American Safety Insurance Holdings, Ltd. yesterday reported a 61 percent increase in net earnings for the three months ended September 30 to $5.4 million, or 50 cents per share, compared to $3.3 million, or 47 cents per diluted share, for the same period of 2005.

The Bermuda-registered insurer said gross premiums written rose four percent to $61.6 million, while net premiums written increased 38 percent to $42.3 million and net premiums earned increased 24 percent to $38.6 million.