Highest-materiality recent filing
NI Holdings elects two new directors; shareholders ratify auditor and approve executive compensation
Dana J. Kaldor and Callie J. Thomas elected to board; Kaldor on Audit and Nominating committees, Thomas on Audit and Compensation.
NI Holdings Q1 EPS $0.60 vs $0.31; combined ratio improves to 79.7%
Gross premiums written $57.5M, down 15.1% YoY, driven by exit from Non-Standard Auto.
NI Holdings reports Q4 loss $0.15/sh; combined ratio 109.6% on reserve strengthening
Direct written premiums fell 26% to $54.1M in Q4; full year down 15.3% to $289.8M.
Director Duaine C. Espegard will not stand for re-election at NI Holdings 2026 annual meeting
Director Duaine C. Espegard notified the Board he will not stand for re-election at the 2026 annual meeting.
NI Holdings reports Q3 net loss $1.7M ($0.08/sh); direct premiums down 13.7% YoY
Direct written premiums $58.5M, down 13.7% YoY; Non-Standard Auto down 80% due to strategic exit in IL, AZ, SD.
CEO Seth Daggett terminated without cause; enters separation agreement for $2.56M severance
Former CEO Seth Daggett receives $2,559,947 severance plus $72,968 for 24 months of health coverage.
NI Holdings sets CEO Cindy Launer's compensation: $750k salary, STI, equity grants
Annual base salary of $750,000 effective Jan 1, 2026; pro rata for Oct-Dec 2025.
CEO Seth Daggett departs; Cindy Launer appointed President and CEO effective Oct 10, 2025
Seth Daggett stepped down as President and CEO and resigned from the board, effective October 10, 2025.
NI Holdings announces $5M share repurchase authorization, total $6.3M available
Board authorized up to $5M in new repurchases, plus $1.3M remaining from prior plan, for combined $6.3M capacity.
NI Holdings Q2 net loss $12.1M; combined ratio 125.1% on catastrophic storm losses
Direct written premiums fell 7.6% to $109.5M; Non-Standard Auto down 56.4% per strategic pullback.
NI Holdings shareholders elect all 8 director nominees, ratify auditor, approve say-on-pay
All eight director nominees elected; top vote-getter Cindy L. Launer with 18,421,522 votes for.
NI Holdings appoints five senior leaders including CAO, CUO, CCO, Chief Actuary, and CIO
Kevin Elfstrand promoted to SVP & Chief Accounting Officer effective June 1, 2025; base salary $310K plus STI and LTI.
NI Holdings adds Dave L. Stende to Compensation Committee
Dave L. Stende was appointed to the Board effective April 1, 2025.
Direct written premiums $67.7M, down 18.4% YoY due to exiting Nevada and reducing Chicago Non-Standard Auto.
NI Holdings appoints Dave L. Stende to Board, expands to nine directors effective April 1, 2025
Board increased to nine directors and appointed Dave L. Stende as a director effective April 1, 2025.
NI Holdings Q4 net income $9.8M; full-year combined ratio 100.7% from Non-Standard Auto weakness
Q4 net income attributable $9.8M ($0.47 EPS); continuing ops net income fell 48.7% YoY to $9.8M.
NI Holdings appoints Matt Maki as permanent CFO effective March 1, 2025
Matt Maki, previously Interim CFO, appointed full-time CFO effective March 1, 2025; will serve as principal financial and accounting officer.
NI Holdings director Stephen V. Marlow to not seek reelection at 2025 annual meeting
Director Stephen V. Marlow notified the Company on February 25, 2025 of his decision.
NI Holdings terminates SVP Operations Patrick Duncan without cause; receives $860K severance
Patrick W. Duncan's employment as SVP Operations ended Nov. 20, 2024; separation agreement signed Nov. 27.
NI Holdings appoints Seth Daggett as permanent CEO, Matt Maki as Interim CFO
Seth Daggett, former CFO, becomes President and CEO effective Dec 1, 2024; Cindy Launer returns to Board.
NI Holdings reports Q3 net loss of $2.7M; combined ratio worsens to 111%
Net loss from continuing ops of $2.7M vs income of $0.7M; basic loss per share $(0.13).
NI Holdings restates Q2 2024 results due to $3.4M accounting error from Westminster sale
Audit Committee concluded Q2 2024 financial statements should no longer be relied upon.
NI Holdings finalizes separation agreement with former CEO Michael Alexander for $3.8M severance
Former CEO Michael Alexander terminated without cause Aug 13, 2024; separation agreement signed Sept 16, 2024.
NI Holdings discloses interim CEO Cindy Launer compensation: $100k/month salary
Interim CEO Cindy L. Launer receives $100,000 per month base salary beginning September 1, 2024.
NI Holdings CEO Michael J. Alexander departs; Cindy L. Launer named interim CEO
Michael J. Alexander stepped down as President/CEO and board member effective August 13, 2024.
NI Holdings Q2 net loss of $16.2M; combined ratio 113.7%; closed sale of Westminster
Basic loss per share from continuing ops ($0.36) vs ($0.12) YoY; net loss $16.2M vs $8.1M.
NI Holdings completes $10.5M sale of commercial insurer Westminster; records $14.4M loss on sale
Sale of Westminster American Insurance Company closed June 30, 2024 for $10.5 million in cash to Scott Insurance Holdings.
NI Holdings replaces auditor after Mazars merger with FORVIS
Mazars USA LLP resigned as auditor on June 1, 2024, after its partners/employees joined FORVIS, which renamed to Forvis Mazars, LLP.
NI Holdings shareholders elect all 8 directors, ratify auditor, approve say-on-pay at annual meeting
19,708,579 shares represented at May 21, 2024 annual meeting.
NI Holdings Q1 net income $6.4M vs loss; combined ratio improves to 97.2%
Direct written premiums up 13.4% to $102.7M, led by Non-Standard Auto (+23.2%) and Home & Farm (+13.1%).
NI Holdings sells Westminster American Insurance for $10.5M cash to Scott Insurance Holdings
Sale of wholly-owned subsidiary Westminster American Insurance for $10.5M cash to Scott Insurance Holdings.
NI Holdings Q4 net income $6.6M ($0.32 EPS), full-year loss narrows to $0.26/sh
Direct written premiums Q4 up 16.2% to $102.4M; full year up 7.4% to $418.4M.
NI Holdings reports Q3 EPS $0.01 vs loss $0.47; combined ratio improves to 102% from 114.4%
Net income of $231K vs net loss of $9.985M in Q3 2022; diluted EPS $0.01.
NI Holdings Q2 net loss narrows to $0.38/sh; combined ratio 114%
Net loss attributable to NI Holdings of $8.1M vs $45.9M loss in Q2 2022; loss per share $0.38 vs $2.15.
Shareholders approved immediate declassification of the Board (19.4M for, 16.5K against) and elimination of supermajority voting requirements (17.5M for, 1.9M against).
NI Holdings reports Q1 net loss of $4.2M; combined ratio deteriorates to 112.2%
Direct written premiums rose 19.9% to $90.6M, led by Non-Standard Auto (+52%).
NI Holdings assigns new director Prakash Mathew to Nominating and Executive Committees
Prakash Mathew appointed to Board effective February 1, 2023, as reported in prior 8-K.
NI Holdings reports 2022 net loss of $53.1M; combined ratio 119.9%
Full year net loss of $53.1M ($2.49 loss per share) vs. $8.4M income ($0.39 EPS) in 2021.
NI Holdings appoints Prakash Mathew as Class II director, effective Feb 1, 2023
Board of Directors expanded from seven to eight members.
NI Holdings reports Q3 2022 EPS loss of $0.47; combined ratio worsens to 114.4%
Direct written premiums grew 17.8% to $81.1M, driven by Non-Standard Auto and Commercial segments.
NI Holdings reports Q2 net loss of $45.9M driven by $49.1M catastrophe losses
Net loss of $45.9M vs $2.6M loss in Q2 2021; diluted EPS loss of $2.15.
NI Holdings estimates $49M pre-tax catastrophe losses for Q2 2022 from storms in SD/NE
Pre-tax catastrophe losses of ~$49 million net of reinsurance for Q2 2022.
NI Holdings reports 2022 annual meeting vote results; all proposals pass
Elected directors Aasmundstad (16.4M for), Launer (17.0M for), Marlow (16.6M for) with 835K broker non-votes each.
NI Holdings announces $10M share repurchase authorization, total $12M available
Board authorized up to $10M in share repurchases; combined with $2M remaining from prior plan, total ~$12M available.
NI Holdings Q1 net income drops 80% to $1.9M ($0.09/sh) on investment losses
Net income of $1.9M ($0.09/sh) vs $9.7M ($0.45/sh) prior-year, down 80.3%.
NI Holdings enters employment agreement with CFO Seth Daggett; base salary $285,000
CFO Seth Daggett's new agreement includes $285,000 base salary and participation in equity incentive and short-term performance plans.
NI Holdings Q4 net income falls 72% to $6.1M; full-year combined ratio above 100%
Q4 net income $6.1M ($0.29 EPS) vs $21.6M ($1.01 EPS) prior year; full-year $8.4M ($0.39 EPS) vs $40.4M ($1.86 EPS).
NI Holdings Q3 net loss $4.7M (-$0.22/sh) vs net income $3.7M a year ago; combined ratio 110.9%
Net loss attributable of $4.7M (-$0.22/sh) vs net income $3.7M ($0.17/sh) in prior-year Q3.
NI Holdings announces $5M share repurchase authorization
Board authorized repurchase of up to $5M of common stock, in addition to existing authorization.
NI Holdings Q2 net loss of $2.6M vs profit $18.7M a year ago; combined ratio worsens
Net loss of $2.644M (-$0.12 per share) vs net income of $18.733M ($0.86) in Q2 2020.
On February 18, 2026, the Board of Directors (the “Board”) of NI Holdings, Inc. (the “Company”), increased the size of the Board to eight directors and nominated Dana J. Kaldor and Callie J. Thomas to serve as directors subject to stockholder approval at the Company’s 2026 Annual Meeting of Shareholders held on May 19, 2026
On February 18, 2026, the Board of Directors (the “Board”) of NI Holdings, Inc. (the “Company”), increased the size of the Board to eight directors and nominated Dana J. Kaldor and Callie J. Thomas to serve as directors subject to stockholder approval at the Company’s 2026 Annual Meeting of Shareholders held on May 19, 2026
On May 21, 2025, the Board of Directors (the “Board”) of NI Holdings, Inc. (the “Company”) determined to appoint Kevin Elfstrand as the Company’s Chief Accounting Officer, effective June 1, 2025.
the Board of Directors (the “Board”) of NI Holdings, Inc. (the “Company”), increased the size of the Board to nine directors and appointed Dave L. Stende as a director effective April 1, 2025, to serve until the 2025 Annual Meeting of Stockholders, or until his earlier death, disqualification, resignation, or removal.
On February 26, 2025, the Board of Directors (the “Board”) of the Company determined to appoint Mr. Maki as the Company’s full-time Chief Financial Officer, effective March 1, 2025.
On February 25, 2025, Stephen V. Marlow, a member of the Board of Directors of NI Holdings, Inc. (the “Company”), notified the Company that he will not stand for reelection at the Company’s 2025 annual meeting of stockholders.
Ms. Cindy L. Launer, the current Interim Chief Executive Officer of the Company and a member of the Company’s Board of Directors, will step down from her position as Interim Chief Executive Officer effective November 30, 2024.
On November 20, 2024, NI Holdings, Inc. (the “Company”) determined to appoint its current Executive Vice President, Treasurer and Chief Financial Officer, Seth C. Daggett, as the Company’s President and Chief Executive Officer and a member of the Board of Directors, effective December 1, 2024.
On November 20, 2024, the Company determined to appoint Matt Maki, Vice President, Financial Planning and Analysis of the Company, as the Company’s Interim Chief Financial Officer, effective December 1, 2024.
Michael J. Alexander’s employment as President and Chief Executive Officer of NI Holdings, Inc. (the “Company”) was terminated without cause.
On August 13, 2024, Michael J. Alexander, President and Chief Executive Officer of NI Holdings, Inc. (the “Company”) and the Company agreed that Mr. Alexander’s last date of employment as Chief Executive Officer was August 13, 2024.
On August 13, 2024, the Company determined to appoint Cindy L. Launer, a member of the Company’s Board of Directors, as the Company’s Interim Chief Executive Officer, effective August 26, 2024.
Max materiality 0.85 · Median 0.62 · Most common event earnings