American Safety Insurance Holdings, Ltd. Receives Financial Size Category Increase from A.M. Best.HAMILTON, Bermuda -- American Safety Insurance Holdings, Ltd. (NYSE NYSE See: New York Stock Exchange : ASI ASI, n See Anxiety Sensitivity Index. ) announced today that the A.M. Best Company has increased its financial size category from VII to VIII, which designates companies whose adjusted policyholder surplus totals between $100 and $250 million. The financial size increase applies to all of the American Safety Insurance Group of Companies, consisting of: American Safety Casualty Insurance Co.; American Safety Indemnity Co.; 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.; and ASI's non-subsidiary affiliate, American Safety Risk Retention Group, Inc. Commenting on the upgrade, Stephen R. Crim, President and Chief Executive Officer of American Safety Insurance Holdings, Ltd., said, "We are pleased to receive the financial size increase to a size VIII. This achievement, combined with our "A" (Excellent) rating, ensures ASI's continued competitiveness within our established markets and opens the door for increased producer relationships. Over the past few years, we have diligently dil·i·gent adj. Marked by persevering, painstaking effort. See Synonyms at busy. [Middle English, from Old French, from Latin d worked to increase our capital and further strengthen our balance sheet, and are pleased that A.M. Best, the leading insurance industry rating service, has recognized this accomplishment." Additional information on Best's ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. can be found at www.ambest.com. American Safety Insurance Holdings, Ltd. is a specialty insurance holding company which, through its subsidiaries, provides innovative insurance solutions 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 , contracting and other specialty risks. Additional information about ASI can be found at http://www.americansafetyinsurance.com. This press release contains 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. . 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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