November, 2006
3rd Quarter 2006 Financial Results

Lawrenceville, NJ November 2006 - The Company marked its 13th consecutive quarter with a combined ratio below 100%. Net income was $1,899,000 for the quarter compared to $714,000 for the third quarter ending September 30, 2005. The quarter was positively impacted by the reduction in the reliance on reinsurance and improvements in the investment income over the prior periods.

If you have any questions please do not hesitate to contact us. Thank you for your contribution to these outstanding results.

ARI Insurance Companies Periods Ended September 30 (Amounts in thousands)
	Three Months Ended		Nine Months Ended
	September 30 2006	September 30 2005	September 30 2006	September 30 2005
Direct Written Premiums	$8,946	$7,967	$29,472	$27,117
Net Written Premiums	8,201	9,679	26,413	23,384
Premiums earned	8,632	7,328	25,290	19,919
Underwriting Gain (Loss)	1,293	294	2,099	687
Investment Income	684	403	1,891	1,127
Net Income	$ 1,899	$ 714	$ 3,778	$ 1,861
Loss and Loss Expense Ratio	53.3%	62.9%	57.8%	62.3%
Underwriting Ratio	33.4%	25.1%	32.4%	29.2%
Combined Ratio	86.7%	87.9%	90.3%	91.5%

Contact at 609-882-7500

Karen S. Fulton President and CEO

David A. Gerth Sr. Vice President & CFO

J. Tucker Ericson Sr. Vice President