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Segment Information (Tables)

3 Months Ended

Mar. 31, 2013


	Three Months Ended March 31, 2013
	Insurance									Other
	E&S			ART			Reinsurance			Run-off			Total
Gross written premiums	$	47,953		$	16,602		$	16,644		$	—		$	81,199
Net written premiums		37,546			9,879			16,644			—			64,069
Net earned premiums		36,541			11,162			14,221			—			61,924
Fee & other income		332			771			—			137			1,240
Losses & loss adjustment expenses		22,028			7,393			8,543			—			37,964
Acquisition & other underwriting expenses		16,595			4,830			4,648			820			26,893

Underwriting profit (loss)		(1,750	)		(290	)		1,030			(683	)		(1,693	)
Net investment income		4,598			1,230			1,670			134			7,632

Pre-tax operating income (loss)		2,848			940			2,700			(549	)		5,939
Net realized gains														1,454
Interest and corporate expenses														1,135

Earnings before income taxes														6,258
Income tax expense														677

Net earnings													$	5,581
Less: Net earnings attributable to the non-controlling interest														88

Net earnings attributable to ASIH, Ltd.													$	5,493

Loss ratio		60.3	%		66.2	%		60.1	%		NM			61.3	%
Expense ratio		44.5	%		36.4	%		32.7	%		NM			41.4	%

Combined ratio⁽²⁾		104.8	%		102.6	%		92.8	%		⁽¹⁾ NM			102.7	%


	Three Months Ended March 31, 2012
	Insurance									Other
	E&S			ART			Reinsurance			Run-off			Total
Gross written premiums	$	38,611		$	21,178		$	13,976		$	—		$	73,765
Net written premiums		30,733			16,143			13,976			—			60,852
Net earned premiums		31,150			16,344			13,919			—			61,413
Fee & other income		—			663			—			17			680
Losses & loss adjustment expenses		18,917			9,987			8,349			28			37,281
Acquisition & other underwriting expenses		13,916			6,388			4,330			862			25,496

Underwriting profit (loss)		(1,683	)		632			1,240			(873	)		(684	)
Net investment income		4,625			1,429			1,621			136			7,811

Pre-tax operating income (loss)		2,942			2,061			2,861			(737	)		7,127
Net realized gains														53
Interest and corporate expenses														1,673

Earnings before income taxes														5,507
Income tax expense														1,106

Net earnings													$	4,401
Less: Net earnings attributable to the non-controlling interest														345

Net earnings attributable to ASIH, Ltd.													$	4,056

Loss ratio		60.7	%		61.1	%		60.0	%		NM			60.7	%
Expense ratio		44.7	%		35.0	%		31.1	%		NM			40.4	%

Combined ratio⁽²⁾		105.4	%		96.1	%		91.1	%		⁽¹⁾ NM			101.1	%

(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.

Financial data about the geographic locations


	United States		Bermuda		Total
March 31, 2013
Income tax expense	$	677	$	—	$	677
Net earnings attributable to American Safety Insurance Holdings, Ltd.	$	944	$	4,549	$	5,493
Assets	$	677,289	$	693,586	$	1,370,875
Equity	$	138,318	$	204,707	$	343,025

	United States		Bermuda		Total
March 31, 2012
Income tax expense	$	1,106	$	—	$	1,106
Net earnings attributable to American Safety Insurance Holdings, Ltd.	$	1,539	$	2,517	$	4,056
Assets	$	687,542	$	611,431	$	1,298,973
Equity	$	108,689	$	233,730	$	342,419

- 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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