Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 126

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1
Chunk 126
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150  
     152,884  
     118,462 

    Incurred related to: 

    Current year 
     218,063  
     223,960  
     293,283 
  
    Prior years 
     12,908  
     20,452  
     1,149 
  
    Total incurred 
     230,971  
     244,412  
     294,432 

    Paid related to: 

    Current year 
     131,570  
     138,600  
     197,250 
  
    Prior years 
     80,636  
     90,548  
     62,760 
  
    Total paid 
     212,206  
     229,148  
     260,010 

    Westminster balances disposed in sale: 

    Liability for unpaid losses and loss adjustment expenses 
     107,508  
     —  
     — 
  
    Reinsurance recoverables on losses 
     45,320  
     —  
     — 
  
    Net balance, date of sale 
     62,188  
     —  
     — 

    Balance, end of year: 

    Liability for unpaid losses and loss adjustment expenses 
     137,288  
     217,119  
     190,459 
  
    Reinsurance recoverables on losses 
     12,561  
     48,969  
     37,575 
  
    Net balance, end of year 
    $124,727  
    $168,150  
    $152,884 

During the year ended December 31, 2024, the Company’s
incurred reported losses and loss adjustment expense included $12,908 of net unfavorable development on prior accident years. This was
primarily attributable to unfavorable development for the Direct Auto non-standard auto business, partially offset by favorable development
in Battle Creek, American West, Primero, and Nodak Insurance. During the year ended December 31, 2023, the Company’s incurred reported
losses and loss adjustment expenses included $20,452 of net unfavorable development on prior accident years, primarily attributable to
unfavorable development for the Westminster commercial and Direct Auto non-standard auto businesses partially offset by favorable development
for Battle Creek, American