The environmental liability insurance market experiences a hard cycle, making coverage unaffordable for most contractors.
American Safety Insurance Holdings, Ltd. (ASIH) was formed in 1986 as a captive insurance company in Bermuda. We were pioneers, providing insurance solutions to environmental remediation businesses in the United States at a time when insurance coverage for these risks was virtually unavailable.
American Safety Risk Retention Group, Inc. is formed under the Liability Risk Retention Act of 1986 to write environmental liability insurance.
American Safety Insurance Services, Inc (then called EMIS) was formed as a program administrator for American Safety RRG, and hired the company’s first full-time employees.
American Safety Casualty Insurance Co., an Oklahoma-based admitted carrier, is acquired.
A.M. Best assigns the American Safety Insurance Group of Companies an “A” (Excellent) rating, which the company has maintained since this date.
ASIH completes its initial public offering.
ASIH is listed on the NYSE, trading under the ticker symbol “ASI”.
American Safety Indemnity Co., an Oklahoma-based excess & surplus lines carrier is acquired.
ASIH raises more than $50 million through two private trust preferred offerings and a secondary common public stock offering.
American Safety Assurance, Ltd. is formed in Bermuda as a segregated cell captive.
ASIH raises $25 million in capital through a trust preferred offering.
ASI celebrates 20 years of providing innovative insurance solutions for underserved risks.
ASIH completes a secondary public offering, raising $53 million in additional capital to support the Company’s growth initiatives.
American Safety Insurance Services began a product diversification strategy resulting in five new products.
American Safety Reinsurance Ltd. acquired a team of underwriters and actuary to begin offering third-party assumed reinsurance for specialty risks.
ASIH acquired LTC Risk Management to expand product base and penetrate the healthcare market.
ASI acquires Victore Insurance and expands surety operations in the midwest.
A professional liability line is launched.
ASI Celebrates 25 years of providing solutions for specialty risks.