Bermuda-based holding company American Safety Insurance Holdings Ltd. has revealed that William Tepe, the company's chief financial officer (CFO) has resigned to pursue other interests.

The resignation is effective immediately.

"Bill has been a valuable asset to American Safety Insurance and we greatly appreciate his hard work and dedication to the company," said Stephen Crim, president and CEO. "We wish him the best in his future endeavours and will begin a search for a new CFO immediately in order to fill this position on a permanent basis as quickly as possible."