Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 45

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1
Chunk 45
---
,117  
    $271,740 
  
    Losses and loss adjustment expenses 
     207,465  
     186,516  
     241,750 
  
    Amortization of deferred policy acquisition costs and other underwriting and general expenses 
     104,966  
     96,957  
     78,908 
  
    Underwriting gain (loss) 
     (2,321) 
     8,644  
     (48,918)

    Fee and other income 
     1,938  
     1,940  
     1,381 
  
    Net investment income 
     10,943  
     8,034  
     6,636 
  
    Net investment gains (losses) 
     2,213  
     1,929  
     (11,975)
  
    Goodwill impairment charge 
     (2,628) 
     —  
     — 
  
    Income (loss) from continuing operations before income taxes 
     10,145  
     20,547  
     (52,876)
  
    Income tax expense (benefit) 
     3,545  
     716  
     (14,191)
  
    Net income (loss) from continuing operations 
    $6,600  
    $19,831  
    $(38,685)

30 

Net Premiums Earned

    Year Ended December 31, 

    2024  
    2023  
    2022 
  
    Net premiums earned: 

    Direct premium 
    $341,885  
    $325,590  
    $299,607 
  
    Assumed premium 
     2,984  
     3,570  
     6,550 
  
    Ceded premium 
     (34,759) 
     (37,043) 
     (34,417)
  
    Total net premiums earned 
    $310,110  
    $292,117  
    $271,740 

Net premiums earned for the year ended December 31, 2024 increased
$17,993, or 6.2%, to $310,110, compared to $292,117 for the year ended December 31, 2023.

Net premiums