-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 YqrN0fA90pzOByhB4I7tjw==

<SEC-DOCUMENT>0000783603-06-000052.txt : 20060717
<SEC-HEADER>0000783603-06-000052.hdr.sgml : 20060717
<ACCEPTANCE-DATETIME>20060717151029
ACCESSION NUMBER:		0000783603-06-000052
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060717
FILED AS OF DATE:		20060717
DATE AS OF CHANGE:		20060717

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN SAFETY INSURANCE HOLDINGS LTD
		CENTRAL INDEX KEY:			0000783603
		STANDARD INDUSTRIAL CLASSIFICATION:	INSURANCE AGENTS BROKERS & SERVICES [6411]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		44 CHURCH STREET
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM HX
		BUSINESS PHONE:		4412968560

	MAIL ADDRESS:	
		STREET 1:		44 CHURCH STREET
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM HX

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN SAFETY INSURANCE GROUP LTD
		DATE OF NAME CHANGE:	19971218

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MATHIS STEVEN B
		CENTRAL INDEX KEY:			0001244809

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14795
		FILM NUMBER:		06964797

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		441 295 5688

	MAIL ADDRESS:	
		STREET 1:		44 CHURCH ST
		STREET 2:		P O BOX HM2064
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			99999
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>mathis4a_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2006-07-17</periodOfReport>

    <dateOfOriginalSubmission>2006-03-31</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000783603</issuerCik>
        <issuerName>AMERICAN SAFETY INSURANCE HOLDINGS LTD</issuerName>
        <issuerTradingSymbol>ASI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001244809</rptOwnerCik>
            <rptOwnerName>MATHIS STEVEN B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1801 URQUART</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MARIETTA</rptOwnerCity>
            <rptOwnerState>GA</rptOwnerState>
            <rptOwnerZipCode>30068</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Treasurer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1250</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Share Options (to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>16.40</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-03-15</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2006-03-15</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>16.40</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2007-03-15</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2016-03-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>ASI</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeHolding>
            <securityTitle>
                <value>Share Options (to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>16.72</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2006-09-22</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-09-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>ASI</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Share Options (to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>13.67</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2005-01-21</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-01-21</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>ASI</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>9000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>9000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Share Options (to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>8.57</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2008-06-19</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2013-06-19</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>ASI</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Share Options (to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6.75</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2006-01-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-01-30</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>ASI</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>8000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Share Options (to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>8.85</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2005-01-18</value>
            </exerciseDate>
            <expirationDate>
                <value>2012-01-18</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>ASI</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Share Options (to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6.00</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2003-06-23</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-06-23</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>ASI</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Share Options ( to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>9.50</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2002-02-12</value>
            </exerciseDate>
            <expirationDate>
                <value>2009-02-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>ASI</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Share Options (to but)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>11.00</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2001-02-12</value>
            </exerciseDate>
            <expirationDate>
                <value>2008-02-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>ASI</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Options vest equally over a three year period begining on the anniversary date of the date of grant.</footnote>
        <footnote id="F2">Options vest 100% on June 19, 2008.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Steven B. Mathis</signatureName>
        <signatureDate>2006-07-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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