Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 6

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1
Chunk 6
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    South Dakota 
     32,421  
     29,660  
     3,970,000  
     30th
  
    Arizona 
     5,180  
     4,077  
     17,959,000  
     163rd
  
    Minnesota 
     3,786  
     4,008  
     17,081,000  
     140th
  
    Nevada 
     1,434  
     2,938  
     8,562,000  
     139th
  
    Total direct premiums written 
    $342,301  
    $341,234  

    Market size information is not yet available for the year ended December 31, 2024.

Growth Strategy

We believe we have many opportunities to grow
our business. Strategies we employ to achieve this growth include:

●continued emphasis on our relationship with the NDFB, a key advocacy group for agricultural and rural interests which enjoys a high
profile and favorable reputation throughout North Dakota;

●expansion and enhancement of independent agency relationships, including the use of technology such as mobile apps, online quoting,
and policy issuance initiatives to make it easy for agents and insureds to do business with us;

●capitalizing on our excellent claims service for all insureds;

●selective expansion of our insurance products in states where we currently operate, as well as those states where we hold insurance
licenses; and

●consideration of strategic acquisitions and investment opportunities in businesses that align with our growth objectives.

Corporate Capital Strategy

Our philosophy is to deploy capital in a manner
that provides long-term protection for our policyholders and creates long-term value for our shareholders. This philosophy is supported
by a number of underlying strategies implemented across the organization that are focused on preservation of capital, including:

●prioritizing the use of data and modeling tools to help estimate the frequency and severity of risks within our insurance portfolio;

●maintaining a conservatively managed investment portfolio that supports our insurance operations under a wide range of operating and
market conditions;

●ensuring our reinsurance program is designed to provide sufficient protection against material insurance exposures including, but
not limited to, catastrophes caused by weather-related events; and

●relying upon our Enterprise Risk Management framework to identify, quantify, and manage a broad range of risks across the organization.

We view our capital position to consist of three
layers, each of which has a specific