HCC Insurance Holdings, Inc.
 

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
American Safety Insurance Holdings Ltd.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
G02995101
(CUSIP Number)
July 13, 2006
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
               o  Rule 13d-1(b)
               x Rule 13d-1(c)
               o  Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 
 

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CUSIP No. G02995101
  1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
 
HCC Insurance Holdings, Inc.
  2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
     (a)   o
     (b)   þ

  3. SEC USE ONLY
 
 
  4. CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
 
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH
  5.   SOLE VOTING POWER
 
0
 
 
 
  6.   SHARED VOTING POWER
 
1,323,750
 
 
 
  7.   SOLE DISPOSITIVE POWER
 
0
 
 
 
  8.   SHARED DISPOSITIVE POWER
 
1,323,750
 
  9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,323,750
  10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
 
o
  11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
12.59%
  12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
HC

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Item 1.        
 
                   
    (a)   Name of Issuer
 
                   
        American Safety Insurance Holdings Ltd.
 
                   
    (b)   Address of Issuer’s Principal Executive Offices
 
                   
        44 Church Street
PO Box HM 2064
Hamilton, HM HX
Bermuda
 
                   
Item 2.        
 
                   
    (a)   Name of Person Filing
 
                   
        HCC Insurance Holdings, Inc.
 
                   
    (b)   Address of Principal Business Office
 
                   
        13403 Northwest Freeway
Houston, Texas 77040-6094
 
                   
    (c)   Citizenship
 
                   
        Delaware
 
                   
    (d)   Title of Class of Securities
 
                   
        Common Stock
 
                   
    (e)   CUSIP Number
 
                   
        404132102
 
                   
Item 3.   If this statement is filed pursuant §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:    
 
                   
 
  (a)   o   Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).        
 
                   
 
  (b)   o   Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).        
 
                   
 
  (c)   o   Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).        
 
                   
 
  (d)   o   Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).        
 
                   
 
  (e)   o   An investment advisor in accordance with §240.13d-1(b)(1)(ii)(E);        
 
                   
 
  (f)   o   An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);        
 
                   
 
  (g)   o   A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);        
 
                   
 
  (h)   o   A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);        
 
                   
 
  (i)   o   A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);        
 
                   
 
  (j)   o   Group, in accordance with §240.13d-1(b)(1)(ii)(J).        

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Item 4.   Ownership.    
 
                   
    (a)   Amount beneficially owned:
 
                   
        1,323,750
 
                   
    (b)   Percent of class:
 
                   
        12.59%
 
                   
    (c)   Number of shares as to which the person has:
 
                   
 
      (i)   Sole power to vote or to direct the vote: 0        
 
                   
 
      (ii)   Shared power to vote or to direct the vote: 1,323,750        
 
                   
 
      (iii)   Sole power to dispose or to direct the disposition of: 0        
 
                   
 
      (iv)   Shared power to dispose or to direct the disposition of: 1,323,750        
 
                   
Item 5.   Ownership of Five Percent or Less of a Class.    
 
                   
    If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5% of the class of securities, check the following: o    
 
                   
Item 6.   Ownership of More Than Five Percent on Behalf of Another Person.    
 
                   
    Not Applicable.    
 
                   
Item 7.   Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.    
 
                   
    See Exhibit A for the identity of the subsidiaries which directly beneficially own the securities reported herein.    
 
                   
Item 8.   Identification and Classification of Members of the Group.    
 
                   
    Not applicable.    
 
                   
Item 9.   Notice of Dissolution of Group.    
 
                   
    Not applicable.    
 
                   
Item 10.   Certifications    
 
                   
    By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.    

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SIGNATURE
     After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: July 13, 2006
         
     
  By:   /s/ Christopher L. Martin    
    Christopher L. Martin,
 
 
    Executive Vice President   
 

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EXHIBIT INDEX
     
Exhibit A
  Information Required by Item 7
 
   
Exhibit B
  Joint Filing Agreement between HCC Insurance Holdings, Inc and Houston Casualty Company