Robust Growth in Premiums and Underwriting Profitability Highlight the Quarter
FARGO, N.D., May 09, 2024 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) announced today results for the quarter ended March 31, 2024. Summary of First Quarter 2024 Results(All comparisons vs. the first quarter of 2023, unless noted otherwise) Direct written premiums of $102.7 million, up 13.4%, driven by increases in Non-Standard Auto (23.2%), Home and Farm (13.1%) and Private Passenger Auto (7.9%).Net earned premiums of $85.6 million, up 10.2%.Combined ratio of 97.2% versus 112.2%, drive
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 approva