Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 918

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 2
Chunk 918
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    2022 
  
    Net losses and loss adjustment expenses: 

    Private passenger auto 
    $51,869  
    $60,204  
    $65,420 
  
    Non-Standard auto 
     76,130  
     63,041  
     39,400 
  
    Home and farm 
     64,561  
     50,935  
     107,823 
  
    Crop 
     9,071  
     10,793  
     19,418 
  
    All other 
     5,834  
     1,543  
     9,689 
  
    Total net losses and loss adjustment expenses 
    $207,465  
    $186,516  
    $241,750 

    Year Ended December 31, 

    2024  
    2023  
    2022 
  
    Loss and loss adjustment expenses ratio: 

    Private passenger auto 
     57.4%  
     72.2%  
     84.3% 
  
    Non-Standard auto 
     79.9%  
     71.8%  
     58.9% 
  
    Home and farm 
     71.1%  
     61.1%  
     137.6% 
  
    Crop 
     42.9%  
     41.8%  
     55.9% 
  
    All other 
     46.1%  
     13.1%  
     68.6% 
  
    Total loss and loss adjustment expenses ratio 
     66.9%  
     63.8%  
     89.0% 

Below are comments regarding significant changes in net losses and
loss adjustment expenses, and the net loss and loss adjustment expenses ratios by business segment:

Private passenger auto – The net loss and loss
adjustment expenses ratio decreased 14.8 percentage points in 2024 compared to 2023. This decrease was driven by lower levels of weather-related
losses in the current year due to the mild winter in the Midwest compared to elevated winter weather-related losses in the prior year
as well as favorable prior year loss reserve development. Both periods were positively affected by earned premium growth. The net loss
and loss adjustment expenses