Company: NODK
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001174947-25-000721
Chunk: 50

Company: NI Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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,901

●Total assets of $525,364

●Unpaid losses and loss adjustment expenses of $135,886

●Total liabilities of $271,364

●Shareholders’
equity of $254,000

33 

Results of Continuing Operations

Our consolidated net income from continuing operations was $6,460 and
$6,935 for the three months ended March 31, 2025 and 2024, respectively.

The major components of our revenues and net income for the two periods
are shown below:

    Three Months Ended March 31, 

    2025  
    2024 
  
    Revenues: 

    Net premiums earned 
    $67,497  
    $69,884 
  
    Fee and other income 
     230  
     404 
  
    Net investment income 
     2,838  
     2,755 
  
    Net investment gains 
     869  
     1,456 
  
    Total revenues 
    $71,434  
    $74,499 

    Components of net income: 

    Net premiums earned 
    $67,497  
    $69,884 
  
    Losses and loss adjustment expenses 
     38,525  
     40,144 
  
    Amortization of deferred policy acquisition costs and other underwriting and general expenses 
     25,160  
     25,522 
  
    Underwriting gain 
     3,812  
     4,218 

    Fee and other income 
     230  
     404 
  
    Net investment income 
     2,838  
     2,755 
  
    Net investment gains 
     869  
     1,456 
  
    Income from continuing operations before income taxes 
     7,749  
     8,833 
  
    Income tax expense 
     1,289  
     1,898 
  
    Net income from continuing operations 
    $6,460  
    $6,935 

Net Premiums Earned

    Three Months Ended March 31, 

    2025  
    2024 
  
    Net premiums earned: 

    Direct premium 
    $72,161  
    $75,398 
  
    Assumed premium 
     39  
     151 
  
    C