Exhibit 99.1
National Atlantic Issues Corrected Business Segment Data
FREEHOLD, N.J.--(BUSINESS WIRE)--March 1, 2007--National Atlantic
Holdings Corporation (Nasdaq: NAHC) today issued a correction to its
fourth quarter and year-end 2006 press release dated February 28, 2007
regarding the Company's 2005 premiums by line of business.
Line of Business Data
The table below shows our revenues in each of our lines of
business for the periods indicated and the year-over-year percentage
changes.
Direct Written Premiums by Line of Business,
(in thousands)
For the year ended December 31,
--------------------------------------
Increase/ Change
Direct Written Premiums 2006 2005 (Decrease) %
- ------------------------------- --------- --------- ------------------
($ in thousands)
Private Passenger Automobile $111,379 $152,482 (41,103) (27.0%)
Homeowners 29,273 20,926 8,347 39.9%
Commercial Lines 30,417 24,641 5,776 23.5%
--------- --------- ------------------
$171,069 $198,049 $(26,980) (13.6%)
========= ========= ==================
- -- No adjustment has been made for comparison purposes for the effect
of policy annualization which occurred in auto in 2005
Net Earned Premiums by Line of Business
(in thousands)
For the year ended December 31,
--------------------------------------
Increase/ Change
Net Earned Premiums 2006 2005 (Decrease) %
- ------------------------------- --------- --------- ------------------
($ in thousands)
Private Passenger Automobile $109,855 $135,940 $(26,085) (19.2%)
Homeowners 21,264 16,066 5,198 32.4%
Commercial Lines 26,235 20,776 5,459 26.3%
--------- --------- ------------------
$157,354 $172,782 $(15,428) (8.9%)
========= ========= ==================
- -- No adjustment has been made for comparison purposes for the effect
of policy annualization which occurred in auto in 2005
Direct Written Premiums by Line of Business,
(in thousands)
For the three months ended December 31,
---------------------------------------
Increase/ Change
Direct Written Premiums 2006 2005 (Decrease) %
- ------------------------------ ------------ -------- -----------------
($ in thousands)
Private Passenger Automobile $20,980 $21,948 (968) (4.5%)
Homeowners 7,714 5,067 2,647 52.3%
Commercial Lines 6,892 6,073 819 13.5%
------------ -------- -----------------
$35,586 $33,088 $2,498 7.6%
============ ======== =================
- -- No adjustment has been made for comparison purposes for the effect
of policy annualization which occurred in auto in 2005
Net Earned Premiums by Line of Business
(in thousands)
For the three months ended December 31,
---------------------------------------
Increase/ Change
Net Earned Premiums 2006 2005 (Decrease) %
- ------------------------------ ----------- -------- ------------------
($ in thousands)
Private Passenger Automobile $26,879 $30,737 $(3,858) (12.6%)
Homeowners 6,553 4,339 2,214 51.0%
Commercial Lines 6,930 5,330 1,600 30.1%
----------- -------- ------------------
$40,362 $40,406 $ (44) (0.1%)
=========== ======== ==================
- -- No adjustment has been made for comparison purposes for the effect
of policy annualization which occurred in auto in 2005
About NAHC:
National Atlantic Holdings Corporation (NAHC) and its subsidiaries
provide property and casualty insurance and insurance-related services
to individuals, families and businesses in the State of New Jersey.
The Company's flagship insurance product to personal insurance
customers is its "High Proformance Policy." This product is designed
to attract a broad spectrum of New Jersey residents for their private
passenger automobile, homeowners, and personal excess ("umbrella") and
specialty property liability coverage.
For businesses, the Company offers a range of commercial insurance
products, including commercial property, commercial general liability,
and business auto, as well as claims administrative services to
self-insured corporations.
National Atlantic distributes its products exclusively through
independent insurance agents, known as "Partner Agents," who are
required to become shareholders in National Atlantic in order to
represent the Company as an agent. The Company offers insurance
products through its subsidiaries, Proformance Insurance Company and
Mayfair Reinsurance Company, and insurance-related services through
Riverview Professional Services and the National Atlantic Insurance
Agency.
CONTACT: National Atlantic Holdings Corporation
Frank J. Prudente, 732-665-1145
Executive Vice President - Corporate Finance