Company: NODK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001174947-25-001356
Chunk: 1

Company: NI Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 $157,383  
    $137,288 
  
    Unearned premiums 
     122,460  
     126,498 
  
    Reinsurance premiums payable 
     1,497  
     — 
  
    Accrued expenses and other liabilities 
     18,675  
     18,128 
  
    Total liabilities 
     300,015  
     281,914 

    Shareholders’ equity: 

    Common stock, $0.01 par value, authorized: 25,000,000 shares; issued: 23,000,000 shares; and outstanding: 2025 – 20,629,737 shares, 2024 – 20,673,268 shares 
     230  
     230 
  
    Additional paid-in capital 
     96,067  
     95,796 
  
    Unearned employee stock ownership plan shares 
     (455) 
     (455)
  
    Retained earnings 
     194,233  
     201,584 
  
    Accumulated other comprehensive loss, net of income taxes 
     (11,526) 
     (18,231)
  
    Treasury stock, at cost, 2025 – 2,324,783 shares, 2024 – 2,281,252 shares 
     (34,749) 
     (34,293)
  
    Total shareholders’ equity 
     243,800  
     244,631 

    Total liabilities and shareholders’ equity 
    $543,815  
    $526,545 

The accompanying notes are an integral part of these consolidated financial
statements. 

3 

NI Holdings, Inc.

Consolidated Statements of Operations (Unaudited)

(dollar amounts in thousands, except per share data) 

    Three Months Ended September 30,  
    Nine Months Ended September 30, 

    2025  
    2024  
    2025  
    2024 
  
    Revenues: 

    Net premiums earned 
    $71,905  
    $83,270  
    $212,407  
    $238,323 
  
    Fee and other income 
     261  
     491  
     807  
     1,590 
  
    Net investment income 
     3,