Ni Hldgs Inc Stock Price, News & Analysis

NI Holdings (NASDAQ: NODK) has announced a new $5 million stock repurchase program, supplementing its existing $1.3 million authorization from May 2022. This brings the total available for share repurchases to $6.3 million.

The company, which had 20,675,337 outstanding shares as of July 31, 2025, will execute the buyback at management's discretion based on market conditions, trading prices, and legal requirements. The program can be suspended, modified, or discontinued at any time.

NI Holdings operates as an insurance holding company, primarily through its subsidiary Nodak Insurance Company and other insurance subsidiaries including American West Insurance, Primero Insurance, Battle Creek Insurance, Direct Auto Insurance, and Westminster Insurance Company.

NI Holdings (NASDAQ: NODK) reported challenging second quarter 2025 results, with direct written premiums declining to $109.5 million, down 7.6% from Q2 2024. The company faced significant headwinds, including a combined ratio of 125.1% (versus 113.7% in Q2 2024) and catastrophic losses of $20.0 million from severe storms in North Dakota.

Key financial metrics showed deterioration, with a net loss of ($12.1 million) and basic loss per share of ($0.57). The decline in premiums was primarily due to a strategic reduction in Non-Standard Auto (-56.4%), partially offset by growth in Home and Farm (8.1%). Despite challenges, net investment income showed strength, increasing 40.8% to $2.7 million, driven by higher reinvestment rates in the fixed income portfolio.

[ "Net investment income increased 40.8% to $2.7 million due to higher reinvestment rates", "Home and Farm segment grew 8.1% with higher rates and new business growth in North Dakota", "Geographic diversification showing positive results in South Dakota and Nebraska markets" ]

NI Holdings, Inc. (NASDAQ: NODK) has announced the appointment of Kelly Dawson as Senior Vice President and Chief Human Resources Officer. In this newly created position, Dawson will oversee all HR aspects, including talent acquisition, employee engagement, compliance, and organizational development.

Dawson brings over 20 years of human resources experience and holds degrees from Claremont Graduate University and Stetson University. The appointment aligns with the company's strategic focus on talent management and organizational growth initiatives.

NI Holdings operates as an insurance holding company, with Nodak Insurance Company as its wholly-owned subsidiary, alongside other insurance subsidiaries including American West Insurance Company, Primero Insurance Company, Battle Creek Insurance Company, Direct Auto Insurance Company, and Westminster Insurance Company.

NI Holdings (NASDAQ: NODK) has announced several key executive leadership appointments to strengthen its management team. Kevin Elfstrand has been promoted to SVP and Chief Accounting Officer, bringing 20+ years of P&C insurance experience. Brandon Nicol becomes SVP of Reinsurance and Chief Underwriting Officer with 19 years of industry expertise. Chris Oen has been elevated to SVP and Chief Claims Officer, leveraging 30 years of experience. Dominic Weber, with 42 years in P&C insurance, is now SVP and Chief Actuary. Additionally, Doug Duncan joins as SVP and Chief Information Officer, bringing 25 years of technology leadership experience. These appointments aim to support the company's long-term growth and execution of core business strategies.

AM Best has downgraded the Long-Term Issuer Credit Ratings (ICR) of Nodak Insurance Group to "a" from "a+" while maintaining its Financial Strength Rating (FSR) of A (Excellent). The company's parent, NI Holdings (NODK), also saw its ICR downgraded to "bbb" from "bbb+". The downgrades reflect volatility in operating results over the past five years due to weather-related losses, inflationary pressures, and challenges in non-standard auto lines. The group reported its highest combined ratio of 118.5% in 2022, with four consecutive years above break-even. Management is addressing these issues through rate increases, underwriting revisions, and strategic non-renewals, focusing on core business in the Midwest region.

NI Holdings (NASDAQ: NODK) reported its Q1 2025 financial results with mixed performance. The company achieved a combined ratio of 94.4% driven by strong performance in Home and Farm and Private Passenger Auto segments. Direct written premiums decreased to $67.7 million from $83.0 million, primarily due to strategic exits from Nevada and reduced presence in Chicago's Non-Standard Auto market. However, Home and Farm segment saw 7.1% growth. Net investment income increased 3.0% to $2.8 million. The company reported basic earnings per share of $0.31, compared to $0.33 in Q1 2024. The loss and LAE ratio improved slightly to 57.1%, while the expense ratio increased to 37.3%. Management highlighted the company's focus on underwriting profitability and strategic growth in core North Dakota and South Dakota markets.

NI Holdings (NASDAQ: NODK) reported its Q4 and full-year 2024 results, with Q4 net income of $9.9 million and a 16.2% return on average equity. The Q4 combined ratio was 80.0%, while the full-year ratio increased to 100.7% from 97.0% in 2023.

Q4 direct written premiums decreased 7.9% to $73.1 million, though full-year premiums slightly increased by 0.3% to $342.3 million. Net investment income saw significant growth, rising 36.2% to $10.9 million due to higher fixed income reinvestment rates.

The company faced challenges in its Non-Standard Auto segment with unfavorable reserve development, while Private Passenger Auto and Home and Farm segments showed improved performance. Earnings per share were $0.47 for Q4 2024 (vs $0.92 in Q4 2023) and $0.31 for full-year 2024 (vs $0.93 in 2023).

Under new CEO Seth Daggett, the company plans to focus on improving its risk profile and developing a long-term strategic plan centered on its North Dakota foundation, including increased investments in technology and enhanced distribution management.

NI Holdings (NASDAQ: NODK) announced the appointment of Seth C. Daggett as President and CEO, effective December 1, 2024. Daggett, who previously served as the company's CFO and Treasurer, brings over two decades of industry experience. He succeeds Cindy L. Launer, who served as Interim CEO and will return to her role as an independent non-executive director. Following Daggett's promotion, Matt Maki, Vice President of Financial Planning and Analysis, will become Interim CFO while the company searches for a permanent replacement.

NI Holdings (NASDAQ: NODK) reported Q3 2024 results with direct written premiums of $67.7 million, slightly down from $67.9 million in Q3 2023. Net earned premiums increased 9.0% to $83.3 million. The company's combined ratio deteriorated to 111.0% from 100.8%, impacted by increased non-catastrophe weather-related losses and CEO transition costs. Net investment income grew 32.5% to $2.8 million. The company reported a basic loss per share of ($0.13) compared to earnings of $0.03 in the same period last year. Home and Farm segment showed growth of 11.6%, while Non-Standard Auto declined by 35.8%.