of an Oklahoma-based, Trafalgar Insurance Company.

Trafalgar Insurance Company's stock was acquired from Houston Casualty Company for a purchase price of $16.3 million by the Bermuda-based firm and it has been renamed American Safety Indemnity Company.

Prior to closing, Trafalgar entered into a bulk assumption reinsurance agreement with Houston Casualty, under which Houston Casualty assumed all of Trafalgar's prior and existing business.

At closing, Trafalgar had in excess of $15 million of capital and surplus.

ASI President and Chief Executive Officer Lloyd Fox said: "We are pleased to complete this acquisition, which gives American Safety the ability to continue its expansion of insurance products and services into the excess and surplus lines.'' The acquisition of Trafalgar completes American Safety's ability to offer insurance products and services through its US admitted carrier, American Safety Casualty Insurance Company, its new excess and surplus lines company, its Bermuda rent-a-captive facilities and its non-subsidiary affiliate, American Safety Risk Retention Group, Inc.