Bermuda-registered American Safety Insurance Holdings, Ltd. on Friday announced that it has priced its offering of 2.16 million shares of common stock at $13.42 per share on November 20, 2003. The proceeds of the issuance to the company represent new financing.

An additional 72,745 shares are being offered by selling shareholders, the company said.

Morgan Keegan & Company, Inc. acted as the book-running manager, and the co-lead manager was Advest, Inc. American Safety Insurance has granted the underwriters an option to purchase up to an additional 334,911 shares to cover over-allotments.