Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 2056

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 7
Chunk 2056
---

  
    Discontinued operations: 

    Balance, beginning of year: 

    Liability for unpaid losses and loss adjustment expenses 
    $97,934  
    $76,163  
    $31,662 
  
    Reinsurance recoverables on losses 
     42,509  
     28,989  
     8,722 
  
    Net balance, beginning of year 
     55,425  
     47,174  
     22,940 

    Incurred related to: 

    Current year 
     24,115  
     39,750  
     45,648 
  
    Prior years 
     (609) 
     18,146  
     7,034 
  
    Total incurred 
     23,506  
     57,896  
     52,682 

    Paid related to: 

    Current year 
     5,564  
     17,132  
     15,816 
  
    Prior years 
     11,179  
     32,512  
     12,632 
  
    Total paid 
     16,743  
     49,644  
     28,448 

    Westminster balances disposed in sale: 

    Liability for unpaid losses and loss adjustment expenses 
     107,508  
     —  
     — 
  
    Reinsurance recoverables on losses 
     45,320  
     —  
     — 
  
    Net balance, date of sale 
     62,188  
     —  
     — 

    Balance, end of year: 

    Liability for unpaid losses and loss adjustment expenses 
     —  
     97,934  
     76,163 
  
    Reinsurance recoverables on losses 
     —  
     42,509  
     28,989 
  
    Net balance, end of year 
    $—  
    $55,425  
    $47,174 

75 

The tables on the following pages present information,
organized by our primary operating segments, about incurred and paid claims development as of December 31, 2024, net of reinsurance, as
well as cumulative claim frequency and the total of IBNR reserves plus expected development on reported claims. The cumulative number