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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
_________________
Date of Report: January 13, 2000
AMERICAN SAFETY INSURANCE GROUP, LTD.
(Exact name of Registrant as specified in its charter)
Bermuda 1-14795 Not applicable
(State of incorporation (Commission File (I.R.S. Employer
or organization) Number) Identification No.)
44 Church Street (441) 296-8560
P.O. Box HM 2064 (Registrant's telephone
Hamilton, HM HX Bermuda number)
(Address of principal
executive offices)
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Item 5. Other Events.
American Safety Holdings Corp., the United States insurance holding company
subsidiary of the Registrant has acquired (i) the stock of L&W Holdings, Inc.
and its wholly-owned subsidiary, RCA Syndicate #1, Ltd., an Illinois licensed
insurance carrier operating on the INEX (formerly the Illinois Insurance
Exchange), and (ii) the stock of Principal Management, Inc., an insurance
program development and management group headquartered in Okemos, Michigan. In a
related transaction, the Registrant has acquired the stock of Pegasus Insurance,
a Cayman Islands licensed insurance carrier. The transactions were structured as
stock acquisitions, with the consideration paid by American Safety to the
sellers consisting of $3,500,000 plus 200,000 American Safety common shares and
earnout provisions for up to an additional 254,000 American Safety common shares
over a five-year period.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized, on January 18, 2000.
American Safety Insurance Group, Ltd.
By: /s/_________________________________
Lloyd A. Fox, President
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