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): December 3, 2007

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 8.01. Other Events.

The Registrant issued a press release announcing that the Company’s Board of Directors has approved the repurchase of up to 500,000 shares of the Company’s outstanding common stock. The timing, price and volume of repurchases will be based on market conditions, relevant securities laws and other factors.

A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K 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 December 3, 2007. The information set forth under Item 8.01 and in Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

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:  December 3, 2007	By:	/s/ Stephen R. Crim
	Stephen R. Crim
	President/CEO

EX-99.1

Exhibit 99.1

American Safety Insurance Holdings, Ltd.
Board of Directors Authorizes Stock Repurchase Program

HAMILTON, Bermuda—December 3, 2007- American Safety Insurance Holdings, Ltd, (NYSE: ASI) announced today that the Company’s Board of Directors has approved the repurchase of up to 500,000 shares of the Company’s outstanding common stock. The timing, price and volume of repurchases will be based on market conditions, relevant securities laws and other factors. Repurchases may be made from time to time on the open market or in privately negotiated block transactions. The repurchase program does not require the Company to repurchase any shares, or any specific number of shares, and may be terminated by the Company at any time.

About ASI:
American Safety Insurance Holdings, Ltd. (NYSE:ASI), a Bermuda-based holding company, offers innovative insurance solutions in the alternative insurance market for environmental remediation, contracting and other specialty risks through its program administrator, American Safety Insurance Services, Inc., and insurance company subsidiaries American Safety Casualty Insurance Company, American Safety Indemnity Company and American Safety Risk Retention Group, Inc., which, as a group, are rated “A” (Excellent) VIII by A.M. Best.

Contacts:
American Safety Insurance Services, Inc.	American Safety Insurance Services, Inc.
Investor Relations	Media Relations
William Tepe	Julie McDonald
btepe@amsafety.com	jmcdonald@amsafety.com
(770) 916-1908	(770) 916-1908