NI Holdings, Inc. (NODK) Form 8-K — Aug 7, 2026
NI Holdings reported second-quarter 2026 results, swinging to net income of $146 thousand (basic EPS of $0.01) from a $12.1 million loss (EPS of -$0.57) in the prior-year quarter. Six-month net income was $12.7 million, or $0.61 per share, versus a $5.6 million loss a year ago. The combined ratio improved 17.4 points to 107.7% from 125.1%, driven by lower catastrophe losses ($15.0 million pre-tax versus $20.0 million net last year), favorable prior-year reserve development in Non-Standard Auto, and improved crop conditions.
Key figures
- Eps
- $0.01 basic (Q2 2026) vs -$0.57 (Q2 2025)
- Revenue
- $65.0 million net premiums earned (Q2 2026), down 10.9%
- Net Income
- $146 thousand (Q2 2026) vs -$12.051 million (Q2 2025)
- Expense ratio
- 33.2% vs 33.9% prior year
- Six month eps
- $0.61 vs -$0.27
- Six month gpw
- $164.7 million vs $179.6 million (-8.3%)
- Combined ratio
- 107.7% vs 125.1% prior year (-17.4 pts)
- Loss lae ratio
- 74.5% vs 91.2% prior year
- Segment gpw changes
- ["Non-Standard Auto -98.9%","Private Passenger Auto -8.0%","All Other +46.7%","Crop +8.8%"]
- Net investment gains
- $2.063 million vs -$0.410 million prior year
- Return on avg equity
- 0.2% vs -19.4% prior year
- Six month net income
- $12.654 million vs -$5.591 million
- Net investment income
- $2.8 million, down 10.7%
- Gross premiums written
- $107.2 million vs $111.8 million prior year (-4.1%)
- Pretax catastrophe loss
- $15.0 million, below reinsurance retention; added 23.1 pts to quarterly loss ratio
- Six month combined ratio
- 94.8% vs 110.3%
- Prior year catastrophe loss
- $20.0 million net of reinsurance plus $3.3 million reinstatement premiums
Price after filing
Close on the filing date to close N calendar days later (from $15.36). Historical, not a forecast.
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