EX-11 2 exh11.htm COMPUTATION OF EARNINGS PER SHARE exh11.htm

Exhibit 11



American Safety Insurance Holdings, Ltd. and subsidiaries
Computation of Earnings Per Share
(Dollars in thousands except per-share data)


   
Three Months Ended
March 31,
  
   
2010
    
2009
  
 
Basic:
Earnings (loss) available to common shareholders
   $ 6,507     $ 5,545  
 
Weighted average common shares outstanding
     10,331,810       10,286,089  
                 
 
Basic earnings per common share
   $ 0.63     $ 0.54  
                 
 
Diluted:
Earnings (loss) available to common Shareholders
   $ 6,507     $ 5,545  
 
 
Weighted average common shares
Outstanding
     10,331,810       10,286,089  
 
 
Weighted average common shares
equivalents associated with options and restricted stock
     312,697       188,879  
 
 
Total weighted average common shares for diluted purposes
     10,644,507       10,474,968  
                 
 
Diluted earnings per common Share
   $ 0.61     $ 0.53