Nodak Insurance Company

08/08/2026 | Press release | Distributed by Public on 08/08/2026 10:21

NI Holdings, Inc. Reports Results for Second Quarter Ended June 30, 2026

AUGUST 08, 2026

FARGO, North Dakota, August 7, 2026 - NI Holdings, Inc. (NASDAQ: NODK) announced today results for the quarter ended June 30, 2026.

Summary of Second Quarter 2026 Results

(All comparisons vs. the second quarter of 2025, unless noted otherwise)

· Gross premiums written of $107.2 million compared to $111.8 million in the prior year quarter. This decrease was driven by Non-Standard Auto (-98.9%) reflecting the continued impact of the Company's strategic decision to exit the majority of the segment, as well as a decline in Private Passenger Auto (-8.0%) due to lower renewal premiums and new business in South Dakota and Nebraska, partially offset by increased new business in North Dakota. These declines were partially offset by All Other (+46.7%) due to increased assumed premiums from participation on catastrophe reinsurance programs of certain farm bureau insurance companies, and Crop (+8.8%) due to increased new business.

· Combined ratio of 107.7%, versus 125.1% in the prior year quarter. The improvement was primarily driven by lower catastrophe losses, favorable prior year development on loss reserves in Non-Standard Auto during the current year quarter compared to unfavorable prior year development in the prior year quarter, and improved growing conditions in Crop, partially offset by higher non-catastrophe weather-related losses in Home and Farm.

· Total pre-tax catastrophe loss of $15.0 million for the quarter, which was below our reinsurance retention and adversely impacted the second quarter and year-to-date loss and loss adjustment expense ratios by 23.1 and 12.5 percentage points, respectively. This compares to total pre-tax catastrophe loss, net of reinsurance, of $20.0 million and $3.3 million of related reinstatement premiums in the prior year quarter, which adversely impacted the prior year quarter and prior year-to-date loss and loss adjustment expense ratios by 30.2 and 15.7 percentage points, respectively.

· Net investment income of $2.8 million, down 10.7% from the prior year quarter, primarily due to a lower average fixed income portfolio balance.

· Basic earnings per share of $0.01, compared to basic loss per share of $(0.57) in the prior year quarter, reflecting improved profitability for the quarter.


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Three Months Ended June 30,

Six Months Ended June 30,

Dollars in thousands, except per share data

(unaudited)

2026



2025

Change

2026

2025

Change

Gross premiums written

$107,191

$111,828

(4.1%)

$164,703

$179,594

(8.3%)

Net premiums earned

$65,017

$73,005

(10.9%)

$120,130

$140,502

(14.5%)

Loss and LAE ratio

74.5%

91.2%

(16.7) pts

59.7%

74.8%

(15.1) pts

Expense ratio

33.2%

33.9%

(0.7) pts

35.1%

35.5%

(0.4) pts

Combined ratio

107.7%

125.1%

(17.4) pts

94.8%

110.3%

(15.5) pts

Net investment income

$2,810

$3,146

(10.7%)

$5,465

$5,984

(8.7%)

Net investment gains (losses)

$2,063

$(410)

NM

$3,767

$459

NM

Net income

$146

$(12,051)

NM

$12,654

$(5,591)

NM

Return on average equity

0.2%

(19.4%)

19.6 pts

10.3%

(4.6%)

14.9 pts

Basic earnings per share

$0.01

$(0.57)

NM

Nodak Insurance Company published this content on August 08, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on August 08, 2026 at 16:21 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]