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NI Holdings , Inc. NI Holdings , Inc. Reports Results for Second Quarter Ended June 30 , 2026 FARGO , North Dakota , August 7 , 2026 – NI Holdings , Inc. ( NASDAQ : NODK ) announced today results for the quarter ended June 30 , 2026 . Summary of Second Quarter 2026 Results ( All comparisons vs. the second quarter of 2025 , unless noted otherwise ) Gross premiums written of $ 107.2 million compared to $ 111.8 million in the prior year quarter . This decrease was driven by Non- Standard Auto ( -98.9 % ) reflecting the continued impact of the Company's strategic decision to exit the majority of the segment , as well as a decline in Private Passenger Auto ( -8.0 % ) due to lower renewal premiums and new business in South Dakota and Nebraska , partially offset by increased new business in North Dakota . These declines were partially offset by All Other ( + 46.7 % ) due to increased assumed premiums from participation on catastrophe reinsurance programs of certain farm bureau insurance companies , and Crop ( + 8.8 % ) due to increased new business . Combined ratio of 107.7 % , versus 125.1 % in the prior year quarter . The improvement was primarily driven by lower catastrophe losses , 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 , and improved growing conditions in Crop , partially offset by higher non - catastrophe weather - related losses in Home and Farm . Total pre - tax catastrophe loss of $ 15.0 million for the quarter , which was below our reinsurance retention and adversely impacted the second quarter and year - to - date loss and loss adjustment expense ratios by 23.1 and 12.5 percentage points , respectively . This compares to total pre - tax catastrophe loss , net of reinsurance , of $ 20.0 million and $ 3.3 million of related reinstatement premiums in the prior year quarter , which adversely impacted the prior year quarter and prior year - to - date loss and loss adjustment expense ratios by 30.2 and 15.7 percentage points , respectively . Net investment income of $ 2.8 million , down 10.7 % from the prior year quarter , primarily due to a lower average fixed income portfolio balance . Basic earnings per share of $ 0.01 , compared to basic loss per share of $ ( 0.57 ) in the prior year quarter , reflecting improved profitability for the quarter . Three Months Ended June 30 , Six Months Ended June 30 , Dollars in thousands , except per share data ( unaudited ) 2026 2025 Change Gross premiums written $ 107,191 $ 111,828 ( 4.1 % ) Net premiums earned $ 65,017 $ 73,005 ( 10.9 % ) 2026 2025 $ 164,703 $ 179,594 $ 120,130 $ 140,502 Change ( 8.3 % ) ( 14.5 % ) Loss and LAE ratio 74.5 % 91.2 % ( 16.7 ) pts 59.7 % 74.8 % ( 15.1 ) pts Expense ratio 33.2 % 33.9 % ( 0.7 ) pts 35.1 % 35.5 % ( 0.4 ) pts Combined ratio 107.7 % 125.1 % ( 17.4 ) pts 94.8 % 110.3 % ( 15.5 ) pts Net investment income $ 2,810 $ 3,146 ( 10.7 % ) $ 5,465 $ 5,984 ( 8.7 % ) Net investment gains ( losses ) $ 2,063 $ ( 410 ) NM $ 3,767 $ 459 NM Net income $ 146 $ ( 12,051 ) NM $ 12,654 $ ( 5,591 ) NM Return on average equity 0.2 % ( 19.4 % ) 19.6 pts 10.3 % ( 4.6 % ) Basic earnings per share $ 0.01 $ ( 0.57 ) NM $ 0.61 $ ( 0.27 ) NM 14.9 pts NM = not meaningful Management Commentary " Our second quarter results are encouraging , especially given that the second quarter is historically our most challenging , a reality underscored by significant catastrophe events that impacted the company in both June 2025 and 2026 , " said Cindy Launer , President and Chief Executive Officer . “ Despite these catastrophe events and headwinds from increased non - catastrophe weather , we delivered improved year - over - year results , driven in part by favorable prior - year reserve development in Non - Standard Auto , alongside lower losses from our reduced exposure in the segment , validating our decision to strategically pivot away from that business . Furthermore , despite top - line declines tied to our strategic shifts , we are seeing strong momentum in our North Dakota business , solid contributions from our new assumed reinsurance business , and notable growth in our Crop segment .