Company: NODK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001174947-25-001356
Chunk: 372

Company: NI Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 372
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 (143) 
     29,428  
     (4,777) 
     37,893  
     (4,920)
  
    Corporate securities 
     25,790  
     (481) 
     76,364  
     (7,036) 
     102,154  
     (7,517)
  
    Residential mortgage-backed securities 
     20,827  
     (451) 
     23,159  
     (4,530) 
     43,986  
     (4,981)
  
    Commercial mortgage-backed securities 
     1,409  
     (50) 
     19,442  
     (2,893) 
     20,851  
     (2,943)
  
    Asset-backed securities 
     10,926  
     (122) 
     20,579  
     (3,179) 
     31,505  
     (3,301)
  
    Redeemable preferred stocks 
     —  
     —  
     3,249  
     (488) 
     3,249  
     (488)
  
    Total fixed income securities 
    $72,860  
    $(1,356) 
    $176,398  
    $(23,129) 
    $249,258  
    $(24,485)

We, along with our investment advisor, frequently
review our investment portfolio for declines in fair value that could be indicative of credit losses, which 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 have not recognized any credit losses for fixed income securities since adoption
of the credit loss standard. Therefore, there was no beginning balance, activity, or ending balance of credit losses as of and during
the nine months ended September 30, 2025 and 2024. See Part II, Item 8, Note 3 “Summary of Significant Accounting Policies and
Basis of