Company: NODK
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001174947-25-001142
Chunk: 133

Company: NI Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 133
---
 —  
     —  
     (2,628) 
     —  
     (2,628)
  
    Goodwill, end of period 
    $—  
    $—  
    $—  
    $—  
    $—  
    $— 

We performed a quantitative assessment of
the goodwill related to the Primero acquisition during the fourth quarter of 2024, which is allocated to our Non-Standard Auto segment,
and concluded that the goodwill was fully impaired as of December 31, 2024, resulting in a non-cash impairment charge of $2,628. See the
Part II, Item 8, Note 10 “Goodwill and Other Intangibles” section of the 2024 Annual Report for additional information.

Other Intangible Assets

The gross and net carrying value of the
Company’s other intangible assets were $100 at June 30, 2025, and December 31, 2024, and consist of the state insurance license
for Direct Auto, which has an indefinite life.

We determined during our reviews that the
other indefinite-lived intangible assets were not impaired as of June 30, 2025, or December 31, 2024.

Amortization expense was $0 and $105 for the three months
ended June 30, 2025 and 2024, respectively, and $0 and $211 for the six months ended June 30, 2025 and 2024, respectively. Amortization
expense for continuing operations was $0 for the three months ended June 30, 2025 and 2024, and $0 for the six months ended June 30, 2025
and 2024.

23 

  10.  
  Royalties, Dividends, and Affiliations

North Dakota Farm Bureau

Nodak Insurance was organized by the North Dakota Farm Bureau (“NDFB”)
to provide insurance protection for its members. We have a royalty agreement with the NDFB that recognizes the use of their trademark
and provides royalties to the NDFB based on the premiums written on Nodak Insurance’s policies. Royalties paid to the NDFB were
$522 and $480 during the three months ended June 30, 2025 and 2024, respectively, and $962 and $883 for the six months ended June 30,
2025 and