NI Holdings, Inc. Reports Results for Third Quarter Ended September 30, 2026
Key Highlights
- ➤Combined ratio 93.6%, improving 15.5 points year over year
- ➤Basic EPS $0.27, versus $(0.08) loss per share
- ➤Net income $5.528 million, versus $1.666 million loss
- ➤Gross premiums written $54.346 million, down 7.2% year over year
- ➤Non-Standard Auto exit continued reducing premiums while runoff progressed
Expert Statements
Cindy Launer, President and Chief Executive Officer of NI Holdings
“We delivered significantly improved underwriting results in the third quarter, reflecting continued progress on our strategic priorities.”
Cindy Launer, President and Chief Executive Officer of NI Holdings
“We are seeing strong performance in Home and Farm in North Dakota and continued progress in the runoff of Non-Standard Auto.”
Cindy Launer, President and Chief Executive Officer of NI Holdings
“Despite challenges in Crop and Private Passenger Auto, we are encouraged by our momentum and believe we are well positioned to deliver more consistent, profitable performance and long-term shareholder value.”
FARGO, N.D., Nov. 06, 2026 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) announced today results for the quarter ended September 30, 2026.
Summary of Third Quarter 2026 Results (All comparisons vs. the third quarter of 2025, unless noted otherwise) * Gross premiums written of $54,346 compared to $58,586 in the prior year quarter. This decrease was driven by Non-Standard Auto (-100.2%) due to the continued impact of the Company’s strategic decision to exit the segment. Also impacting the decrease was a decline in Private Passenger Auto (-8.4%) due to lower new business and renewal premiums in South Dakota and Nebraska and the impact of rate decreases in North Dakota, South Dakota and Nebraska. These declines were partially offset by All Other (+50.6%) due to continued increased assumed premiums from participation on catastrophe reinsurance programs of certain farm bureau insurance companies and Home and Farm (+1.9%) due to strong renewal premiums, rate increases and increased new business in North Dakota. * Combined ratio of 93.6% versus 109.1% in the prior year quarter. The improvement was primarily driven by favorable prior year development on loss reserves in Non-Standard Auto during the current year quarter compared to unfavorable prior year development in the prior year quarter as well as favorable development on loss reserves for current year storms and lower weather-related losses within the Home and Farm segment. These improvements were slightly offset by higher losses in Crop due to drought conditions in North Dakota as well as increased large loss activity and adverse prior year development on loss reserves in Private Passenger Auto. * Net investment income of $2.7 million, down 10.7% from the prior year quarter, primarily due to a lower average fixed income portfolio balance as proceeds from maturities and sales were used to fund operating cash needs in the Non-Standard Auto segment. * Basic earnings per share of $0.27, compared to basic loss per share of $(0.08) in the prior year quarter, reflecting improved profitability for the quarter.
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