Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 776

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1C
Chunk 776
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    December 31, 2023 

    Total  
    Level 1  
    Level 2  
    Level 3 
  
    Fixed income securities: 

    Continuing operations 
    $289,399  
    $—  
    $289,399  
    $— 
  
    Discontinued operations 
     58,332  
     —  
     58,332  
     — 
  
    Total fixed income securities 
     347,731  
     —  
     347,731  
     — 

    Equity securities: 

    Continuing operations 
     21,983  
     21,983  
     —  
     — 
  
    Discontinued operations 
     5,784  
     5,784  
     —  
     — 
  
    Total equity securities 
     27,767  
     27,767  
     —  
     — 

    Money market accounts and cash equivalents 

    Continuing operations 
     16,239  
     16,239  
     —  
     — 
  
    Discontinued operations 
     9,357  
     3,173  
     6,184  
     — 
  
    Total money market accounts and cash equivalents 
     25,596  
     19,412  
     6,184  
     — 
  
    Total assets at fair value 
    $401,094  
    $47,179  
    $353,915  
    $— 

There were no liabilities measured
at fair value on a recurring basis at December 31, 2024 or 2023.

6.       Reinsurance

External Reinsurance 

The Company’s consolidated financial statements reflect
the effects of assumed and ceded reinsurance transactions. Assumed reinsurance refers to the acceptance of certain insurance risks that
other insurance companies have underwritten. Ceded reinsurance involves transferring certain insurance risks (along with the related written
and earned premiums) the Company has underwritten to other insurance companies who agree to share these risks. The Company reinsures a
portion of the risks it underwrites, through these ceded reinsurance agreements, in order to control its exposure to losses. Our ceded
reinsurance is placed either on an