earnings
confidence high
sentiment negative
materiality 0.80
NI Holdings reports Q2 net loss of $45.9M driven by $49.1M catastrophe losses
NI Holdings, Inc.
2022-Q2 EPS reported
-$2.06
revenue$141,930,000
- Net loss of $45.9M vs $2.6M loss in Q2 2021; diluted EPS loss of $2.15.
- Direct written premiums grew 15.5% to $145.0M, led by Crop, Commercial, and Non-Standard Auto.
- Underwriting loss of $50.3M from $49.1M pre-tax catastrophe losses (prior year $10.0M).
- Net investment losses of $11.1M vs gains of $4.7M a year ago, due to equity market conditions.
- Repurchased 56,372 shares at avg $16.58 for $0.9M during the quarter.