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Segment Information (Tables)

12 Months Ended

Dec. 31, 2012


	Twelve Months Ended December 31, 2012
	Insurance									Other
	E&S			ART			Reinsurance			Run-off			Total
Gross written premiums	$	185,948		$	75,590		$	57,706		$	0		$	319,244
Net written premiums		148,297			49,357			57,706			—			255,360
Net earned premiums		138,464			56,466			58,936			—			253,866
Fee & other income		138			3,131			17			79			3,365
Losses & loss adjustment expenses		82,470			47,396			42,063			(231	)		171,698
Acquisition & other underwriting expenses⁽³⁾		61,269			23,508			17,705			3,628			106,110

Underwriting loss		(5,137	)		(11,307	)		(815	)		(3,318	)		(20,577	)
Net investment income		17,615			5,173			6,849			561			30,198

Pre-tax operating income (loss)		12,478			(6,134	)		6,034			(2,757	)		9,621
Net realized gains														9,693
Interest and corporate expenses⁽⁴⁾														5,365

Earnings before income taxes														13,949
Income tax benefit														841

Net earnings													$	13,108
Less: Net earnings attributable to the non-controlling interest														1,269

Net earnings attributable to ASIH, Ltd.													$	11,839

Loss ratio		59.6	%		83.9	%		71.4	%		NM			67.6	%
Expense ratio		44.1	%		36.1	%		30.0	%		NM			40.5	%

Combined ratio⁽²⁾		103.7	%		120.0	%		101.4	%		⁽¹⁾NM			108.1	%


	Twelve Months Ended December 31, 2011
	Insurance									Other
	E&S			ART			Reinsurance			Run-off			Total
Gross written premiums	$	155,534		$	83,820		$	59,192		$	(1	)	$	298,545
Net written premiums		125,107			57,329			58,183			(1	)		240,618
Net earned premiums		119,225			60,667			52,988			(1	)		232,879
Fee & other income (loss)		(4	)		3,203			—			157			3,356
Losses & loss adjustment expenses		60,532			57,130			49,705			2,000			169,367
Acquisition & other underwriting expenses⁽³⁾		50,956			24,988			14,785			3,581			94,310

Underwriting profit (loss)		7,733			(18,248	)		(11,502	)		(5,425	)		(27,442	)
Net investment income		18,572			5,681			6,358			727			31,338

Pre-tax operating income (loss)		26,305			(12,567	)		(5,144	)		(4,698	)		3,896
Net realized gains														10,966
Interest and corporate expenses⁽⁴⁾														4,132

Earnings before income taxes														10,730
Income tax benefit														(3,394	)

Net earnings													$	14,124
Less: Net earnings attributable to the non-controlling interest														3,282

Net earnings attributable to ASIH, Ltd.													$	10,842

Loss ratio		50.8	%		94.2	%		93.8	%		NM			72.7	%
Expense ratio		42.7	%		35.9	%		27.9	%		NM			39.1	%

Combined ratio⁽²⁾		93.5	%		130.1	%		121.7	%		⁽¹⁾NM			111.8	%


	Twelve Months Ended December 31, 2010
	Insurance									Other
	E&S			ART			Reinsurance			Run-off			Total
Gross written premiums	$	138,166		$	88,784		$	50,618		$	(7	)	$	277,561
Net written premiums		114,223			62,366			46,658			(7	)		223,240
Net earned premiums		102,907			53,752			44,081			(7	)		200,733
Fee & other income (loss)		501			3,615			269			(197	)		4,188
Losses & loss adjustment expenses		58,119			34,663			28,880			(1,367	)		120,295
Acquisition & other underwriting expenses⁽³⁾		47,621			22,068			12,810			2,703			85,202

Underwriting profit (loss)		(2,332	)		636			2,660			(1,540	)		(576	)
Net investment income		21,331			4,891			5,231			685			32,138

Pre-tax operating income (loss)		18,999			5,527			7,891			(855	)		31,562
Net realized gains														2,251
Interest and corporate expenses⁽⁴⁾														5,944

Earnings before income taxes														27,869
Income tax benefit														(2,082	)

Net earnings													$	29,951
Less: Net earnings attributable to the non-controlling interest														(557	)

Net earnings attributable to ASIH, Ltd.													$	30,508

Loss ratio		56.5	%		64.5	%		65.5	%		NM			59.9	%
Expense ratio		45.6	%		34.3	%		28.4	%		NM			40.1	%

Combined ratio⁽²⁾		102.1	%		98.8	%		93.9	%		⁽¹⁾NM			100.0	%

(1)	NM = Ratio is not meaningful

(2)	The U.S. GAAP combined ratio is a measure of underwriting performance and represents the relationship of losses and loss adjustment expenses, acquisition and other underwriting expenses net of fee income to earned premiums.

(3)	Reclassifications between divisions and segments were made to allocate indirect corporate overhead costs.

(4)	Excise taxes have been classified as corporate expenses resulting in a reclassification of expenses for prior year.

Financial data about the geographic locations


December 31, 2012	United States		Bermuda		Total
Income tax	$	841	$	—	$	841
Net earnings attributable to American Safety Insurance Holdings, Ltd.	$	60	$	11,779	$	11,839
Assets	$	719,235	$	653,896	$	1,373,131
Equity	$	140,011	$	205,037	$	345,048


December 31, 2011	United States			Bermuda		Total
Income tax	$	(3,394	)	$	—	$	(3,394	)
Net earnings (loss) attributable to American Safety Insurance Holdings, Ltd.	$	(7,029	)	$	17,871	$	10,842
Assets	$	671,619		$	614,913	$	1,286,532
Equity	$	106,689		$	227,991	$	334,680


December 31, 2010	United States			Bermuda		Total
Income tax	$	(2,082	)	$	—	$	(2,082	)
Net earnings attributable to American Safety Insurance Holdings, Ltd.	$	918		$	29,590	$	30,508
Assets	$	652,109		$	569,146	$	1,221,255
Equity	$	99,373		$	219,162	$	318,535

- Definition

Tabular disclosure of the names of foreign countries from which revenue is material and the amount of revenue from external customers attributed to those countries. An entity may also provide subtotals of geographic information about groups of countries.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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