NI Holdings reports 2022 net loss of $53.1M; combined ratio 119.9%

NI Holdings, Inc.

Full year net loss of $53.1M ($2.49 loss per share) vs. $8.4M income ($0.39 EPS) in 2021.
Combined ratio of 119.9% for 2022, up from 104.3% in 2021, driven by elevated loss costs and $68.5M in catastrophe losses.
Direct written premiums grew 13.9% to $389.7M; Non-Standard Auto led with 26.8% increase.
Q4 net income of $0.9M ($0.04 EPS) compared to $6.1M ($0.29 EPS) a year ago; Q4 combined ratio 109.4% vs 98.6%.
Management cites improved trends in Personal Auto and Home/Farm segments from rate and underwriting actions.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.8

NI Holdings, Inc. reported financial results for quarter and year ended December 31, 2022.

Period: quarter and year ended December 31, 2022
Result: reported results

Exact text from the filing

On March 8, 2023, the Company issued a press release announcing its financial results for the quarter and year ended December 31, 2022.

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NI Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001174947-23-000314

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