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EXHIBIT 12
AMERICAN SAFETY INSURANCE HOLDINGS, LTD.
RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
2009 | 2008 | 2007 | ||||||||||
Earnings | ||||||||||||
Pre-tax earnings | $ | 24,866 | $ | 341 | $ | 28,929 | ||||||
Plus: Interest expense recognized | 3,614 | 3,648 | 3,731 | |||||||||
Total earnings | $ | 28,480 | $ | 3,989 | $ | 32,660 | ||||||
Fixed charges | ||||||||||||
Interest expenses for the period | $ | 3,614 | $ | 3,648 | $ | 3,731 | ||||||
Total fixed charges | $ | 3,614 | $ | 3,648 | $ | 3,731 | ||||||
Coverage Ratio | 7.88 | 1.09 | 8.75 |