NI Holdings Q4 net income falls 72% to $6.1M; full-year combined ratio above 100%

NI Holdings, Inc.

Q4 net income $6.1M ($0.29 EPS) vs $21.6M ($1.01 EPS) prior year; full-year $8.4M ($0.39 EPS) vs $40.4M ($1.86 EPS).
Direct written premiums +7.4% in Q4, +8.9% for year, driven by commercial and non-standard auto segments.
Combined ratio: Q4 98.6% vs 79.1%; full-year 104.4% vs 89.4% – weather, inflation, drought impacted.
Repurchased 56,812 shares ($19.44 avg) in Q4 for $1.1M; full-year 225,205 shares for $4.3M.
No earnings conference call to be held for Q4 2021.

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