---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-26-000307"
form_type: "8-K"
ticker: "NODK"
cik: "0001681206"
company_name: "NI Holdings, Inc."
filed_at: "2026-03-06T23:59:59+00:00"
generated_at: "2026-05-15T18:47:51.470777+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NI Holdings reports Q4 loss $0.15/sh; combined ratio 109.6% on reserve strengthening

## Summary
- Direct written premiums fell 26% to $54.1M in Q4; full year down 15.3% to $289.8M.
- Combined ratio 109.6% in Q4 (+29.6 pts), 109.9% FY 2025, on non-standard auto reserve strengthening.
- Net loss of $3.2M in Q4 vs. income $9.8M prior year; full year net loss $10.4M, loss per share $0.50.
- Strategic exit of Non-Standard Auto in IL, AZ, SD; historic ND Q2 catastrophe impacted Home and Farm segment.
- Net investment income up 6.9% to $11.7M for full year; core lines remained solid per management.

## SEC filing metadata
- accession: 0001174947-26-000307
- form_type: 8-K
- ticker: NODK
- cik: 0001681206
- company_name: NI Holdings, Inc.
- filed_at: 2026-03-06T23:59:59+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/1681206/000117494726000307/0001174947-26-000307-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1681206/000117494726000307/form8k-35374_nodk.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-26-000307
- JSON: https://secwatch.observer/filing/0001174947-26-000307.json
- Plain text: https://secwatch.observer/filing/0001174947-26-000307.txt

## Key facts
- Earnings Releases
  NI Holdings, Inc. reported financial results for the quarter and year ended December 31, 2025.
  - Period: the quarter and year ended December 31, 2025
  - Result: reported results
  source text: On March 6, 2026, the Company issued a press release announcing its financial results for the quarter and year ended December 31, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1681206/000117494726000307/0001174947-26-000307-index.htm

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