Company: NODK
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001174947-25-001142
Chunk: 124

Company: NI Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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, reporting characteristics of the underlying reinsured business,
historical experience, current economic conditions, and the state of reinsurer relations in general. Collection risk is mitigated by entering
into reinsurance arrangements only with reinsurers that have strong credit ratings and statutory surplus above certain levels. At June
30, 2025, and December 31, 2024, management has concluded that it is not necessary to record an allowance for expected credit losses related
to reinsurance recoverables. All of our significant reinsurance partners are rated “A-” (Excellent) or better by AM Best or
“A+” or better by Standard & Poor’s, and there is no history of write-offs.

A reconciliation of direct to net premiums on both a written
and an earned basis, presented on a consolidated basis, including both continuing and discontinued operations, is as follows:

    Three Months Ended June 30, 2025  
    Three Months Ended June 30, 2024 

    Premiums Written  
    Premiums Earned  
    Premiums Written  
    Premiums Earned 
  
    Direct premium 
    $109,519  
    $82,542  
    $140,488  
    $111,082 
  
    Assumed premium 
     2,309  
     696  
     2,340  
     653 
  
    Ceded premium 
     (18,518) 
     (10,233) 
     (16,265) 
     (11,183)
  
    Net premiums 
    $93,310  
    $73,005  
    $126,563  
    $100,552 

17 

    Six Months Ended June 30, 2025  
    Six Months Ended June 30, 2024 

    Premiums Written  
    Premiums Earned  
    Premiums Written  
    Premiums Earned 
  
    Direct premium 
    $177,247  
    $154,704  
    $243,145  
    $205,982 
  
    Assumed premium 
     2,347  
     735  
     2,477  
     804 
  
    Ceded premium 
     (23,222) 
     (14,937) 
     (26,072) 
     (20,677)
  
    Net