American Safety Insurance Inactive 10-K2008 FY Annual report

Filed: 16 Mar 09, 12:00am

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New words: anniversary, appointment, atop, attack, AU, ceased, cell, cleanup, dedicated, desirable, distinct, downturn, explanation, fell, Freddie, front, Ginnie, hazard, headcount, hierarchy, human, identical, LAE, living, Mac, medium, observable, orderly, overnight, page, phase, Proforma, prolonged, prorated, readily, recurring, sixty, stream, terrorist, unadjusted, unobservable, upheld, vi, VT, YesX

Removed: accurate, billing, closely, collecting, comfortable, conform, conservation, designated, division, ECSI, exclusively, expose, favor, finalized, greatly, grown, hedged, Hill, interim, likelihood, McGraw, netincome, put, reinstate, residual, triennial, version, wholesale

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Exhibit 21

AMERICAN SAFETY INSURANCE HOLDINGS, LTD.

SUBSIDIARIES OF THE COMPANY

American Safety Insurance Holdings, Ltd. - Bermuda

American Safety Assurance, Ltd. - Bermuda

American Safety Reinsurance Ltd. - Bermuda

Ordinance Holdings, Limited - Bermuda

American Safety Holdings Corp. - Georgia

American Safety Casualty Insurance Company - Oklahoma

American Safety Indemnity Company - Oklahoma

Ponce Lighthouse Properties Inc. - Florida

Rivermar Contracting Company - Florida

American Safety Insurance Services, Inc. - Georgia

American Safety Claims Services, Inc. - Georgia

American Safety Administrative Services, Inc. - Georgia

Sureco Bond Services, Inc - Georgia

American Safety Financial Corp. - Georgia

American Safety Purchasing Group, Inc. - Georgia

LTC Risk Management, LLC

LTC Insurance Services, LLC

American Safety Capital Trust - Georgia

American Safety Capital Trust II - Georgia

American Safety Capital Trust III - Georgia

American Safety Risk Retention Group, Inc. (non-subsidiary risk retention group affiliate) - Vermont

American Safety Assurance (VT), Inc. - Vermont

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