Company: NODK
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001174947-25-001142
Chunk: 75

Company: NI Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 75
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 ongoing basis based on historical developments, market conditions, industry trends,
and other information that we believe to be reasonable under the circumstances. There can be no assurance that actual results will conform
to these estimates and assumptions or that reported results of operations will not be materially and adversely affected by the need to
make accounting adjustments to reflect changes in these estimates and assumptions from time to time. Our critical accounting policies
are more fully described in Part II, Item 7, “Management's Discussion and Analysis of Financial Condition and Results of Operations”
presented in our 2024 Annual Report. There have been no changes in our critical accounting policies from December 31, 2024.

Liquidity and Capital Resources

We expect to generate sufficient funds from our operations and maintain
a high degree of liquidity in our investment portfolio to meet the demands of claim settlements and operating expenses for the foreseeable
future. Our primary sources of funds are premium collections, investment earnings, and fixed income maturities.

We also have a $3,000 line of credit with Wells Fargo Bank, N.A. The
terms of the line of credit include a floating interest rate of 2.50% above the daily simple secured overnight financing rate. There were
no outstanding amounts during the six months ended June 30, 2025, or the year ended December 31, 2024. This line of credit is scheduled
to expire on December 13, 2025.

The change in cash and cash equivalents for continuing and discontinued
operations for the six months ended June 30, 2025 and 2024, were as follows:

    Six Months Ended June 30, 

    2025  
    2024 
  
    Net cash flows from operating activities 
    $16,289  
    $34,760 
  
    Net cash flows from investing activities 
     (10,246) 
     (3,776)
  
    Net cash flows from financing activities 
     (189) 
     (202)
  
    Net change in cash and cash equivalents 
    $5,854  
    $30,782 

For the six months ended June 30, 2025, net cash provided by operating
activities totaled $16,289 compared to $34,760 a year ago. This change was primarily driven by lower levels of premium collections in
the current year, partially offset by lower levels of loss and loss adjustment payments in the current year.

For the six months