acquisition of an insurance agency and a related group of insurance companies.

American Safety Holdings Corp (US) bought out Illinois licensed insurance carrier, L&W Holdings Ltd and Principal Management Inc of Michigan.

In a related transaction American Safety have also acquired the stock of Pegasus Insurance registered in the Cayman Islands.

American safety Insurance group Ltd. is a speciality insurance and financial services company which, through its subsidiaries, develops, underwrites, manages and markets primary casualty insurance and reinsurance programmes in the alternative insurance market for environmental risks.

It also provides a broad range of financial services and products to middle market businesses.