Company: NODK
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001174947-25-001142
Chunk: 130

Company: NI Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 130
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 to: 

    Current year 
     93,894  
     125,235 
  
    Prior years 
     11,238  
     7,773 
  
    Total incurred 
     105,132  
     133,008 

    Paid related to: 

    Current year 
     30,151  
     45,494 
  
    Prior years 
     47,456  
     54,372 
  
    Total paid 
     77,607  
     99,866 

    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 period: 

    Liability for unpaid losses and loss adjustment expenses 
     203,530  
     148,527 
  
    Reinsurance recoverables on losses 
     51,278  
     9,423 
  
    Net balance, end of period 
    $152,252  
    $139,104 

During the six months ended
June 30, 2025, the Company’s incurred reported losses and loss adjustment expense included $11,238 of net unfavorable development
on prior accident years. This was primarily attributable to unfavorable development for the Non-Standard Auto segment. During the six
months ended June 30, 2024, the Company’s incurred reported losses and loss adjustment expenses included $7,773 of net unfavorable
development on prior accident years, primarily attributable to unfavorable development for the Non-Standard Auto segment. During 2024,
Westminster was sold and all associated liabilities were included in the sale.

Changes in unpaid losses and loss adjustment expense reserves
are generally the result of ongoing analysis of recent loss development trends. As additional information becomes known regarding individual
claims, original estimates are increased or decreased accordingly.

21 

The tables for the current and comparable prior year continuing
and discontinued operations showing the liability for unpaid losses and loss adjustment expense are shown below:

    Six Months Ended June 30, 

    2025  
    2024 
  
    Continuing operations: 

    Balance, beginning of period: 

    Liability for unpaid losses and loss adjustment expenses