Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 1618

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 5
Chunk 1618
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    Less than 12 Months  
    Greater than 12 months  
    Total 

    Fair Value  
    Unrealized
 Losses  
    Fair Value  
    Unrealized
 Losses  
    Fair Value  
    Unrealized
 Losses 
  
    Fixed income securities: 

    Continuing operations 
    $24,049  
    $(509) 
    $211,367  
    $(24,390) 
    $235,416  
    $(24,899)
  
    Discontinued operations 
     8,403  
     (70) 
     35,377  
     (5,350) 
     43,780  
     (5,420)
  
    Total fixed income securities 
    $32,452  
    $(579) 
    $246,744  
    $(29,740) 
    $279,196  
    $(30,319)

We, along with our investment advisor, frequently
review our investment portfolio for declines in fair value that could be indicative of credit losses. Beginning on December 31, 2022,
credit losses are recognized through an allowance account. We consider a number of factors when determining if an allowance for credit
losses is necessary, including payment and default history, credit spreads, credit ratings and rating actions, and probability of default.
We determine the credit loss component of fixed income investments by utilizing discounted cash flow modeling to determine the present
value of the security and comparing the present value with the amortized cost of the security. We did not recognize any credit losses
for fixed income securities at the time of adoption of the new credit loss accounting standard and have not recognized any credit losses
for fixed income securities since adoption of the credit loss standard. Therefore, there were no beginning or ending balances of credit
losses during the years ended December 31, 2024 or 2023. See Item II, Part 8, Note 3 “Summary of Significant Accounting Policies
and Basis of Presentation” section for additional information.

66 

Net investment income for continuing and discontinued operations
consisted of the following:

    Year Ended December 31, 

    2024  
    2023  
    2022 
  
    Continuing operations: 

    Fixed income securities 
    $11,401  
    $9,418  
    $8,216 
  
    Equity securities