| American Safety Insurance Group, Ltd. | |||
| Proposed Ticker: | AMSF | 44 Church Street | |
| Exchange: | NASDAQ-National Market | Hamilton, BERMU HM HX | |
| Industry: | Financial (SIC Code 6411) | 4412955688 | |
| # of Employees: | 41 | ||
| Type of Shares: | Common Shares | Filing Date: | 12/19/97 | |
| U.S. Shares Filed: | 2,700,000 | Filing Range: | $11.00 - $13.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $32,400,000 | |
| Primary Shares: | 2,700,000 | Expenses: | - | |
| Secondary Shares: | 0 | Shares Out After: | 5,625,230 |
| Manager | Tier | Phone |
| Advest, Inc. | Lead Manager | (860) 509-2177 |
| Hoefer & Arnett | Co-manager | (415) 362-7160 |
| J.C. Bradford & Co. | Co-manager | (615) 748-9347 |
| Issuer's Law Firm: | Womble Carlyle Sandridge & Rice |
| Bank's Law Firm: | Alston & Bird |
| Auditor: | KPMG Peat Marwick |
| Registrar/Transfer Agent: | SunTrust Bank of Atlanta |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 9/30/97 | 9/30/96 | 9/30/97 | ||
| Revenue: | $8.91 | $10.35 | $6.28 | Assets: | $42.17 |
| Net Income: | $2.92 | $2.22 | $2.06 | Curr Assets: | |
| EPS: | $0.98 | $0.75 | $0.69 | Liabilities: | $21.45 |
| Prior EPS: | $1.07 | $6.39 | $1.39 | Curr Liabilities: | |
| Cash Flow/Oper: | $3.60 | $1.55 | -$0.77 | Equity: | $20.72 |
| Cash Flow/Fin: | -$0.77 | -$8.79 | -$2.92 | Cash: | $2.43 |
| Cash Flow/Inv: | -$2.75 | -$8.79 | |||
| Business Description |
| The company is a specialty insurance holding company that develops, underwrites, manages and markets primary casualty insurance and reinsurance programs in the alternative insurance market. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for to increase the company's capital and surplus, which will result in a higher financial size rating from A.M. Best, to fund the potential acquisition or formation of an excess and surplus lines insurance company or other strategic acquisitions, and for general corporate purposes. |