---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-22-000639"
form_type: "8-K"
ticker: "NODK"
cik: "0001681206"
company_name: "NI Holdings, Inc."
filed_at: "2022-05-06T23:59:59+00:00"
generated_at: "2026-06-25T23:02:48.764409+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# NI Holdings Q1 net income drops 80% to $1.9M ($0.09/sh) on investment losses

## Summary
- Net income of $1.9M ($0.09/sh) vs $9.7M ($0.45/sh) prior-year, down 80.3%.
- Combined ratio improved to 91.3% from 92.1%; underwriting gain up 20.9% to $6.1M.
- ROE fell to 2.3% from 11.2% due to unrealized investment losses from rising rates and equity markets.
- Direct written premiums grew 4.3% to $75.5M; shareholders' equity down 4.4% to $332.3M.
- Repurchased 54,872 shares at avg $18.17 for $1.0M during the quarter.

## SEC filing metadata
- accession: 0001174947-22-000639
- form_type: 8-K
- ticker: NODK
- cik: 0001681206
- company_name: NI Holdings, Inc.
- filed_at: 2022-05-06T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1681206/000117494722000639/0001174947-22-000639-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1681206/000117494722000639/form8k-27983_nodk.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-22-000639
- JSON: https://secwatch.observer/filing/0001174947-22-000639.json
- Plain text: https://secwatch.observer/filing/0001174947-22-000639.txt

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