Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 985

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 2
Chunk 985
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, 2024, 2023, or 2022. The classification within the fair value hierarchy is then confirmed based on the final conclusions from the
pricing review.

The valuation of money market accounts and equity securities
are generally based on Level 1 inputs, which use the market-approach valuation technique. The valuation of certain cash equivalents and
our fixed income securities generally incorporates significant Level 2 inputs using the market and income approach techniques. We may
assign a lower level to inputs typically considered to be Level 2 based on our assessment of liquidity and relative level of uncertainty
surrounding inputs. There were no assets or liabilities classified at Level 3 at December 31, 2024, or 2023.

68 

The following tables set forth our assets which
are measured on a recurring basis by the level within the fair value hierarchy in which fair value measurements fall:

    December 31, 2024 

    Total  
    Level 1  
    Level 2  
    Level 3 
  
    Fixed income securities: 

    U.S. Government and agencies 
    $12,274  
    $—  
    $12,274  
    $— 
  
    Obligations of states and political subdivisions 
     43,823  
     —  
     43,823  
     — 
  
    Corporate securities 
     116,274  
     —  
     116,274  
     — 
  
    Residential mortgage-backed securities 
     48,777  
     —  
     48,777  
     — 
  
    Commercial mortgage-backed securities 
     27,184  
     —  
     27,184  
     — 
  
    Asset-backed securities 
     56,131  
     —  
     56,131  
     — 
  
    Redeemable preferred stock 
     3,249  
     —  
     3,249  
     — 
  
    Total fixed income securities 
     307,712  
     —  
     307,712  
     — 

    Equity securities: 

    Common stock 
     24,640  
     24,640  
     —  
     — 
  
    Non-redeemable preferred stock 
     —