Company: NODK
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001174947-25-000721
Chunk: 27

Company: NI Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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,528) 
     (16,817)
  
    Balance, end of period 
    $23,813  
    $28,948 

    Three Months Ended March 31, 

    2025  
    2024 
  
    Discontinued operations: 

    Balance, beginning of period 
    $—  
    $7,330 
  
    Deferral of policy acquisition costs 
     —  
     4,133 
  
    Amortization of deferred policy acquisition costs 
     —  
     (3,846)
  
    Balance, end of period 
    $—  
    $7,617 

  7. 
  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:

    Three Months Ended March 31, 

    2025  
    2024 
  
    Balance, beginning of period: 

    Liability for unpaid losses and loss adjustment expenses 
    $137,288  
    $217,119 
  
    Reinsurance recoverables on losses 
     12,561  
     48,969 
  
    Net balance, beginning of period 
     124,727  
     168,150 

    Incurred related to: 

    Current year 
     37,107  
     50,925 
  
    Prior years 
     1,418  
     1,284 
  
    Total incurred 
     38,525  
     52,209 

    Paid related to: 

    Current year 
     10,375  
     12,940 
  
    Prior years 
     25,637  
     31,897 
  
    Total paid 
     36,012  
     44,837 

    Balance, end of period: 

    Liability for unpaid losses and loss adjustment expenses 
     135,886  
     225,006 
  
    Reinsurance recoverables on losses 
     8,646  
     49,484 
  
    Net balance, end of period 
    $127,240  
    $175,522 

19 

During the three months ended
March 31, 2025, the Company’s incurred reported losses and loss adjustment expense included $1,