Company: NODK
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001174947-25-001142
Chunk: 51

Company: NI Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 51
---
 well as a $1,772 post-closing
adjustment pursuant to the purchase agreement, for a net amount of $12,272. The sale closed on June 30, 2024, and we reported an after-tax
loss on the sale of discontinued operations of $11,148. For additional information see Part I, Item 1, Note 2 “Basis of Presentation
and Accounting Policies” of this Form 10-Q.

The Company’s Consolidated Statements of Cash
Flows presents operating, investing, and financing cash flows of the discontinued operations separately. Summary operating results of
discontinued operations were as follows for the periods indicated:

    Three Months Ended June 30,  
    Six Months Ended June 30, 

    2025  
    2024  
    2025  
    2024 
  
    Revenues: 

    Net premiums earned 
    $—  
    $15,383  
    $—  
    $31,056 
  
    Fee and other income 
     —  
     7  
     —  
     14 
  
    Net investment income 
     —  
     621  
     —  
     1,419 
  
    Net investment gains (losses) 
     —  
     (256) 
     —  
     116 
  
    Total revenues 
     —  
     15,755  
     —  
     32,605 

    Expenses: 

    Losses and loss adjustment expenses 
     —  
     11,441  
     —  
     23,506 
  
    Amortization of deferred policy acquisition costs 
     —  
     4,083  
     —  
     7,928 
  
    Other underwriting and general expenses 
     —  
     1,495  
     —  
     3,088 
  
    Total expenses 
     —  
     17,019  
     —  
     34,522 

    Loss before income taxes 
     —  
     (1,264) 
     —  
     (1,917)
  
    Income tax benefit 
     —  
     (268) 
     —  
     (405