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Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues:        
Direct earned premiums $ 60,595 $ 60,801 $ 121,123 $ 118,456
Assumed earned premiums 15,259 13,851 29,124 25,135
Ceded earned premiums (13,837) (15,502) (26,818) (30,073)
Net earned premiums 62,017 59,150 123,429 113,518
Net investment income 7,402 8,050 15,214 15,486
Realized gains (losses) (13) 194 39 11,302
Fee income 717 786 1,385 1,651
Other income 12 12 25 23
Total revenues 70,135 68,192 140,092 141,980
Expenses:        
Losses and loss adjustment expenses 40,819 39,869 78,100 82,129
Acquisition expenses 14,337 13,239 29,081 24,994
Other underwriting expenses 12,013 10,171 22,764 20,370
Interest expense 367 354 785 740
Corporate and other expenses 848 1,026 2,104 1,852
Total expenses 68,384 64,659 132,834 130,085
Earnings before income taxes 1,751 3,533 7,258 11,895
Income tax (benefit) expense (234) (549) 872 (581)
Net earnings 1,985 4,082 6,386 12,476
Less: Net earnings (loss) attributable to the non-controlling interest (182) 30 163 523
Net earnings attributable to American Safety Insurance Holdings, Ltd. $ 2,167 $ 4,052 $ 6,223 $ 11,953
Net earnings per share:        
Basic $ 0.21 $ 0.39 $ 0.61 $ 1.15
Diluted $ 0.21 $ 0.38 $ 0.59 $ 1.11
Weighted average number of shares outstanding:        
Basic 10,256,634 10,429,188 10,238,667 10,436,848
Diluted 10,555,222 10,764,542 10,544,627 10,776,398