Company: NODK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001174947-25-001356
Chunk: 429

Company: NI Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 429
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 Bank, N.A.
The terms of the line of credit include a floating interest rate of 2.50% above the daily simple secured overnight financing rate. There
were no outstanding amounts during the nine months ended September 30, 2025, or the year ended December 31, 2024. This line of credit
is scheduled to expire on December 13, 2025.

The change in cash and cash equivalents for continuing and discontinued
operations for the nine months ended September 30, 2025 and 2024, were as follows:

    Nine Months Ended September 30, 

    2025  
    2024 
  
    Net cash flows from operating activities 
    $(28,511) 
    $16,780 
  
    Net cash flows from investing activities 
     3,621  
     5,327 
  
    Net cash flows from financing activities 
     (1,387) 
     (3,613)
  
    Net change in cash and cash equivalents 
    $(26,277) 
    $18,494 

For the nine months ended September 30, 2025, net cash used by operating
activities totaled $28,511 compared to net cash provided of $16,780 a year ago. This change was primarily driven by lower levels of premium
collections in the current year, partially offset by lower levels of loss and loss adjustment payments in the current year.

For the nine months ended September 30, 2025, net cash provided
by investing activities totaled $3,621 compared to $5,327 a year ago. The net cash provided in the current year was driven by cash inflows
from net sales of equity and fixed income securities. The net cash provided in the prior year was attributable to the proceeds from the
sale of Westminster and Westminster’s net cash provided by investing activities, partially offset by cash outflows for net purchases
of fixed income securities.

For the nine months ended September 30, 2025, net cash used by financing
activities totaled $1,387 compared to $3,613 a year ago. The net cash used in the current year was driven by cash outflows for share repurchases.
The net cash used in the prior year was attributable to pooling payments, partially offset by Westminster’s net cash provided by
financing activities.

As a holding company, a principal source of long-term liquidity
will be dividend payments from our directly-owned subsidiaries.

Nodak