Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 1842

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 6
Chunk 1842
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2 
  
    Continuing operations: 

    Balance, beginning of year 
    $26,790  
    $22,675  
    $19,047 
  
    Deferral of policy acquisition costs 
     70,767  
     71,746  
     57,233 
  
    Amortization of deferred policy acquisition costs 
     (71,257) 
     (67,631) 
     (53,605)
  
    Balance, end of year 
    $26,300  
    $26,790  
    $22,675 

    Year Ended December 31, 

    2024  
    2023  
    2022 
  
    Discontinued operations: 

    Balance, beginning of period 
    $7,330  
     7,093  
     5,900 
  
    Deferral of policy acquisition costs 
     8,596  
     15,597  
     14,391 
  
    Amortization of deferred policy acquisition costs 
     (7,928) 
     (15,360) 
     (13,198)
  
    Westminster balance disposed in sale 
     (7,998) 
     —  
     — 
  
    Balance, end of year 
    $—  
    $7,330  
    $7,093 

73 

8.       Unpaid
Losses and Loss Adjustment Expenses

Activity in the liability for unpaid losses and
loss adjustment expenses is summarized as follows for both continuing and discontinued operations:

    Year Ended December 31, 

    2024  
    2023  
    2022 
  
    Balance, beginning of year: 

    Liability for unpaid losses and loss adjustment expenses 
    $217,119  
    $190,459  
    $139,662 
  
    Reinsurance recoverables on losses 
     48,969  
     37,575  
     21,200 
  
    Net balance, beginning of year 
     168,150  
     152,884  
     118,462 

    Incurred related to: 

    Current year 
     218,063  
     223,960  
     293,283 
  
    Prior years 
     12,908