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UNITED STATES SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549


Form 10-K/A


AMENDMENT NO. 1


|   |  |                                                                                             
|-- |  | --------------------------------------------------------------------------------------------
|þ  |  | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934    
|  
|   |  | For the fiscal year ended December 31, 2005                                                 
|  
|OR
|  
|o  |  | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934
|  
|   |  | For the transition period
    from           to                                             

Commission file number: 000-51127


NATIONAL ATLANTIC HOLDINGS CORPORATION


(Exact name of Registrant as specified in its charter)


|                                                                   |  |                                         
|------------------------------------------------------------------ |  | ----------------------------------------
|New Jersey                                                         |  | 22-3316586                              
|(State or other jurisdiction of
    incorporation or organization) |  | (I.R.S. Employer
    Identification No.)

4 Paragon Way


Freehold, NJ 07728


(732) 665-1100


(Address, including zip code, of


Registrants principal executive offices)


Registrants telephone number, including area code:


(732) 665-1100


Securities registered pursuant to Section 12(b) of the
Act:


|                                     |  |                                          
|------------------------------------ |  | -----------------------------------------
|Title of Class                       |  | Name of Each Exchange on Which Registered
|                                     |  |                                          
|Common Stock, no par value per share |  | Nasdaq National Market                   

Securities Registered pursuant to Section 12(g) of the
Act:


None


o þ


o þ


þ o


S-K 10-K 10-K. o




o o þ


12b-2). o þ






DOCUMENTS INCORPORATED BY REFERENCE












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EXPLANATORY NOTE






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Part IV


Item 15  Exhibit and Financial Statement
Schedules


(a)(3) Exhibits


10-K/A:


|     |  |                                                                                                                       
|---- |  | ----------------------------------------------------------------------------------------------------------------------
|No.  |  | Exhibit                                                                                                               
|     |  |                                                                                                                       
|31.1 |  | Certification pursuant to Rule 13a-14(a) and
    Rule 15d-14(a) of the Securities Exchange Act of 1934, as
    amended
|    
|31.2 |  | Certification pursuant to Rule 13a-14(a) and
    Rule 15d-14(a) of the Securities Exchange Act of 1934, as
    amended



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SIGNATURES


10-K/A




| |                           
| | --------------------------
| | NATIONAL ATLANTIC HOLDINGS
| | CORPORATION               



| |     |                    
| | --- | -------------------
| | By: | /s/ James V. Gorman

| |                                                                            
| | ---------------------------------------------------------------------------
| |                                                                            
| | Name: James V. Gorman                                                      
| | Title:   Chairman of the Board of Directors and
    Chief Executive Officer



| |     |                      
| | --- | ---------------------
| | By: | /s/ Frank J. Prudente

| |                                                                              
| | -----------------------------------------------------------------------------
| |                                                                              
| | Name: Frank J. Prudente                                                      
| | Title:   Executive Vice President, Treasurer and
    Chief Accounting Officer