NI Holdings, Inc.
For the period ended Jun 30, 2025. Filed Aug 8, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 8, 2025
NODK$15.33-0.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-03-31; filed 2025-05-09.
0001174947-25-000721
Item 2. - Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-06-30; filed 2025-08-08.
0001174947-25-001142
Item 2. - Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 66 previous paragraphs and 70 current paragraphs.
25 unchanged; 30 reworded; 15 added; 11 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 14 previous and 24 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (15)
Current report
Our consolidated net loss from continuing operations was $12,051 for the three months ended June 30, 2025, compared to net loss from continuing operations of $7,478 for the three months ended June 30, 2024. Our consolidated net loss from continuing operations was $5,591 for the six months ended June 30, 2025, compared to net loss from continuing operations of $543 for the six months ended June 30, 2024.
Current report
Net premiums earned for the three months ended June 30, 2025, decreased $12,164, or 14.3%, compared to the three months ended June 30, 2024. Net premiums earned for the six months ended June 30, 2025, decreased 14,551, or 9.4%, compared to the six months ended June 30, 2024.
Current report
Private Passenger Auto – The net loss and loss adjustment expense ratio decreased 28.9 percentage points and 10.3 percentage points in the three- and six-month periods ended June 30, 2025, respectively, compared to the same periods in 2024. These decreases in the current year were driven by improved loss severity on physical damage claims.
Current report
Home and Farm – The net loss and loss adjustment expense ratio increased 26.2 percentage points and 2.8 percentage points in the three- and six-month periods ended June 30, 2025, respectively, compared to the same periods in 2024. These increases in net loss and loss adjustment expense ratios were driven by losses from a significant catastrophe event in North Dakota during the second quarter of 2025 that exceeded the Company’s $20,000 retention as well as the related ceded premiums earned. Although the results for the six-month period ended June 30, 2024, were impacted by elevated non-catastrophe weather losses in North Dakota and Nebraska, there were no catastrophes during that period. Catastrophe losses, net of reinsurance, for the Home and Farm segment accounted for 94.7 and 45.1 percentage points of the net loss and loss adjustment expense ratio for the three- and six-month periods ended June 30, 2025, respectively, and did not have a negative impact for the same periods in 2024.
Current report
Crop – The net loss and loss adjustment expense ratio increased 12.5 percentage points and 16.1 percentage points in the three- and six-month periods ended June 30, 2025, respectively, compared to the same periods in 2024. These increases were driven by less favorable crop growing conditions compared to the prior year.
Current report
We had fee and other income of $316 and $546 for the three and six months ended June 30, 2025, respectively, compared to $695 and $1,099 for the three and six months ended June 30, 2024, respectively. These decreases were driven by strategic reductions in the premiums that generate fee income and write-offs of uncollectable premiums receivable during the second quarter of 2025.
Current report
Net investment income increased $623 for the three months ended June 30, 2025, compared to the three months ended June 30, 2024. Net investment income increased $706 for the six months ended June 30, 2025, compared to the six months ended June 30, 2024. These increases were primarily driven by the higher interest rate environment which resulted in higher reinvestment rates in our fixed income portfolio.
Current report
Income (Loss) before Income Taxes
Current report
For the six months ended June 30, 2025, we had a pre-tax loss of $7,575 compared to pre-tax loss of $237 for the six months ended June 30, 2024. The year-over-year change was largely attributable to the catastrophe losses for Home and Farm in North Dakota and unfavorable prior year loss reserve development for Non-Standard Auto, partially offset by improved loss experience for Private Passenger Auto and higher net investment income.
Current report
Income Tax Expense (Benefit)
Current report
We recorded an income tax benefit of $3,273 for the three months ended June 30, 2025, compared to an income tax benefit of $1,592 for the three months ended June 30, 2024. Our effective tax rate for the second quarter of 2025 was 21.4% compared to an effective tax rate of 17.6% for the second quarter of 2024.
Current report
Net Income (Loss)
Current report
For the three months ended June 30, 2025, we had a net loss of $12,051 compared to net loss of $7,478 for the three months ended June 30, 2024. The year-over-year change was largely attributable to the catastrophe losses for Home and Farm in North Dakota and unfavorable prior year loss reserve development for Non-Standard Auto, partially offset by improved loss experience for Private Passenger Auto and higher net investment income.
Current report
For the six months ended June 30, 2025, we had a net loss of $5,591 compared to net loss of $543 for the six months ended June 30, 2024. The year-over-year change was largely attributable to the catastrophe losses for Home and Farm in North Dakota and unfavorable prior year loss reserve development for Non-Standard Auto, partially offset by improved loss experience for Private Passenger Auto and higher net investment income.
Current report
For the six months ended June 30, 2025, we had annualized return on average equity of (4.6)% compared to (0.5)% for the six months ended June 30, 2024.
Removed paragraphs (11)
Previous report
Our consolidated net income from continuing operations was $6,460 and $6,935 for the three months ended March 31, 2025 and 2024, respectively.
Previous report
Net premiums earned for the three months ended March 31, 2025, decreased $2,387, or 3.4%, compared to the three months ended March 31, 2024.
Previous report
Private Passenger Auto – The net loss and loss adjustment expense ratio increased 8.5 percentage points in the three-month period ended March 31, 2025, compared to the same period in 2024. This increase was driven by unfavorable prior year development on loss reserves in the current year quarter due to higher severity.
Previous report
Home and Farm – The net loss and loss adjustment expense ratio decreased 15.6 percentage points in the three-month period ended March 31, 2025, compared to the same period in 2024. This decrease was driven by earned premium growth as well as lower frequency of large farm losses in the current quarter compared to the first quarter of 2024.
Previous report
Crop – The net losses and loss adjustment expenses during the first quarter of any year are typically the result of the current year settlement of prior crop year claims. The majority of crop insurance losses and loss adjustment expenses are generally incurred in the last three quarters of the calendar year.
Previous report
We had fee and other income of $230 for the three months ended March 31, 2025, compared to $404 for the three months ended March 31, 2024. Fee income is largely attributable to the Non-Standard Auto segment and is a key component in measuring its profitability. Fee and other income on this business decreased to $221 for the three months ended March 31, 2025, from $350 for the three months ended March 31, 2024, driven by the strategic reduction in written premium within this segment.
Previous report
Net investment income increased $83 for the three months ended March 31, 2025, compared to the three months ended March 31, 2024. This increase was primarily driven by earning relatively consistent yields on a higher average invested assets, partially offset by higher investment expenses.
Previous report
Income before Income Taxes
Previous report
Income Tax Expense
Previous report
Net Income
Previous report
For the three months ended March 31, 2025, we had net income of $6,460 compared to net income of $6,935 for the three months ended March 31, 2024. This change was attributable to the higher underwriting loss in the Non-Standard Auto segment, and less favorable market conditions for equity investments, partially offset by earned premium growth in our other segments, higher net investment income, and lower frequency of large loss experience in the Home and Farm segment, and reductions in income tax expense.
Reworded paragraphs (30)
Previous wording
The following discussion is intended to provide a more comprehensive review of our operating results and financial condition than can be obtained from reading the unaudited consolidated financial statements alone. Unless otherwise noted, the information in the following discussion is being presented for our continuing operations. This discussion should be read in conjunction with the unaudited consolidated financial statements and the notes thereto included in Part I, Item 1, “Financial Statements.” Some of the information contained in this discussion and analysis or set forth elsewhere in this Form 10-Q constitutes forward-looking statements that involve risks and uncertainties. Please see “Forward-Looking Statements” included elsewhere in this Form 10-Q. Part I, Item 1A, “Risk Factors” included in our 2024 Annual Report should also be reviewed for a discussion of important factors that could cause actual results to differ materially from the results described, or implied by, the forward-looking statements contained herein.
Current wording
The following discussion is intended to provide a more comprehensive review of our operating results and financial condition than can be obtained from reading the unaudited consolidated financial statements alone. Unless otherwise noted, the information in the following discussion is being presented for our continuing operations. This discussion should be read in conjunction with the unaudited consolidated financial statements and the notes thereto included in Part I, Item 1, “Financial Statements.” Some of the information contained in this discussion and analysis or set forth elsewhere in this Form 10-Q constitutes forward-looking statements that involve risks and uncertainties. Please see “Forward-Looking Statements” included elsewhere in this Form 10-Q. Part I, Item 1A, “Risk Factors” included in our 2024 Annual Report and Part II, Item 1A “Risk Factors” included in this Form 10-Q, should also be reviewed for a discussion of important factors that could cause actual results to differ materially from the results described, or implied by, the forward-looking statements contained herein.
Previous wording
2025 First Quarter Consolidated Results of Operations
Current wording
2025 Second Quarter Consolidated Results of Operations
Previous wording
2025 First Quarter Consolidated Financial Condition
Current wording
2025 Second Quarter Consolidated Financial Condition
Previous wording
The major components of our revenues and net income for the two periods are shown below:
Current wording
The major components of our revenues and net loss are shown below:
Previous wording
Private Passenger Auto – Net premiums earned for the three months ended March 31, 2025, increased $556, or 2.5%, compared to the same period in 2024. Results were driven by new business growth in North Dakota as well as significant rate increases in South Dakota, and Nebraska, partially offset by lower new business and retention levels in South Dakota and Nebraska as a result of underwriting actions taken.
Current wording
Private Passenger Auto – Net premiums earned for the second quarter of 2025 increased $452, or 2.0%, compared to the same period in 2024. Net premiums earned for the first six months of 2025 increased $1,008, or 2.3% from the first six months of 2024. Results were driven by new business growth in North Dakota as well as significant rate increases in South Dakota and Nebraska, partially offset by lower new business and retention levels in South Dakota and Nebraska as a result of underwriting actions taken.
Previous wording
Non-Standard Auto – Net premiums earned for the three months ended March 31, 2025, decreased $6,736, or 27.0%, compared to the same period in 2024. This decrease was driven by strategic decisions to exit Nevada and significantly reduce written premium in the Chicago market in recent periods to improve profitability. We anticipate that this strategic shift away from Nevada and Chicago will result in a continued reduction of net premiums earned for Non-Standard Auto in the near term.
Current wording
Non-Standard Auto – Net premiums earned for the second quarter of 2025 decreased $12,238, or 45.8%, compared to the same period in 2024. Net premiums earned for the first six months of 2025 decreased $18,973, or 36.7% from the first six months of 2024. These decreases were driven by strategic decisions to exit Nevada and significantly reduce written premium in the Chicago market in recent periods to improve profitability. We anticipate further continued reductions in net earned premiums as a result of these decisions.
Previous wording
Home and Farm – Net premiums earned for the three months ended March 31, 2025, increased $2,307, or 10.8%, compared to the same period in 2024. Results were driven by new business growth in North Dakota, rate increases, and increased insured property values. These increases were partially offset by lower retention rates and new business levels in Nebraska as a result of underwriting actions taken to improve profitability.
Current wording
Home and Farm – Net premiums earned for the second quarter of 2025 decreased $613, or 2.8%, compared to the same period in 2024. Net premiums earned for the first six months of 2025 increased $1,692, or 3.9% from the first six months of 2024. Results were driven by new business growth in North Dakota, rate increases, and increased insured property values, partially offset by lower retention rates and new business levels in Nebraska as a result of underwriting actions taken to improve profitability. In addition, net premiums earned for the second quarter of 2025 were impacted by the recognition of higher ceded premiums earned as a result of a significant catastrophe event in North Dakota during the second quarter of 2025.
Previous wording
Crop – Net premiums earned for the first quarter of any year are typically the result of prior crop year premium adjustments that correspond to the current year settlement of prior crop year claims. The majority of crop insurance premiums are generally written in the second quarter and earned ratably over the remainder of the calendar year.
Current wording
Crop**–** Net premiums earned for the second quarter of 2025, decreased $267, or 2.4%, compared to the same period in 2024. Net premiums earned for the first six months of 2025 increased $906, or 9.6% from the first six months of 2024. The decrease in the second quarter of 2025 was driven by lower commodity prices compared to the prior year. Net premiums earned for the first quarter of any year are typically the result of prior crop year premium adjustments that correspond to the current year settlement of prior crop year claims. The year-to-date increase was driven by the recognition of more favorable premium adjustments in the first quarter of 2025 compared to the first quarter of 2024.
Previous wording
All Other – Net premiums earned for the three months ended March 31, 2025, increased $313, or 10.7%, compared to the same period in 2024 primarily driven by rate increases for the North Dakota commercial lines of business.
Current wording
All Other – Net premiums earned for the second quarter of 2025, increased $502, or 16.4%, compared to the same period in 2024. Net premiums earned for the first six months of 2025 increased $816, or 13.6%, from the first six months of 2024. Results were driven by rate increases for the North Dakota commercial lines of business.
Previous wording
Our net losses and loss adjustment expenses for the three months ended March 31, 2025, decreased $1,619, or 4.0%, compared to the three months ended March 31, 2024.
Current wording
Our net losses and loss adjustment expenses for the three months ended June 30, 2025, decreased $2,751, or 4.0%, compared to the three months ended June 30, 2024. Our net losses and loss adjustment expenses for the six months ended June 30, 2025, decreased $4,370, or 4.0%, compared to the six months ended June 30, 2024.
Previous wording
Non-Standard Auto – The net loss and loss adjustment expense ratio increased 12.1 percentage points in the three-month period ended March 31, 2025, compared to the same period in 2024. This increase was primarily driven by significant strategic reductions in net earned premium and unfavorable prior year development on liability loss reserves in the current year quarter.
Current wording
Non-Standard Auto – The net loss and loss adjustment expense ratio increased 44.0 percentage points and 25.9 percentage points in the three- and six-month periods ended June 30, 2025, respectively, compared to the same period in 2024. These increases were driven by higher unfavorable prior year development on liability loss reserves in the current year periods compared to the same periods in 2024.
Previous wording
All Other – The net loss and loss adjustment expense ratio decreased 9.3 percentage points in the three-month period ended March 31, 2025, compared to the same period in 2024. This decrease was driven by favorable loss development related to the continued run-off of our participation in an assumed domestic and international reinsurance pool of business.
Current wording
All Other – The net loss and loss adjustment expense ratio decreased 9.5 percentage points and 9.6 percentage points in the three- and six-month period ended June 30, 2025, compared to the same period in 2024. These decreases were driven by favorable loss development related to the continued run-off of our participation in an assumed domestic and international reinsurance pool of business.
Previous wording
The expense ratio is calculated by dividing other underwriting and general expenses and amortization of deferred policy acquisition costs by net premiums earned. The expense ratio measures a company’s operational efficiency in producing, underwriting, and administering its insurance business. The overall expense ratio increased 0.8 percentage points in the three-month period ended March 31, 2025, compared to the same period in 2024. The increase was driven by generally consistent expenses compared to lower net premiums earned in the current quarter as a result of the strategic reduction of written premium in our Non-Standard Auto segment.
Current wording
The expense ratio is calculated by dividing other underwriting and general expenses and amortization of deferred policy acquisition costs by net premiums earned. The expense ratio measures a company’s operational efficiency in producing, underwriting, and administering its insurance business. The overall expense ratio increased 1.6 percentage points and 1.3 percentage points in the three-and six-month periods ended June 30, 2025, respectively, compared to the same periods in 2024. The decrease in the amortization of deferred policy acquisition costs is due to lower deferrable costs resulting from the strategic reduction in premium for the Non-Standard Auto segment, which generally pays higher agent commissions than our other segments. Other underwriting and general expenses are generally consistent year-over-year.
Previous wording
The total underwriting gain decreased $406 to a gain of $3,812 for the three-month period ended March 31, 2025, from a gain of $4,218 for the three-month period ended March 31, 2024. These results were driven by the factors discussed in the Loss and Loss Adjustment Expenses the Underwriting and General Expenses and Expense Ratio sections above.
Current wording
The total underwriting loss increased $6,668 for the three-month period ended June 30, 2025, compared to the same period in 2024. The total underwriting loss increased $7,074 for the six-month period ended June 30, 2025, compared to the same period in 2024. These results were driven by the factors discussed in the Loss and Loss Adjustment Expenses as well as the Underwriting and General Expenses and Expense Ratio sections above.
Previous wording
The overall combined ratio increased 0.5 percentage points in the three-month period ended March 31, 2025, compared to the same period in 2024. These results were driven by the factors discussed in the Loss and Loss Adjustment Expenses and the Underwriting and General Expenses and Expense Ratio sections above.
Current wording
The overall combined ratio increased 11.4 percentage points in the three-month period ended June 30, 2025, compared to the same period in 2024. The overall combined ratio increased 5.5 percentage points in the six-month period ended June 30, 2025, compared to the same period in 2024. These results were driven by the factors discussed in the Loss and Loss Adjustment Expenses as well as the Underwriting and General Expenses and Expense Ratio sections above.
Previous wording
The following table shows our average cash and invested assets, net investment income, and return on average cash and invested assets for the reported periods:
Current wording
The following table shows our average cash and invested assets, net investment income, and return on average cash and invested assets for the reported periods for continuing operations:
Previous wording
Gross and net return on average cash and invested assets decreased year-over-year, primarily driven by lower returns on high dividend yield equities as well as cash and other short-term investments, partially offset by higher returns on the average fixed income securities balance (measured at fair value). The increase in average cash and invested assets was driven by increases in cash and investments from the generation of positive operating cash flows during 2024 and the first quarter of 2025.
Current wording
Gross and net return on average cash and invested assets increased year-over-year, primarily driven by the favorable interest rate environment that resulted in higher net investment income on an increased average fixed income securities balance (measured at fair value), partially offset by lower interest rates in the current year periods for cash and cash equivalents. The increase in average cash and invested assets was driven by changes in the fair value of fixed income securities due to the interest rate environment as well as positive operating cash flows during the first six months of 2025.
Previous wording
We had net realized gains of $326 for the three months ended March 31, 2025, compared to net realized losses of $91 for the three months ended March 31, 2024, which were the result of routine portfolio management decisions. No credit impairment losses were reported during any of the periods presented.
Current wording
We had net realized gains of $107 and $433 for the three and six months ended June 30, 2025, respectively, compared to net realized gains of $9 and losses of $82 for the three and six months ended June 30, 2024, respectively. The elevated net realized gains in the six months ended June 30, 2025, were driven by sales of equity securities that were executed as part of the strategic management of our investment portfolio. No credit impairment losses were reported during any of the periods presented.
Previous wording
We experienced an increase in net unrealized gains on equity securities of $543 and $1,547 during the three months ended March 31, 2025 and 2024, respectively, driven by the impact of changes in fair value attributable to favorable equity markets during these periods.
Current wording
We experienced a decrease of $517 and an increase of $26 in net unrealized gains on equity securities during the three and six months ended June 30, 2025, respectively. We experienced a decrease in net unrealized gains on equity securities of $589 and an increase of $958 during the three and six months ended June 30, 2024, respectively. These results were driven by the impact of changes in fair value attributable to overall favorable or unfavorable equity markets during those periods.
Previous wording
Our fixed income securities are classified as available for sale because we will, from time to time, execute sales of securities that are not impaired, consistent with our investment goals and policies. The fixed income portion of the portfolio experienced net unrealized gains of $3,313 during the three months ended March 31, 2025, compared to net unrealized losses of $1,531 during the three months ended March 31, 2024. The change was primarily the result of changes in U.S. interest rates. The change in the fair value of fixed income securities is not reflected in net income; rather it is reflected as a separate component (net of income taxes) of other comprehensive income.
Current wording
Our fixed income securities are classified as available for sale because we will, from time to time, execute sales of securities that are not impaired, consistent with our investment goals and policies. The fixed income portion of the portfolio experienced net unrealized gains of $1,469 and $4,782 during the three and six months ended June 30, 2025, respectively, compared to net unrealized losses of $923 and $2,730 during the three and six months ended June 30, 2024, respectively. The changes were primarily the result of changes in U.S. interest rates. The change in the fair value of fixed income securities is not reflected in net income; rather it is reflected as a separate component (net of income taxes) of other comprehensive income.
Previous wording
For the three months ended March 31, 2025, we had pre-tax income of $7,749 compared to a pre-tax income of $8,833 for the three months ended March 31, 2024. This change was attributable to the higher underwriting loss in the Non-Standard Auto segment, and less favorable market conditions for equity investments, partially offset by earned premium growth in our other segments, higher net investment income, and lower frequency of large loss experience in the Home and Farm segment.
Current wording
For the three months ended June 30, 2025, we had a pre-tax loss of $15,324 compared to a pre-tax loss of $9,070 for the three months ended June 30, 2024. The year-over-year change was largely attributable to the catastrophe losses for Home and Farm in North Dakota and unfavorable prior year loss reserve development for Non-Standard Auto, partially offset by improved loss experience for Private Passenger Auto and higher net investment income.
Previous wording
We recorded income tax expense of $1,289 for the three months ended March 31, 2025, compared to income tax expense of $1,898 for the three months ended March 31, 2024. Our effective tax rate for the first quarter of 2025 was 16.6% compared to an effective tax rate of 21.5% for the first quarter of 2024. The current quarter effective tax rate was impacted by a change in our valuation allowance against deferred income tax assets.
Current wording
We recorded an income tax benefit of $1,984 for the six months ended June 30, 2025, compared to income tax expense of $306 for the six months ended June 30, 2024. Our effective tax rate for the first six months of 2025 was 26.2% compared to an effective tax rate of (129.1)% for the first six months of 2024. The effective tax rate for the first six months of 2025 and 2024 were impacted by changes in our valuation allowances against deferred income tax assets.
Previous wording
For the three months ended March 31, 2025, we had annualized return on average equity of 10.4% compared to 12.1% for the three months ended March 31, 2024.
Current wording
For the three months ended June 30, 2025, we had annualized return on average equity of (19.4)% compared to (12.8)% for the three months ended June 30, 2024.
Previous wording
We also have a $3,000 line of credit with Wells Fargo Bank, N.A. The terms of the line of credit include a floating interest rate of 2.50% above the daily simple secured overnight financing rate. There were no outstanding amounts during the three months ended March 31, 2025, or the year ended December 31, 2024. This line of credit is scheduled to expire on December 13, 2025.
Current wording
We also have a $3,000 line of credit with Wells Fargo Bank, N.A. The terms of the line of credit include a floating interest rate of 2.50% above the daily simple secured overnight financing rate. There were no outstanding amounts during the six months ended June 30, 2025, or the year ended December 31, 2024. This line of credit is scheduled to expire on December 13, 2025.
Previous wording
The change in cash and cash equivalents for continuing and discontinued operations for the three months ended March 31, 2025 and 2024, were as follows:
Current wording
The change in cash and cash equivalents for continuing and discontinued operations for the six months ended June 30, 2025 and 2024, were as follows:
Previous wording
For the three months ended March 31, 2025, net cash provided by operating activities totaled $9,888 compared to $16,663 in the prior year quarter. This change was primarily driven by lower levels of cash received for premiums in the current year quarter and positive cash flows from discontinued operations in the prior year quarter, partially offset by lower levels of loss and loss adjustment expense payments in the current year quarter.
Current wording
For the six months ended June 30, 2025, net cash provided by operating activities totaled $16,289 compared to $34,760 a year ago. This change was primarily driven by lower levels of premium collections in the current year, partially offset by lower levels of loss and loss adjustment payments in the current year.
Previous wording
For the three months ended March 31, 2025, net cash used by investing activities totaled $3,459 compared to $4,143 in the prior year quarter. The relatively consistent cash outflows in the current year quarter compared to the prior year quarter were attributable to the investment of excess cash from operations.
Current wording
For the six months ended June 30, 2025, net cash used by investing activities totaled $10,246 compared to $3,776 a year ago. This change was primarily attributable to the proceeds from the sale of Westminster and Westminster’s net cash provided by investing activities in the prior year, partially offset by a decrease in net cash outflows for investment activities in the current year.
Previous wording
For the three months ended March 31, 2025, net cash used by financing activities totaled $157 compared to $178 a year ago. This decrease in cash used was attributable to a reduction in the issuance of vested award shares in the current year quarter.
Current wording
For the six months ended June 30, 2025, net cash used by financing activities totaled $189 compared to $202 a year ago. This decrease in cash used was attributable to a decrease in the issuance of vested award shares partially offset by an increase in principal repayments for finance leases.
Previous wording
The amount available for payment of dividends from Nodak Insurance to NI Holdings during 2025 without the prior approval of the North Dakota Insurance Department is approximately $8,273 as of December 31, 2024. No dividends were declared or paid by Nodak Insurance during the three months ended March 31, 2025, or the year ended December 31, 2024.
Current wording
The amount available for payment of dividends from Nodak Insurance to NI Holdings during 2025 without the prior approval of the North Dakota Insurance Department is approximately $8,273 as of December 31, 2024. No dividends were declared or paid by Nodak Insurance during the six months ended June 30, 2025, or the year ended December 31, 2024.
Previous wording
The amount available for payment of dividends from Direct Auto to NI Holdings during 2025 without the prior approval of the North Dakota Insurance Department is approximately $3,146 as of December 31, 2024. No dividends were declared or paid by Direct Auto during the three months ended March 31, 2025, or the year ended December 31, 2024.
Current wording
The amount available for payment of dividends from Direct Auto to NI Holdings during 2025 without the prior approval of the North Dakota Insurance Department is approximately $3,146 as of December 31, 2024. No dividends were declared or paid by Direct Auto during the six months ended June 30, 2025, or the year ended December 31, 2024.