lawrence Hall Youth Services in Chicago; and as a member of the National Advisory Board of the School of Business and Economics at Michigan Technological University. About Us: American Safety Insurance Holdings, Ltd. (NYSE:ASI), a Bermuda-based holding company, offers innovative insurance solutions in the alternative insurance market for environmental remediation, contracting and other specialty risks through its program administrator, American Safety Insurance Services, Inc., and insurance company subsidiaries American Safety Casualty Insurance Company, American Safety Indemnity Company and American Safety Risk Retention Group, Inc., which, as a group, are rated "A" (Excellent) VIII by A.M. Best. This press release contains forward-looking statements. These forward-looking statements reflect the Company's current views with respect to future events and financial performance. Forward-looking statements involve risks and uncertainties which may cause actual results to differ materially, and are subject to change based on various factors. For additional factors, which could influence the results of the Company's operating and financial performance, see the Company's filings with the Securities and Exchange Commission. |
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