NI Holdings Q3 net loss $4.7M (-$0.22/sh) vs net income $3.7M a year ago; combined ratio 110.9%

NI Holdings, Inc.

2022-Q3 EPS reported $0.11 revenue$238,620,000

Net loss attributable of $4.7M (-$0.22/sh) vs net income $3.7M ($0.17/sh) in prior-year Q3.
Direct written premiums +0.9% to $68.9M; net earned premiums +12.0% to $82.2M.
Combined ratio worsened to 110.9% from 103.6%, driven by weather, auto claims frequency, and drought on crop segment.
After-tax decrease of $2.0M in net unrealized gains on equity securities hurt EPS by -$0.25 vs prior-year quarter.
New $5M share repurchase authorization approved; 49,862 shares repurchased in Q3.

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