American Safety Insurance Holdings, Ltd. Announces the Hiring of Mr. Guy Cloutier and Expansion of Bermuda ART Capability.HAMILTON, Bermuda -- American Safety Insurance Holdings, Ltd. (NYSE NYSE See: New York Stock Exchange :ASI ASI, n See Anxiety Sensitivity Index. ) announced today that Guy Cloutier Guy Cloutier (born in 1940 in Quebec, Canada) is an entertainment industry producer. Cloutier adapted reality TV to the Quebec market. Entertainers Stéphanie Cloutier and Véronique Cloutier are his daughters, and his son in law is Colorado Avalanche's goaltender José has accepted the position of Senior Vice President of Alternative Risk Solutions and Chief Actuary of 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. "Guy will be responsible for further developing our third-party assumed reinsurance business and alternative risk products" 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. "He brings a wealth of experience to the Company and will be instrumental in the continued growth of our Bermuda business segment according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. our strategic plan." ASI's Bermuda alternative risk strategy will focus on structured reinsurance solutions as a compliment to fronting capabilities through its U.S. insurance company subsidiaries. "We are very well positioned to provide small niche carriers and risk retention groups with the reinsurance solutions they need to grow in the current market conditions," said Mr. Cloutier. Mr. Cloutier has more than 30 years of experience as a senior executive and actuary in the insurance industry with the last seven in the Bermuda market. Prior to joining American Safety Reinsurance, Ltd., Mr. Cloutier was the Principal and Founder of Ordinance Holdings, Ltd., a Bermuda-based reinsurance brokerage and actuarial consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a formed in 2003, specializing in risk analysis and the structuring of reinsurance in the Bermuda market. He was previously Chief Actuary of Imagine Group Holdings, Ltd., and founder and CEO of Canada Direct Insurance, Inc., one of the first direct-sale personal lines insurance companies in Canada. Mr. Cloutier is a Fellow of both the Casualty Actuarial Society The Casualty Actuarial Society (CAS) is a professional society of actuaries. Its members are mainly involved in the property and casualty areas of the actuarial profession. and Canadian Institute of Actuaries The Canadian Institute of Actuaries is the national organization of the actuarial profession in Canada. It was incorporated on March 18, 1965. The FCIA designation stands for Fellow of the Canadian Institute of Actuaries. and received his bachelor's degree in actuarial sciences from Laval University Laval University, at Quebec, Que., Canada; Roman Catholic, coeducational, French language; chartered 1852, an outgrowth of a seminary established 1663 by Bishop Laval. In 1876 a branch was established in Montreal, which in 1919 became independent as the Univ. . Ordinance Holdings Ltd., now owned by American Safety, will continue to operate as an actuarial consulting firm and reinsurance brokerage company. Ordinance's capabilities will be expanded to both take advantage of the growth in the alternative risk market in Bermuda and support ASI's alternative risk and reinsurance strategies. 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 holding company, offers innovative insurance solutions outside the U.S. in the reinsurance and alternative risk markets through its subsidiaries American Safety Reinsurance, Ltd. and American Safety Assurance, Ltd., and in the U.S. for specialty risks and alternative risk markets through its program administrator, American Safety Insurance Services, Inc., and insurance company subsidiaries and affiliates American Safety Casualty Insurance Company, American Safety Indemnity Company and American Safety Risk Retention Group, Inc. As a group, ASI's insurance subsidiaries and affiliates are rated "A" (Excellent) VIII by A.M. Best. |
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