NI Holdings, Inc. Reports Results for Fourth Quarter and Year Ended December 31, 2023 [Yahoo! Finance]
NI Holdings, Inc. (NODK)
US:NASDAQ Investor Relations:
niholdingsinc.com
Company Research
Source: Yahoo! Finance
Summary of Year-End 2023 Results (All comparisons vs. year-end 2022, unless noted otherwise) Direct written premiums of $102.4 million, up 16.2% compared to the prior year quarter and full year direct written premiums of $418.4 million, up 7.4% compared to prior year. Growth in both periods was driven by Non-Standard Auto and Private Passenger Auto. Net earned premiums of $88.6 million, up 4.6% compared to prior year quarter and full year net earned premiums of $351.1 million, up 7.0% compared to prior year. Combined ratio of 85.9%, down 23.5 pts compared to the prior year quarter, driven by improved underwriting results across all segments. Combined ratio of 103.4% for full year 2023 versus 119.9% for the prior year, driven by lower catastrophe losses in Home and Farm and lower loss frequency in Private Passenger Auto, partially offset by reserve strengthening in the Non-Standard Auto and Commercial segments to address elevated loss costs due to the inflationary environment.
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- NODK's page on the SEC website