---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-22-001177"
form_type: "8-K"
ticker: "NODK"
cik: "0001681206"
company_name: "NI Holdings, Inc."
filed_at: "2022-11-07T23:59:59+00:00"
generated_at: "2026-06-22T05:32:46.403280+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NI Holdings reports Q3 2022 EPS loss of $0.47; combined ratio worsens to 114.4%

## Summary
- Direct written premiums grew 17.8% to $81.1M, driven by Non-Standard Auto and Commercial segments.
- Combined ratio of 114.4% vs 110.8%, impacted by inflation, catastrophe losses, and adverse development.
- Pre-tax catastrophe losses net of reinsurance were $19.6M for Q3, $68.7M YTD, adding 22.7 pts to combined ratio.
- Net investment losses of $2.9M in Q3 due to unfavorable equity markets.
- Repurchased 62,175 shares for $0.9M at avg price $15.11.

## SEC filing metadata
- accession: 0001174947-22-001177
- form_type: 8-K
- ticker: NODK
- cik: 0001681206
- company_name: NI Holdings, Inc.
- filed_at: 2022-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1681206/000117494722001177/0001174947-22-001177-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1681206/000117494722001177/form8k-28909_nodk.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-22-001177
- JSON: https://secwatch.observer/filing/0001174947-22-001177.json
- Plain text: https://secwatch.observer/filing/0001174947-22-001177.txt

## Key facts
- Earnings Releases
  NI Holdings, Inc. reported quarter ended September 30, 2022 results: revenue $89.5 million, net income ($9,985), EPS ($0.47).
  - Period: quarter ended September 30, 2022
  - Revenue: $89.5 million
  - Net income: ($9,985)
  - EPS: ($0.47)
  - Result: reported results
  source text: noted otherwise) · Direct written premiums increased 17.8% to $81.1 million, driven by our Non-Standard Auto and Commercial segments. · Net earned premiums increased 9.0% to $89.5 million. · Combined Ratio of 114.4% versus 110.8%, driven by elevated loss costs as a result of higher inflation, a catastrophe loss event in North Dakota during the current quarter, and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1681206/000117494722001177/0001174947-22-001177-index.htm

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