---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-078089"
form_type: "8-K"
ticker: "NODK"
cik: "0001681206"
company_name: "NI Holdings, Inc."
filed_at: "2024-07-05T23:59:59+00:00"
generated_at: "2026-05-31T23:21:58.256537+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# NI Holdings completes $10.5M sale of commercial insurer Westminster; records $14.4M loss on sale

## Summary
- Sale of Westminster American Insurance Company closed June 30, 2024 for $10.5 million in cash to Scott Insurance Holdings.
- Estimated net loss on sale of $14.4 million reduces pro forma shareholders' equity from $255.8M to $241.4M.
- Transaction represents strategic exit from majority of commercial insurance operations; results classified as discontinued operations.
- Pro forma net income for Q1 2024 is $7.0M vs $6.4M as reported; 2023 pro forma net income $16.2M vs $(5.5M) loss.
- Post-closing adjustment based on Westminster's statutory surplus vs $20M threshold; amount not yet estimable.

## SEC filing metadata
- accession: 0001104659-24-078089
- form_type: 8-K
- ticker: NODK
- cik: 0001681206
- company_name: NI Holdings, Inc.
- filed_at: 2024-07-05T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1681206/000110465924078089/0001104659-24-078089-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1681206/000110465924078089/tm2418546d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-078089
- JSON: https://secwatch.observer/filing/0001104659-24-078089.json
- Plain text: https://secwatch.observer/filing/0001104659-24-078089.txt

## Key facts
- M&A Transactions
  NI Holdings, Inc. completed a disposition involving Scott Insurance Holdings, LLC for $10.5 million (closed 2024-06-30).
  - Action: disposition
  - Counterparty: Scott Insurance Holdings, LLC
  - Consideration: $10.5 million
  - Closing: 2024-06-30
  source text: On June 30, 2024 (“Closing Date”), the Company completed the previously announced sale of Westminster to Scott Insurance Holdings for a cash purchase price of $10.5 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1681206/000110465924078089/0001104659-24-078089-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.