Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 1208

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 3
Chunk 1208
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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  
     20,452  
     1,149 
  
    Total incurred 
     230,971  
     244,412  
     294,432 

    Paid related to: 

    Current year 
     131,570  
     138,600  
     197,250 
  
    Prior years 
     80,636  
     90,548  
     62,760 
  
    Total paid 
     212,206  
     229,148  
     260,010 

    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 year: 

    Liability for unpaid losses and loss adjustment expenses 
     137,288  
     217,119  
     190,459 
  
    Reinsurance recoverables on losses 
     12,561  
     48,969  
     37,575 
  
    Net balance, end of year 
    $124,727  
    $168,150  
    $152,884 

During the year ended December 31, 2024, the Company’s
incurred reported losses and loss adjustment expense included $12,908 of net unfavorable development on prior accident years. This was
primarily attributable to unfavorable development for the Direct Auto non-standard auto business, partially offset by favorable development