Company: NODK
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001174947-25-001142
Chunk: 157

Company: NI Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 157
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675  
     3,844  
     45,551 

    Amortization of deferred policy acquisition costs 
     8,605  
     16,533  
     8,730  
     1,116  
     1,123  
     36,107 
  
    Other underwriting and general expenses (1) 
     5,252  
     4,032  
     5,213  
     595  
     1,842  
     16,934 
  
    Underwriting and general expenses 
     13,857  
     20,565  
     13,943  
     1,711  
     2,965  
     53,041 
  
    Underwriting gain (loss) 
     (506) 
     (5,016) 
     (4,811) 
     1,964  
     879  
     (7,490)

    Fee and other income 

     1,099 
  
    Net investment income 

     5,278 
  
    Net investment gains 

     876 
  
    Loss before income taxes 

     (237)
  
    Income tax expense (benefit) 

     306 
  
    Net loss 

    $(543)

    Operating Ratios: 

    Loss and loss adjustment expense ratio 
     70.0%  
     69.9%  
     78.9%  
     61.0%  
     35.7%  
     70.6% 
  
    Expense ratio 
     31.1%  
     39.8%  
     32.2%  
     18.1%  
     49.6%  
     34.2% 
  
    Combined ratio 
     101.1%  
     109.7%  
     111.1%  
     79.1%  
     85.3%  
     104.8% 

(1) Other underwriting and general expenses for each segment include
expenses related to compensation, vendor services, and other administrative items.

36 

Item 2. - Management’s Discussion and
Analysis of Financial Condition and Results of Operations

The following discussion