Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 981

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 2
Chunk 981
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 allowance account. We consider a number of factors when determining if an allowance for credit
losses is necessary, including payment and default history, credit spreads, credit ratings and rating actions, and probability of default.
We determine the credit loss component of fixed income investments by utilizing discounted cash flow modeling to determine the present
value of the security and comparing the present value with the amortized cost of the security. We did not recognize any credit losses
for fixed income securities at the time of adoption of the new credit loss accounting standard and have not recognized any credit losses
for fixed income securities since adoption of the credit loss standard. Therefore, there were no beginning or ending balances of credit
losses during the years ended December 31, 2024 or 2023. See Item II, Part 8, Note 3 “Summary of Significant Accounting Policies
and Basis of Presentation” section for additional information.

66 

Net investment income for continuing and discontinued operations
consisted of the following:

    Year Ended December 31, 

    2024  
    2023  
    2022 
  
    Continuing operations: 

    Fixed income securities 
    $11,401  
    $9,418  
    $8,216 
  
    Equity securities 
     904  
     874  
     1,260 
  
    Real estate 
     355  
     391  
     384 
  
    Cash and cash equivalents 
     1,699  
     456  
     23 
  
    Total gross investment income 
     14,359  
     11,139  
     9,883 
  
    Investment expenses 
     3,416  
     3,105  
     3,247 
  
    Net investment income – continuing operations 
     10,943  
     8,034  
     6,636 
  
    Net investment income – discontinued operations 
     1,419  
     2,422  
     1,184 
  
    Net investment income 
    $12,362  
    $10,456  
    $7,820 

Net investment gains (losses) for continuing and discontinued operations
consisted of the following:

    Year Ended December 31, 

    2024  
    2023  
    2022 
  
    Continuing Operations: