---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-25-000722"
form_type: "8-K"
ticker: "NODK"
cik: "0001681206"
company_name: "NI Holdings, Inc."
filed_at: "2025-05-09T23:59:59+00:00"
generated_at: "2026-05-22T01:48:37.643887+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# NI Holdings Q1 net income $6.46M, EPS $0.31; premiums down 18.4% on strategic Non-Standard Auto pullback

## Summary
- Direct written premiums $67.7M, down 18.4% YoY due to exiting Nevada and reducing Chicago Non-Standard Auto.
- Combined ratio of 94.4% (vs 93.9% prior year); expense ratio up 0.8 pts to 37.3%.
- Net investment income rose 3.0% to $2.8M on higher average invested assets.
- Basic EPS $0.31 (cont. ops $0.31 vs $0.33 prior); ROAE 10.4% vs 12.1%.
- Positive momentum in core personal lines; Home and Farm benefited from favorable weather and lower large loss frequency.

## SEC filing metadata
- accession: 0001174947-25-000722
- form_type: 8-K
- ticker: NODK
- cik: 0001681206
- company_name: NI Holdings, Inc.
- filed_at: 2025-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1681206/000117494725000722/0001174947-25-000722-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1681206/000117494725000722/form8k-34190_nodk.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-25-000722
- JSON: https://secwatch.observer/filing/0001174947-25-000722.json
- Plain text: https://secwatch.observer/filing/0001174947-25-000722.txt

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