NI Holdings, Inc. (NASDAQ: NODK) announced its financial results for the first quarter ended March 31, 2025, highlighting continued underwriting profitability and solid growth across its core personal line segments, particularly in North Dakota.
“We are pleased to start off 2025 with another quarter of underwriting profitability, continuing the positive momentum that began in the fourth quarter of 2024,” said Seth Daggett, President and Chief Executive Officer. “We achieved solid growth across our core personal lines, driven by increased new business and strong retention. This success was bolstered by favorable weather conditions and lower large loss frequency in our Home and Farm segment.”
The company’s growth was primarily fueled by efforts in North Dakota and South Dakota, where it implemented strategic underwriting and distribution actions aimed at fostering organic growth in these markets. However, despite overall positive performance, NI Holdings reported a year-over-year decrease in direct written premiums, which was attributed to accelerated actions in the Non-Standard Auto segment aimed at restoring profitability.
Daggett expressed confidence in the company’s strategic direction, noting that the results demonstrate the strength of NI Holdings’ core business and competitive advantages in its markets. “We are confident that our renewed focus on these key areas will support our primary objective of creating lasting value for our shareholders through sustained growth and profitability,” he added.
NI Holdings, Inc., headquartered in Fargo, North Dakota, is an insurance holding company primarily through its wholly-owned subsidiary, Nodak Insurance Company. The company underwent a conversion from a mutual to stock organization in March 2017, which marked the beginning of its operations as a stockholding company.
The company’s portfolio includes subsidiaries such as American West Insurance Company, Primero Insurance Company, Battle Creek Insurance Company, and Direct Auto Insurance Company, among others.
