Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 1996

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 7
Chunk 1996
---
 is scheduled to expire
on December 13, 2025.

The changes in cash and cash equivalents for continuing
and discontinued operations for the years ended December 31, 2024, 2023, and 2022 were as follows:

    Year Ended December 31, 

    2024  
    2023  
    2022 
  
    Net cash flows from operating activities 
    $38,506  
    $51,028  
    $(15,294)
  
    Net cash flows from investing activities 
     (4,541) 
     (8,813) 
     25,048 
  
    Net cash flows from financing activities 
     (3,643) 
     (7,466) 
     (18,281)
  
    Net increase (decrease) in cash and cash equivalents 
    $30,322  
    $34,749  
    $(8,527)

For the year ended December 31, 2024, net cash provided by operating
activities totaled $38,506 compared to $51,028 net cash provided by operating activities a year ago. This change was primarily driven
by the severance payments to our former Chief Executive Officer and former Senior Vice President of Operations in the current year as
well as the receipt of a significant income tax refund during 2023.

For the year ended December 31, 2024, net cash used by investing
activities totaled $4,541 compared to $8,813 net cash used by investing activities a year ago. This change was primarily attributable
to the proceeds from the sale of Westminster as well as a decrease in the net cash outflows for fixed income securities in the current
year, partially offset by a decrease in the cash inflows from equity securities in the current year.

For the year ended December 31, 2024, net cash used by financing
activities totaled $3,643 compared to $7,466 a year ago. This decrease in cash used was attributable to a reduction in share repurchases
in the current year partially offset by the final pooling settlement between Nodak Insurance and Westminster.

For the year ended December 31, 2023, net cash provided by operating
activities totaled $51,028 compared to $15,294 net cash used by operating activities during 2022. This change was primarily driven by
lower claim payments and the receipt of a significant income tax refund during 202