---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-24-000694"
form_type: "8-K"
ticker: "NODK"
cik: "0001681206"
company_name: "NI Holdings, Inc."
filed_at: "2024-05-08T23:59:59+00:00"
generated_at: "2026-06-02T11:04:52.986256+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# NI Holdings sells Westminster American Insurance for $10.5M cash to Scott Insurance Holdings

## Summary
- Sale of wholly-owned subsidiary Westminster American Insurance for $10.5M cash to Scott Insurance Holdings.
- Buyer affiliated with John Scott Sr., father of subsidiary president John Scott Jr.
- Approved by board; closing expected in 2024 subject to regulatory approval and reinsurance.
- Proceeds for general corporate purposes; sale refocuses on core businesses away from commercial habitational market.

## SEC filing metadata
- accession: 0001174947-24-000694
- form_type: 8-K
- ticker: NODK
- cik: 0001681206
- company_name: NI Holdings, Inc.
- filed_at: 2024-05-08T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1681206/000117494724000694/0001174947-24-000694-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1681206/000117494724000694/form8k-32234_nodk.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-24-000694
- JSON: https://secwatch.observer/filing/0001174947-24-000694.json
- Plain text: https://secwatch.observer/filing/0001174947-24-000694.txt

## Key facts
- Material Agreements
  NI Holdings, Inc. entered into Stock Purchase Agreement with Scott Insurance Holdings, LLC valued at $10.5 million (effective 2024-05-07).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Scott Insurance Holdings, LLC
  - Value: $10.5 million
  - Effective: 2024-05-07
  source text: On May 7, 2024, NI Holdings, Inc., a North Dakota Corporation (“Seller”), entered into a Stock Purchase Agreement (the “Stock Purchase Agreement”), dated May 7, 2024, between the Seller and Scott Insurance Holdings, LLC, (“Scott Insurance Holdings”) to sell its subsidiary, Westminster American Insurance Company (the “Company”), to Scott Insurance Holdings, a privately owned Maryland limited liability company (“Buyer”), for a cash purchase price of $10.5 million (the “Sale”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1681206/000117494724000694/0001174947-24-000694-index.htm

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