Company: NODK
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001174947-25-001142
Chunk: 11

Company: NI Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 became a wholly-owned stock subsidiary of NI Holdings. Prior to completion of the Nodak conversion,
NI Holdings conducted no business and had no assets or liabilities. As a result of the Nodak conversion, NI Holdings became the holding
company for Nodak Insurance and its existing subsidiaries.

These unaudited consolidated financial statements
include the financial position and results of operations of NI Holdings and the following other entities:

Nodak Insurance Company

Nodak Insurance is the largest domestic property
and casualty insurance company in North Dakota, offering private passenger auto, homeowners, farmowners, commercial multi-peril, crop
hail, and Federal multi-peril crop insurance coverages through its captive agents in the state.

Nodak Agency, Inc.

Nodak Agency is an inactive shell corporation.

American West Insurance Company

American West is a property and casualty insurance
company licensed in eight states in the Midwest and Western regions of the United States (“U.S.”). American West began writing
policies in 2002 and primarily writes private passenger auto, homeowners, and farm coverages in South Dakota. American West also writes
private passenger auto coverage in North Dakota, as well as crop hail and Federal multi-peril crop insurance coverages in Minnesota and
South Dakota.

Primero Insurance Company

Primero is a wholly-owned subsidiary of Tri-State,
Ltd. Tri-State, Ltd. is an inactive shell corporation 100% owned by Nodak Insurance. Primero is a property and casualty insurance company
writing non-standard auto coverage in the states of Arizona, North Dakota, and South Dakota. Prior to December 31, 2024, Primero also
wrote non-standard auto coverage in the state of Nevada. Primero was acquired by Nodak Insurance in 2014.

Battle Creek Insurance Company

Battle Creek is a property and casualty insurance
company writing private passenger auto, homeowners, and farm coverages solely in the state of Nebraska. Battle Creek became affiliated
with Nodak Insurance in 2011 and, prior to January 2, 2024, was controlled by Nodak Insurance via a surplus note. On January 2, 2024,
Battle Creek issued 300,000 shares of its common stock to Nodak Insurance at a $10.00 per share par value and became a wholly-owned subsidiary
of Nodak Insurance. Because we concluded that we controlled Battle Creek prior to January 2, 2024, we consolidated the financial statements
of Battle Creek,