A dramatic jump in net investment income propelled American Safety Insurance Holdings, Ltd.'s second-quarter bottom line to a 57 percent increase, but the soft market prompted deep cuts in the top line, executives said.

The Bermuda-based holding company for specialty insurance operations reported second-quarter net income of $7.3 million, or 66 cents per share, compared with $4.6 million, or 62 cents per share, for the same period last year.

Net investment income rose 58 percent to $7.5 million, up from $4.7 million for the same period last year.

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