Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 53

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1
Chunk 53
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 Ratio sections above.

Fee and Other Income

We had fee and other income of $1,938 for the year ended December
31, 2024, compared to $1,940 for the year ended December 31, 2023, and $1,381 for the year ended December 31, 2022. Fee income is largely
attributable to the Non-Standard Auto segment and is a key component in measuring its profitability. Fee and other income on this business
decreased to $1,219 for the year ended December 31, 2024, from $1,293 for the year ended December 31, 2023, due to elevated other income
in the prior year. Fee and other income for non-standard auto increased to $1,293 for the year ended December 31, 2023, from $831 for
the year ended December 31, 2022, due to an increase in policies that generate fee income.

Goodwill Impairment Charge

We had a goodwill impairment charge of $2,628 for the year ended
December 31, 2024, compared to $6,756 for the years ended December 31, 2023, and $0 for the year ended December 31, 2022. See Part II,
Item 8, Note 10 “Goodwill and Other Intangibles” for additional information.

34 

Net Investment Income

The following table shows our average cash and invested assets,
net investment income, and return on average cash and invested assets for the reported periods for continuing operations:

    Year Ended December 31, 

    2024  
    2023  
    2022 
  
    Average cash and invested assets 
    $371,110  
    $335,821  
    $391,584 
  
    Net investment income 
    $10,943  
    $8,034  
    $6,636 

    Gross return on average cash and invested assets 
     3.9%  
     3.5%  
     2.5% 
  
    Net return on average cash and invested assets 
     3.0%  
     2.6%  
     1.7% 

Net investment income increased $2,909 for the year ended December
31, 2024, compared to the year ended December 31, 2023. This increase was primarily