8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): July 1, 2009

AMERICAN SAFETY INSURANCE HOLDINGS, LTD.

(Exact name of registrant as specified in its charter)

Bermuda (State or Other Jurisdiction of Incorporation or Organization) 001-04795 (Commission File Number) Not applicable (I.R.S. Employer Identification No.)

The Boyle Building, 2nd Floor

31 Queen Street

Hamilton, Bermuda HM 11

(Address of principal executive offices, including zip code)

(441) 296-8560

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) 12 under the Securities Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) 12 under the Securities Act (17 CFR 240.13e-2(c))

Item 8.01Other Events

On July 1, 2009 American Safety Casualty Insurance Company, a wholly owned subsidiary of the Registrant, completed the acquisition for cash of Victore Insurance Company, an Oklahoma domiciled admitted insurer. As a part of the transaction, American Safety Casualty Insurance Company also acquired Victore Enterprises, Inc., an Oklahoma-based holding company, and Agency Bonding Company, an Oklahoma-based insurance agency. Victore Insurance Company provides contract surety for contractors and sub-contractors as well as other types of bonds.

The Registrant issued a press release concerning the acquisition on July 1, 2009, a copy of which is attached as Exhibit 99.1 and is hereby incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.  The following exhibit is being furnished herewith:

Exhibit No. Description

99.1 Press Release of American Safety Insurance Holdings, Ltd. issued July 1, 2009.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

	AMERICAN SAFETY INSURANCE HOLDINGS, LTD.
	Registrant
Date:  July 1, 2009	By:	___/s/ Stephen R. Crim______
		Stephen R. Crim
		President/CEO

EX-99

Exhibit 99.1

 

American Safety Insurance Holdings, Ltd.

Announces Acquisition of Victore Insurance Company

Hamilton, BERMUDA (July 1, 2009) – American Safety Insurance Holdings, Ltd. (NYSE:ASI) announced today that its wholly-owned subsidiary, American Safety Casualty Insurance Company (ASCIC), has acquired, for cash, Victore Insurance Company (VIC), an Oklahoma domiciled admitted insurance company based in Oklahoma City, providing customized bonding solutions for the surety bond industry. VIC specializes in contract surety for general contractors and sub-contractors, and also provides other types of bonds such as oil and gas, court, and license and permit bonds. In conjunction with the purchase of VIC, ASCIC also acquired Victore Enterprises, Inc., an Oklahoma based holding company, and Agency Bonding Company, Inc., an Oklahoma based insurance agency specializing in providing surety agency services, primarily for VIC (together with VIC collectively referred to as the Victore Companies). ASI does not expect the acquisition to have a material impact on its 2009 earnings.

Victore was formed in 1986 to address the requirements of many Oklahoma contractors whose bonding needs were not being met adequately by the standard market. Standard surety underwriters considered many Oklahoma contractors and sub-contractors as too small and thus were unwilling to offer products to meet their needs.

“The financial strength of ASI will allow Victore to expand the success we achieved in Oklahoma over the past 23 years to other Midwestern states and give us access to enhanced distribution channels,” said Altus E. Wilder, III, Chairman and CEO of the Victore Companies. “Similar to ASI, our company was built on filling the needs of an underserved market making our existing corporate philosophy a fit with ASI’s solution-oriented culture.”

“We are excited to have Al and his team join the ASI family. With this acquisition, we have added a talented team of professionals with a profitable track record in the surety business,” said Stephen R. Crim, President and CEO of American Safety Insurance Holdings, Ltd. “The addition of the Victore business segment to ASI’s array of insurance products serves to complement the Company’s strategic initiative, which includes growing our surety product line, and will enhance our geographical presence in the Midwest. We expect the addition of the Victore Companies to add approximately $2 million to our 2009 surety gross written premiums and $4 - $5 million to our 2010 surety gross written premiums.”

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, American Safety Risk Retention Group, Inc. and American Safety Assurance (Vermont), Inc. As a group, ASI’s insurance subsidiaries and affiliates are rated "A" (Excellent) VIII by A.M. Best. For additional information, please visit www.asih.bm.

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Contact:

Julie L. McDonald	Steve Crim
American Safety Insurance Services, Inc	American Safety Insurance Holdings, Ltd
Media Relations	Investor Relations
jmcdonald@amsafety.com	scrim@amsafety.com
(770) 485-4310	(800) 388-3647