---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-25-000306"
form_type: "8-K"
ticker: "NODK"
cik: "0001681206"
company_name: "NI Holdings, Inc."
filed_at: "2025-03-07T23:59:59+00:00"
generated_at: "2026-05-25T03:50:42.461612+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# NI Holdings Q4 net income $9.8M; full-year combined ratio 100.7% from Non-Standard Auto weakness

## Summary
- Q4 net income attributable $9.8M ($0.47 EPS); continuing ops net income fell 48.7% YoY to $9.8M.
- Full-year combined ratio 100.7% vs 97.0%, driven by Non-Standard Auto reserve development and Home and Farm loss severity.
- Net investment income increased 36.2% to $10.9M on higher fixed income reinvestment rates.
- Direct written premiums Q4 down 7.9% to $73.1M; full year up 0.3% to $342.3M.
- Management executing aggressive strategic actions in Non-Standard Auto to reduce earnings volatility.

## SEC filing metadata
- accession: 0001174947-25-000306
- form_type: 8-K
- ticker: NODK
- cik: 0001681206
- company_name: NI Holdings, Inc.
- filed_at: 2025-03-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1681206/000117494725000306/0001174947-25-000306-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1681206/000117494725000306/form8k-33628_nodk.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-25-000306
- JSON: https://secwatch.observer/filing/0001174947-25-000306.json
- Plain text: https://secwatch.observer/filing/0001174947-25-000306.txt

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