FARGO, N.D., Aug. 25, 2025 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (the “Company”, NASDAQ: NODK) announced today that its Board of Directors has approved an authorization for the repurchase of up to approximately $5 million of the Company’s outstanding common stock. This supports our planned approach to capital deployment to create long-term value for our shareholders. This authorization is in addition to the approximately $1.3 million remaining under the Board’s previous repurchase authorization announced on ...

FARGO, N.D., Aug. 08, 2025 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) announced today results for the quarter ended June 30, 2025. Summary of Second Quarter 2025 Results – Continuing Operations(All comparisons vs. continuing operations for the second quarter of 2024, unless noted otherwise) Direct written premiums of $109.5 million compared to $118.5 million. This reduction was driven by Non-Standard Auto (-56.4%) due to the continued impact of the strategic decision to significantly decrease our ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-37973 NI HOLDINGS, INC. (Exact name of registrant as specified in its charter) NORTH DAKOTA 81-2683619 (State or other jurisdiction of (I.R.S. ...

| | | Three Months Ended June 30, | | | Six Months Ended June 30, | | | --- | --- | --- | --- | --- | --- | --- | | Dollars in thousands, except per share data | | | | | | | | (unaudited) | 2025 | 2024 | Change | 2025 | 2024 | Change | | Direct written premiums | $109,519 | $118,472 | (7.6%) | $177,247 | $201.513 | (12.0%) | | Net earned premiums | $73,005 | $85,169 | (14.3%) | $140,502 | $155,053 | (9.4%) | | Loss and LAE ratio | 91.2% | 81.4% | 9.8 pts | 74.8% | 70.6% | 4.2 pts | | Expense ratio | 33.9% | ...

FARGO, N.D., July 17, 2025 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (the “Company”, NASDAQ: NODK) today announced a strategic leadership appointment to support the Company’s long-term growth and execution of its core business strategies. Kelly Dawson has recently joined the Company as Senior Vice President and Chief Human Resources Officer. In this newly created role, Kelly will have oversight of all aspects of human resources, including talent acquisition, employee engagement, compliance and organizational de ...

FARGO, N.D., May 27, 2025 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (the “Company”, NASDAQ: NODK) today announced several strategic leadership appointments to support the company’s long-term growth and execution of its core business strategies. “We are excited to announce multiple executive leadership appointments,” said Seth Daggett, President and Chief Executive Officer of NI Holdings. “These individuals bring deep operational knowledge, extensive industry experience and strategic insight to our executive tea ...

Group 1 - The individual has extensive experience in large mining projects, financial control, and consulting across various sectors, including primary industry and food processing [1] - The individual has held financial controller positions in notable companies such as Utah International Inc, General Electric Inc, and BHP Billiton [1] - A unique skill identified is the assessment of long-term projects where costs are front-loaded and future revenues are uncertain [1] Group 2 - The individual emphasizes that calculating future value per share is more beneficial for determining potential exit value and rate of return than calculating present value per share [1]

Core Insights - NI Holdings, Inc. reported a decrease in direct written premiums by 18.4% year-over-year, totaling $67.7 million compared to $83.0 million in the first quarter of 2024 [3][7] - The company achieved a net income of $6.46 million, reflecting a 6.8% decline from $6.94 million in the same quarter last year [3][4] - The combined ratio increased slightly to 94.4%, up from 93.9% in the previous year, indicating a marginal rise in underwriting expenses relative to earned premiums [3][7] Financial Performance - Direct written premiums decreased to $67,728 thousand from $83,041 thousand, primarily due to a significant reduction in the Non-Standard Auto segment, which saw a decline of 58.8% [3][7] - Net earned premiums also fell by 3.4%, from $69,884 thousand to $67,497 thousand [3] - The loss and LAE (Loss Adjustment Expense) ratio improved slightly to 57.1% from 57.4%, while the expense ratio increased to 37.3% from 36.5% [3] Operational Highlights - The company reported solid growth in core personal line segments, particularly in North Dakota, attributed to increased new business and strong retention rates [4] - Favorable weather conditions and lower large loss frequency in the Home and Farm segment contributed positively to performance [4] - Management emphasized a renewed focus on strategic actions to return the Non-Standard Auto segment to profitability, which impacted overall premium figures [5][6] Shareholder Value - Return on average equity decreased to 10.4% from 12.1%, reflecting a decline in profitability metrics [3] - Basic earnings per share remained stable at $0.31, compared to $0.33 in the previous year, indicating a slight decrease in earnings from continuing operations [3][7] - The company aims to create lasting value for shareholders through sustained growth and profitability over time [6]

Financial Results Announcement - The company announced its financial results for the quarter ended March 31, 2025, on May 9, 2025[5] - A press release detailing the financial results was issued, which is attached as Exhibit 99.1[5] Company Information - The company is listed on the Nasdaq Capital Market under the trading symbol NODK[3] - The report indicates that the company is not an emerging growth company[4] Regulatory Information - The financial information provided is not deemed "filed" under the Securities Exchange Act of 1934[6] - The report includes a cover page interactive data file with embedded XBRL tags[7]

Financial Performance - Net income for Q1 2025 was $6,460, a decrease of 6.8% from $6,935 in Q1 2024[140] - Net premiums earned decreased by $2,387, or 3.4%, to $67,497 in Q1 2025 from $69,884 in Q1 2024[142] - The combined ratio for Q1 2025 was 94.4%, an increase of 0.5 percentage points from 93.9% in Q1 2024[161] - Underwriting gain decreased by $406 to $3,812 in Q1 2025 compared to $4,218 in Q1 2024[160] - The expense ratio increased to 37.3% in Q1 2025 from 36.5% in Q1 2024[158] - Net losses and loss adjustment expenses decreased by $1,619, or 4.0%, to $38,525 in Q1 2025 from $40,144 in Q1 2024[150] Investment Income - Net investment income increased by $83 to $2,838 in Q1 2025 from $2,755 in Q1 2024[163] - For the three months ended March 31, 2025, net investment gains totaled $869 million, a decrease from $1,456 million in the same period of 2024[165] - Net realized gains for the three months ended March 31, 2025, were $326 million, compared to net realized losses of $91 million for the same period in 2024[165] - The fixed income portion of the portfolio experienced net unrealized gains of $3,313 million for the three months ended March 31, 2025, compared to net unrealized losses of $1,531 million in the same period of 2024[167] Tax and Cash Flow - Pre-tax income for the three months ended March 31, 2025, was $7,749 million, down from $8,833 million in the same period of 2024[168] - The effective tax rate for the first quarter of 2025 was 16.6%, down from 21.5% in the first quarter of 2024[169] - Net cash provided by operating activities for the three months ended March 31, 2025, was $9,888 million, compared to $16,663 million in the prior year quarter[177] - The net increase in cash and cash equivalents for the three months ended March 31, 2025, was $6,272 million, down from $12,342 million in the same period of 2024[176] Liquidity and Dividends - The amount available for payment of dividends from Nodak Insurance to NI Holdings during 2025 is approximately $8,273 million as of December 31, 2024[182] - The company expects to maintain a high degree of liquidity in its investment portfolio to meet claim settlements and operating expenses for the foreseeable future[174] Premiums - Private Passenger Auto premiums increased by $556, or 2.5%, while Non-Standard Auto premiums decreased by $6,736, or 27.0%[144][145] - Fee and other income decreased to $230 in Q1 2025 from $404 in Q1 2024, primarily due to strategic reductions in the Non-Standard Auto segment[162]