Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 1030

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 2
Chunk 1030
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(loss). The CEO uses segment underwriting gain (loss) to allocate resources (including employees, financial and capital resources) for
each segment predominantly in the annual planning process. Segment underwriting gain (loss) is used to monitor segment results compared
to prior period, forecasted results, and the annual plan. For purposes of evaluating profitability of the Non-Standard Auto segment, we
combine the policy fees paid by the insured with the underwriting gain or loss as its primary profitability measure. As a result, these
fees are allocated to the Non-Standard Auto segment (included in fee and other income) in the tables below. The remaining fee and other
income amounts are not allocated to any segment.

We do not assign or allocate all line items in
our Consolidated Statement of Operations or Consolidated Balance Sheets to our operating segments. Those line items include net investment
income, net investment gains (losses), fee and other income excluding Non-Standard Auto, and income tax expense (benefit) within the Unaudited
Consolidated Statement of Operations. For the Consolidated Balance Sheets, those items include cash and investments, property and equipment,
other assets, accrued expenses and other liabilities, income taxes recoverable or payable, and shareholders’ equity.

97 

    Year Ended December 31, 2024 

    Private 
Passenger Auto  
    Non-Standard
 Auto  
    Home and
 Farm  
    Crop  
    All Other  
    Total 
  
    Direct premiums earned 
    $94,865  
    $95,502  
    $102,073  
    $36,421  
    $13,024  
    $341,885 
  
    Assumed premiums earned 
     —  
     —  
     —  
     2,147  
     837  
     2,984 
  
    Ceded premiums earned 
     (4,551) 
     (277) 
     (11,312) 
     (17,426) 
     (1,193) 
     (34,759)
  
    Net premiums earned 
     90,314  
     95,225  
     90,761  
     21,142  
     12,668  
     310,110 

    Direct losses and loss adjustment expenses 
     54,340  
     76