Company: NODK
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001174947-25-000721
Chunk: 53

Company: NI Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 53
---
.1% 
  
    Non-Standard Auto 
     79.6%  
     67.5% 
  
    Home and Farm 
     41.3%  
     56.9% 
  
    Crop 
     132.7%  
     100.5% 
  
    All Other 
     37.1%  
     46.4% 
  
    Total loss and loss adjustment expense ratio 
     57.1%  
     57.4% 

Below are comments regarding significant changes in the net losses
and loss adjustment expenses, and the net loss and loss adjustment expense ratios, by business segment:

Private Passenger Auto – The net loss and loss
adjustment expense ratio increased 8.5 percentage points in the three-month period ended March 31, 2025, compared to the same period in
2024. This increase was driven by unfavorable prior year development on loss reserves in the current year quarter due to higher severity.

Non-Standard Auto – The net loss and loss adjustment
expense ratio increased 12.1 percentage points in the three-month period ended March 31, 2025, compared to the same period in 2024. This
increase was primarily driven by significant strategic reductions in net earned premium and unfavorable prior year development on liability
loss reserves in the current year quarter.

Home and Farm – The net loss and loss adjustment
expense ratio decreased 15.6 percentage points in the three-month period ended March 31, 2025, compared to the same period in 2024. This
decrease was driven by earned premium growth as well as lower frequency of large farm losses in the current quarter compared to the first
quarter of 2024.

Crop – The net losses and loss adjustment expenses
during the first quarter of any year are typically the result of the current year settlement of prior crop year claims. The majority of
crop insurance losses and loss adjustment expenses are generally incurred in the last three quarters of the calendar year.

All Other – The net loss and loss adjustment expense
ratio decreased 9.3 percentage points in the three-month period ended March 31, 2025, compared to the same period in 2024. This decrease
was driven by favorable loss development related to the continued run-off of our participation in an assumed domestic and international
reinsurance pool of business.

36 

Underwriting and General Expenses and Expense Ratio

    Three Months Ended March 31,