Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 2087

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 7
Chunk 2087
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12,272. The sale closed on June 30, 2024, and we reported an after-tax
loss on the sale of discontinued operations of $11,148. For additional information see Part II, Item 8, Note 3 “Summary of Significant
Accounting Policies and Basis of Presentation.”

The assets and liabilities associated with discontinued
operations prior to the closing of the sale have been presented separately in our Consolidated Balance Sheets. The Company’s Consolidated
Statements of Cash Flows presents operating, investing, and financing cash flows of the discontinued operations separately. The major
assets and liability categories were as follows as of the dates indicated:

    December 31, 2024  
    December 31, 2023 
  
    Assets: 

    Cash and cash equivalents 
    $—  
    $15,656 
  
    Fixed income securities, at fair value 
     —  
     58,332 
  
    Equity securities, at fair value 
     —  
     5,784 
  
    Total cash and investments 
     —  
     79,772 

    Premiums and agents’ balances receivable 
     —  
     17,904 
  
    Deferred policy acquisition costs 
     —  
     7,330 
  
    Reinsurance premiums receivable 
     —  
     5,464 
  
    Reinsurance recoverables on losses 
     —  
     42,509 
  
    Accrued investment income 
     —  
     438 
  
    Property and equipment, net 
     —  
     2,445 
  
    Deferred income taxes 
     —  
     (815)
  
    Goodwill and other intangibles 
     —  
     7,311 
  
    Other assets 
     —  
     99 
  
    Total assets of discontinued operations 
    $—  
    $162,457 

    Liabilities: 

    Unpaid losses and loss adjustment expenses 
    $—  
    $97,934 
  
    Unearned premiums 
     —  
     38,000 
  
    Income tax payable (receivable) 
     —  
     (59)
  
    Accrued expenses and other liabilities 
     —  
     5,422 
  
    Total liabilities of discontinued operations