American Safety Insurance Holdings, Ltd. Announces the Hiring of Thomas M. Callahan as Senior Vice President.HAMILTON, Bermuda -- American Safety Insurance Holdings, Ltd. (NYSE NYSE See: New York Stock Exchange :ASI ASI, n See Anxiety Sensitivity Index. ) announced today that Thomas M. Callahan joined the Company as Senior Vice President of both American Safety Insurance Holdings, Ltd. and its subsidiary company American Safety 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. , Ltd. Mr. Callahan brings more than 20 years of experience in the reinsurance industry to American Safety Reinsurance, Ltd., and has worked extensively in the casualty reinsurance area. "Tom will be responsible for evaluating and enhancing the ceded reinsurance arrangements among the American Safety Insurance Group of Companies to support the growth plans and capital management strategies that we outlined during our 2006 public stock offering," said Stephen R. Crim, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American Safety Insurance Holdings, Ltd. "Additionally, he has the background needed to selectively develop third party assumed reinsurance business for the Company in Bermuda, providing further opportunities for growth." Prior to joining American Safety Reinsurance, Ltd., Mr. Callahan was with Odyssey Re as Facultative Manager 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., and has served as Branch Manager and Senior Underwriter for Swiss Re Swiss Re is the world’s largest reinsurer, now that it has acquired GE Insurance Solutions (Ligi 2006). Founded in 1863, Swiss Re now operates in more than 30 countries. General Electric owns 8.9% of the firm. America Corp.'s New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. office. He has also worked as an underwriter for both American Re Corp. and Chubb Insurance Company. Mr. Callahan received a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies in Finance from Fairfield University Publications and Media
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. 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. |
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