Company: NODK
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001174947-25-000721
Chunk: 99

Company: NI Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 99
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 securities: 

    U.S. Government and agencies 
    $12,274  
    $—  
    $12,274  
    $— 
  
    Obligations of states and political subdivisions 
     43,823  
     —  
     43,823  
     — 
  
    Corporate securities 
     116,274  
     —  
     116,274  
     — 
  
    Residential mortgage-backed securities 
     48,777  
     —  
     48,777  
     — 
  
    Commercial mortgage-backed securities 
     27,184  
     —  
     27,184  
     — 
  
    Asset-backed securities 
     56,131  
     —  
     56,131  
     — 
  
    Redeemable preferred stock 
     3,249  
     —  
     3,249  
     — 
  
    Total fixed income securities 
     307,712  
     —  
     307,712  
     — 

    Equity Securities - Common stock 
     24,640  
     24,640  
     —  
     — 

    Money market accounts and cash equivalents 
     10,950  
     10,950  
     —  
     — 
  
    Total assets at fair value 
    $343,302  
    $35,590  
    $307,712  
    $— 

There were no liabilities measured
at fair value on a recurring basis at March 31, 2025, or December 31, 2024.

15 

  5.
  Reinsurance

External Reinsurance

The Company’s consolidated financial statements reflect the effects
of assumed and ceded reinsurance transactions. Assumed reinsurance refers to the acceptance of certain insurance risks that other insurance
companies have underwritten. Ceded reinsurance involves transferring certain insurance risks (along with the related written and earned
premiums) the Company has underwritten to other insurance companies who agree to share these risks. The Company reinsures a portion of
the risks it underwrites, through these ceded reinsurance agreements, in order to control its exposure to losses. Our ceded reinsurance
is placed either on an automatic basis under