| NI Holdings, Inc. Reports Results for First Quarter Ended March 31, 2025 |
FARGO, N.D., May 09, 2025 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) announced today results for the quarter ended March 31, 2025. |
globenewswire.com |
2025-05-09 20:15:00 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Announces Leadership Transition |
FARGO, N.D., Nov. 22, 2024 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (the “Company”, NASDAQ: NODK) announced today the appointment of Seth C. Daggett as President and Chief Executive Officer (CEO), effective December 1, 2024. Mr. Daggett brings over two decades of industry experience, most recently serving as the Company's Chief Financial Officer (CFO) and Treasurer. Mr. Daggett succeeds Cindy L. Launer, who had been serving as Interim CEO during the Board of Directors' (the “Board”) search for a permanent CEO, as previously announced. |
globenewswire.com |
2024-11-22 18:15:00 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Reports Results for Third Quarter Ended September 30, 2024 |
FARGO, N.D., Nov. 07, 2024 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) announced today results for the quarter ended September 30, 2024. |
globenewswire.com |
2024-11-07 18:15:00 |
Czytaj oryginał (ang.) |
| A Deal For NI Holdings Where Everyone Wins |
American Family Insurance is selling its non-standard auto insurance business to Sentry Insurance, signaling the potential for more mutual insurance deals. NI Holdings, Inc. is undervalued, trading at 75% of FCTBV, and has failed to justify its public existence with poor financial performance. The company should remutualize, potentially selling to a mutual insurance company for around $27.50 per share, benefiting all stakeholders. |
seekingalpha.com |
2024-10-28 12:00:00 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Announces Leadership Change |
FARGO, N.D., Aug. 15, 2024 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) today announced that Michael J. Alexander has stepped down from his role as President and Chief Executive Officer of NI Holdings, along with his role as a board member of the company, effective August 13, 2024. To ensure seamless stewardship of the company until a permanent successor is named, the Board has appointed Cindy L. Launer as Interim Chief Executive Officer, effective August 13, 2024. |
globenewswire.com |
2024-08-15 20:30:00 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Reports Results for Second Quarter Ended June 30, 2024 |
FARGO, N.D., Aug. 08, 2024 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) announced today results for the quarter ended June 30, 2024. |
globenewswire.com |
2024-08-08 20:15:00 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Completes the Sale of Westminster American Insurance Company |
FARGO, N.D., July 05, 2024 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) has completed the previously announced sale of its wholly-owned commercial insurance subsidiary, Westminster American Insurance Company, to a private party. The total consideration for the sale was $10.5 million in cash, subject to certain post-closing adjustments pursuant to the Purchase Agreement dated May 7, 2024. |
globenewswire.com |
2024-07-05 20:15:00 |
Czytaj oryginał (ang.) |
| AM Best Places Credit Ratings of Westminster American Insurance Company Under Review With Negative Implications |
OLDWICK, N.J.--(BUSINESS WIRE)-- #insurance--AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Westminster American Insurance Company (WAIC) (headquartered in Owings Mills, MD). These Credit Ratings (ratings) have been placed under review with negative implications following the recent announcement made by NI Holdings, Inc. [NASDAQ: NODK], its ultimate parent, that a definitive agreement has. |
businesswire.com |
2024-05-10 21:12:00 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Reports Results for First Quarter Ended March 31, 2024 |
FARGO, N.D., May 09, 2024 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) announced today results for the quarter ended March 31, 2024. |
globenewswire.com |
2024-05-09 20:15:00 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Agrees to Sell Westminster American Insurance Company |
FARGO, N.D., May 08, 2024 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) (“NI Holdings”) announced today an agreement to sell its wholly-owned commercial insurance subsidiary, Westminster American Insurance Company, to a private party. The total consideration for the sale is $10.5 million in cash, with proceeds planned to be used for general corporate purposes. The transaction was unanimously approved by the Board of Directors and is expected to close in 2024, subject to regulatory approval and other closing conditions. |
globenewswire.com |
2024-05-08 13:00:00 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Reports Results for Fourth Quarter and Year Ended December 31, 2023 |
FARGO, N.D., March 15, 2024 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) announced today results for the year ended December 31, 2023. |
globenewswire.com |
2024-03-15 18:15:00 |
Czytaj oryginał (ang.) |
| NI Holdings: Interesting Developments - Windfall Gains Opportunity |
NI Holdings had its IPO in March 2017 as the first step in a potential two-step demutualization process for Nodak Mutual Group Inc. Anti-dilution provisions in the prospectus for the IPO will likely result in windfall gains for existing NI Holdings shareholders, whenever a secondary offering takes place. Recent changes to the company's Articles of Incorporation could make full demutualization more readily achievable. |
seekingalpha.com |
2024-01-29 13:56:02 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Reports Results for Third Quarter Ended September 30, 2023 |
FARGO, N.D., Nov. 07, 2023 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) announced today results for the quarter ended September 30, 2023. |
globenewswire.com |
2023-11-07 18:15:00 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Reports Results for Second Quarter Ended June 30, 2023 |
FARGO, N.D., Aug. 08, 2023 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) announced today results for the quarter ended June 30, 2023. |
globenewswire.com |
2023-08-08 21:10:00 |
Czytaj oryginał (ang.) |
| AM Best Revises Issuer Credit Ratings Outlook to Negative for Members of Nodak Insurance Group and NI Holdings, Inc. |
OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) for the members of Nodak Insurance Group (Nodak). The outlook of the FSR is stable. Concurrently, AM Best has revised the outlook to negative from stable and affirmed the Long-Term ICR of “bbb+” (Good) of NI Holdings, Inc. (Fargo, ND) [NASDAQ: NODK], a publicly traded holding company. (See below for a full listing of companies and Credit Ratings [ratings].) The ratings reflect Nodak’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. The revised outlook of the Long-Term ICRs considers the deterioration in Nodak’s operating results over the past two years, primarily resulting from an abnormal level of catastrophe losses in its core states of operation, along with an increased severity of loss due to inflation. In 2022, the group incurred multiple severe weather-related events, all of which were in the vicinity of its catastrophe retention, and in the year prior, results were dampened by significant conditions impacting the crop lines. Consequently, the group’s combined ratio has been above breakeven for two consecutive years and reached a five-year high of 118.5% in 2022. Also in 2022, underwriting losses coupled with unrealized capital losses due to stock market volatility resulted in the group reporting a nearly 20% decline in policyholders’ surplus. Nodak’s management is addressing the volatility through rate, inflation guard adjustments, aggressive re-underwriting of its book of business, non-renewing particular coverages and requiring higher deductibles. The group also continues to perform property inspections and will no longer be accepting certain property risks. AM Best expects that these actions will allow Nodak to improve upon its current level of performance and return back to historical norms. Although given the magnitude of the decline, in the absence of improvement, the ratings are likely to be downgraded. The FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) have been affirmed, with the outlook of the Long-Term ICRs revised to negative from stable, while the outlook of the FSR is stable, for the following members of the Nodak Insurance Group: American West Insurance Company Battle Creek Mutual Insurance Company Direct Auto Insurance Company Nodak Insurance Company Primero Insurance Company Westminster American Insurance Company This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com. Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. |
businesswire.com |
2023-04-25 19:46:00 |
Czytaj oryginał (ang.) |
| AM Best Affirms Credit Ratings of Members of Nodak Insurance Group and NI Holdings, Inc. |
OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of members of Nodak Insurance Group (Nodak). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) of NI Holdings, Inc. (Fargo, ND) [NASDAQ: NODK], a publicly traded holding company. The outlook of these Credit Ratings (ratings) is stable. (See below for a full listing of companies and ratings.) The ratings reflect Nodak’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. Nodak’s balance sheet strength is supported by its strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), favorable net and gross underwriting leverage, consistent reserving trends, and access to capital markets as a part of a publicly traded organization (NI Holdings, Inc.). Each individual member of Nodak’s pool plays a role in the group’s business plan and contributes favorably to its risk-adjusted capitalization. The group’s strong operating performance is driven by five-year average profitability metrics, which outperform the composite, and is further supported by steady investment income. In 2021, Nodak continued to grow surplus and produce positive net income through the year, despite weather-related losses that drove its first underwriting loss in 10 years. The ratings also reflect Nodak’s neutral business profile driven by its market position as a leader in personal lines, farm and crop insurance in North Dakota. The group continues to expand geographically and now operates in 17 states. Nodak’s ERM remains appropriate and in line with the group’s risk profile, with defined risk appetite and tolerances and extensive stress testing to mitigate weather-related losses. The FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) have been affirmed, with stable outlooks for the following members of the Nodak Insurance Group: American West Insurance Company Battle Creek Mutual Insurance Company Direct Auto Insurance Company Nodak Insurance Company Primero Insurance Company Westminster American Insurance Company This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com. Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. |
businesswire.com |
2022-04-14 19:50:00 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Announces $5M Repurchase Plan |
FARGO, N.D., Aug. 16, 2021 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) today announced that its Board of Directors has approved an authorization for the repurchase of up to approximately $5 million of the company's outstanding common stock. This authorization, in addition to a previous authorization currently in place, supports our planned approach to capital deployment to create long-term value for our shareholders – through share repurchases and future strategic acquisitions. |
globenewswire.com |
2021-08-16 15:00:00 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Files Results for Second Quarter and Six Months Ended June 30, 2021 |
FARGO, N.D., Aug. 04, 2021 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) today reported net loss attributable to NI Holdings of $2.644 million (-$0.12 per share) and return on average equity of -3.0% for the quarter ended June 30, 2021, compared to net income of $18.733 million ($0.86 per share) and return on average equity of 24.2% in the prior year quarter. |
globenewswire.com |
2021-08-04 20:05:00 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Files Results for First Quarter Ended March 31, 2021 |
FARGO, N.D., May 05, 2021 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) today reported net income attributable to NI Holdings of $9,669 ($0.45 per share) and return on average equity of 11.2% for the quarter ended March 31, 2021, compared to a loss of $3,587 (-$0.16 per share) and return on average equity of -4.7% in the prior year quarter. |
globenewswire.com |
2021-05-05 20:15:00 |
Czytaj oryginał (ang.) |
| AM Best Affirms Credit Ratings of Members of Nodak Insurance Group and NI Holdings, Inc. |
OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of members of Nodak Insurance Group (Nodak). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+” of NI Holdings, Inc. (Fargo, ND) [NASDAQ: NODK], a publicly traded holding company. The outlook of these Credit Ratings (ratings) is stable. (See below for a full listing of companies and ratings.) The ratings reflect Nodak’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). Nodak’s balance sheet is supported by its strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), net and gross underwriting leverages that compare favorably with the composite averages, a conservative investment portfolio, and access to the capital markets as part of a publicly traded organization (NI Holdings, Inc.). Individual members within Nodak play a specific role in the organization’s overall business plan, with each contributing favorably to the pool’s risk-adjusted capitalization. In addition, each member continues to support the pool’s corporate business strategy. Nodak’s operating performance remains strong, as the group’s strict underwriting standards have continued to result in favorable combined and operating ratios. Consistent positive pre-tax operating gains and net income, primarily driven by underwriting gains, have resulted in surplus growth in each of the past five years. The ratings also consider Nodak’s market position as one of the leading insurers in personal lines, farm and crop insurance in North Dakota coupled with their expanding book of business and geographic diversification. Most recently, NI Holdings, Inc. acquired Westminster American Insurance Company writing east coast, Commercial Multi-Peril business. These ratings also acknowledge the depth and breadth of the group’s ERM policies and procedures. The group’s management has a strong understanding of the level of risk the organization is willing to accept. The FSR of A (Excellent) and the Long-Term ICRs of “a+” have been affirmed, with stable outlooks for the following members of the Nodak Insurance Group: American West Insurance Company Battle Creek Mutual Insurance Company Direct Auto Insurance Company Nodak Insurance Company Primero Insurance Company Westminster American Insurance Company This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com. Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. |
businesswire.com |
2021-04-14 20:55:00 |
Czytaj oryginał (ang.) |
| NI Holdings, Inc. Files Results for Fourth Quarter and Year Ended December 31, 2020 |
FARGO, N.D., March 10, 2021 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) today reported its financial results for the fourth quarter and year ended December 31, 2020. |
globenewswire.com |
2021-03-10 18:15:00 |
Czytaj oryginał (ang.) |