Company: NODK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001174947-25-001356
Chunk: 12

Company: NI Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 Insurance. Primero is a property and casualty insurance company
that primarily provides non-standard auto coverage in the states of Arizona, North Dakota, South Dakota, and Nevada. The Company made
the strategic decision to stop writing non-standard auto business for Primero in Nevada during 2024 and in Arizona and South Dakota during
the third quarter of 2025, and existing policies will be non-renewed.

Battle Creek Insurance Company

Battle Creek is a property and casualty insurance company
writing private passenger auto, homeowners, and farm coverages solely in the state of Nebraska. Battle Creek became affiliated with Nodak
Insurance in 2011 and, prior to January 2, 2024, was controlled by Nodak Insurance via a surplus note. On January 2, 2024, Battle Creek
issued 300,000 shares of its common stock to Nodak Insurance at a $10.00 per share par value and became a wholly-owned subsidiary of Nodak
Insurance. Because we concluded that we controlled Battle Creek prior to January 2, 2024, we consolidated the financial statements of
Battle Creek, and Battle Creek’s policyholders’ interest in Battle Creek was reflected as a non-controlling interest in shareholders’
equity in our Consolidated Balance Sheets and its net income or loss was excluded from net income or loss attributed to NI Holdings in
our Consolidated Statements of Operations. Subsequent to January 2, 2024, Battle Creek is fully consolidated in our Consolidated Balance
Sheets and Consolidated Statements of Operations and, as such, no longer reflected as a non-controlling interest.

Direct Auto Insurance Company

Direct Auto is a property and casualty insurance company
that provides non-standard auto coverage in the state of Illinois. The Company made the strategic decision to stop writing non-standard
auto business for Direct Auto in Illinois during the third quarter of 2025, and existing policies will be non-renewed.

9 

Westminster American Insurance Company

Westminster was a property and casualty insurance company
underwriting commercial multi-peril insurance in 18 states and the District of Columbia. Westminster was sold to Scott Insurance Holdings
on June 30, 2024. Subsequent to the date of sale, Westminster is reflected as discontinued operations within our Consolidated Balance
Sheets and Consolidated Statements of Operations. For additional information see Part I, Item 1, Note 19 “Discontinued Operations”
of this Form 10-Q.

Organizational Structure and Credit