NI (US:NODK)2025-11-07 21:08Premiums and Revenue - Direct written premiums decreased by 13.7% to $58.5 million compared to $67.7 million in the prior period, primarily due to an 80.0% decline in Non-Standard Auto business[4] - Net earned premiums fell by 13.6% to $71.9 million from $83.3 million year-over-year[4] - Home and Farm premiums increased by 10.1%, attributed to new business growth in North Dakota and rate increases[7] Losses and Ratios - The combined ratio improved to 109.1% from 111.0%, with unfavorable prior year loss reserve development contributing significantly to both periods[7] - Net loss attributable to NI Holdings decreased by 38.4% to $(1.7) million compared to $(2.7) million in the prior year[4] - Basic loss per share improved to $(0.08) from $(0.13), reflecting a 38.5% reduction in losses[4] - The loss and LAE ratio remained stable at 78.2% for the current quarter[4] Investment Performance - Net investment income increased by 8.1% to $3.0 million, driven by higher reinvestment rates in the fixed income portfolio[7] Strategic Decisions - The company made a strategic decision to stop writing non-standard auto business in Illinois, Arizona, and South Dakota to enhance underwriting performance[5] - The company anticipates that the strategic shift will lead to greater stability and improved future performance[5]