EXHIBIT 11
AMERICAN SAFETY INSURANCE HOLDINGS, LTD.
COMPUTATION OF EARNINGS PER SHARE
(dollars in thousands except per share data)
| September 30, | September 30, | September 30, | ||||||||||
| For the Years Ended December 31, | ||||||||||||
| 2011 | 2010 | 2009 | ||||||||||
Basic: | ||||||||||||
Earnings available to common Shareholders | $ | 10,842 | $ | 30,508 | $ | 24,325 | ||||||
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Weighted average common shares outstanding | 10,393,766 | 10,302,525 | 10,307,592 | |||||||||
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Basic earnings per common share | $ | 1.04 | $ | 2.96 | $ | 2.36 | ||||||
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Diluted: | ||||||||||||
Earnings available to common Shareholders | $ | 10,842 | $ | 30,508 | $ | 24,325 | ||||||
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Weighted average common shares outstanding | 10,393,766 | 10,302,525 | 10,307,592 | |||||||||
Weighted average common shares attributable to stock options and restricted stock | 345,408 | 343,579 | 250,159 | |||||||||
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Total weighted average common shares | 10,739,174 | 10,646,104 | 10,557,751 | |||||||||
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Diluted earnings per common share | $ | 1.01 | $ | 2.87 | $ | 2.30 | ||||||
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