Exhibit 11
American Safety Insurance Holdings, Ltd. and subsidiaries
Computation of Earnings Per Share
Computation of Earnings Per Share
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2007 | 2006 | 2007 | 2006 | |||||||||||||
Basic: | ||||||||||||||||
Earnings available to common shareholders | $ | 7,046,141 | $ | 5,387,621 | $ | 21,410,017 | $ | 14,115,752 | ||||||||
Weighted average common shares outstanding | 10,709,996 | 10,438,692 | 10,624,416 | 8,116,056 | ||||||||||||
Basic earnings per common shares | $ | 0.66 | $ | 0.52 | $ | 2.02 | $ | 1.74 | ||||||||
Diluted: | ||||||||||||||||
Earnings available to common shareholders | $ | 7,046,141 | $ | 5,387,621 | $ | 21,410,017 | $ | 14,115,752 | ||||||||
Weighted average common shares outstanding | 10,709,996 | 10,438,692 | 10,624,416 | 8,116,056 | ||||||||||||
Weighted average common shares equivalents associated with options | 334,344 | 343,395 | 314,191 | 361,641 | ||||||||||||
Total weighted average common shares for diluted purposes | 11,044,340 | 10,782,087 | 10,938,607 | 8,477,697 | ||||||||||||
Diluted earnings per common shares | $ | 0.64 | $ | 0.50 | $ | 1.95 | $ | 1.67 | ||||||||
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