Exhibit 11

American Safety Insurance Holdings, Ltd. and subsidiaries

Computation of Earnings Per Share

	Three Months Ended June 30,				Six Months Ended June 30,
	2010		2009		2010		2009
Basic: Earnings available to common shareholders	$	6,163	$	6,919	$	12,670	$	12,464
Weighted average common shares outstanding		10,246,100		10,302,511		10,288,718		10,294,390
Basic earnings per common share	$	0.60	$	0.67	$	1.23	$	1.21
Diluted: Earnings (loss) available to common Shareholders	$	6,163	$	6,919	$	12,670	$	12,464
Weighted average common shares Outstanding		10,246,100		10,302,511		10,288,718		10,294,390
Weighted average common shares equivalents associated with options and restricted stock		343,609		221,000		328,238		221,001
Total weighted average common shares for diluted purposes		10,589,708		10,523,511		10,616,956		10,515,391
Diluted earnings per common Share	$	0.58	$	0.66	$	1.19	$	1.19