Company: NODK
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001174947-25-000721
Chunk: 2

Company: NI Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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    Losses and loss adjustment expenses 
     38,525  
     40,144 
  
    Amortization of deferred policy acquisition costs 
     16,528  
     16,817 
  
    Other underwriting and general expenses 
     8,632  
     8,705 
  
    Total expenses 
     63,685  
     65,666 

    Income from continuing operations before income taxes 
     7,749  
     8,833 
  
    Income tax expense 
     1,289  
     1,898 
  
    Net income from continuing operations 
     6,460  
     6,935 
  
    Loss from discontinued operations, net of income taxes 
     —  
     (516)
  
    Net income 
    $6,460  
    $6,419 

    Earnings per common share from continuing operations: 

    Basic 
    $0.31  
    $0.33 
  
    Diluted 
    $0.31  
    $0.33 

    Earnings per common share: 

    Basic 
    $0.31  
    $0.31 
  
    Diluted 
    $0.31  
    $0.30 

    Share data: 

    Weighted average common shares outstanding used in basic per common share calculations 
     21,014,923  
     20,932,774 
  
    Dilutive securities 
     81,207  
     113,305 
  
    Weighted average common shares used in diluted per common share calculations 
     21,096,130  
     21,046,079 

The accompanying notes are an integral part of these consolidated financial
statements. 

4 

NI Holdings, Inc.

Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

(dollar amounts in thousands) 

    Three Months Ended March 31 

    2025  
    2024 
  
    Net income 
    $6,460  
    $6,419 

    Other comprehensive income (loss), before income taxes: 

    Holding gains (losses) on investments 
     3,313  
     (1,817)
  
    Reclassification adjustment for net realized losses included in net income