From GlobeNewswire:

NI Holdings, Inc. (NASDAQ: NODK) reported 2023 results with direct written premiums of $418.4 million, up 7.4% from 2022. Net earned premiums were $351.1 million, a 7.0% increase. The combined ratio improved to 103.4% from 119.9% in 2022. Earnings per share were $0.32 for the quarter and a loss per share of $0.26 for the year.

The improved results were driven by underwriting actions and rate increases in Private Passenger Auto and Home and Farm segments. A combined ratio of 85.9% in the fourth quarter showed a return to underwriting profitability. The company repurchased shares and saw a net investment income of $10.5 million for the year.

NI Holdings, Inc. is an insurance holding company with Nodak Insurance Company as its stock holding subsidiary. The Company’s 10-K report and financial supplement are available on its website. Forward-looking statements in the report address factors affecting financial performance, including business prospects, operating strategies, and regulatory requirements.

For a detailed discussion of risk factors affecting actual results, refer to the SEC reports, including the Annual Report on Form 10-K. Investors can contact the Executive Vice President, Treasurer, and CFO at 701-298-4348 for more information.



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