NI (NODK) 10-Q 4 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 04, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	NI Holdings, Inc.
Entity Central Index Key	1,681,206
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		22,352,844
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets:
Cash and cash equivalents	$ 25,209	$ 27,594
Fixed income securities, at fair value	238,480	236,758
Equity securities, at fair value	48,088	47,561
Other investments	1,954	1,972
Total cash and investments	313,731	313,885
Premiums and agents' balances receivable	26,968	25,632
Deferred policy acquisition costs	8,980	8,859
Reinsurance recoverables on losses	3,130	4,128
Accrued investment income	1,825	1,996
Property and equipment	5,879	5,877
Receivable from Federal Crop Insurance Corporation	9,735	10,501
Goodwill	2,628	2,628
Other assets	3,248	3,482
Total assets	376,124	376,988
Liabilities:
Unpaid losses and loss adjustment expenses	43,863	45,890
Unearned premiums	65,388	63,262
Reinsurance payable	19	428
Federal income tax payable	1,060	991
Deferred income taxes, net	1,479	2,539
Accrued expenses and other liabilities	5,666	8,305
Commitments and Contingencies
Total liabilities	117,475	121,415
Equity:
Common stock, $0.01 par value, authorized: 25,000,000 shares; issued: 23,000,000 shares; and outstanding: 2018 - 22,352,844 shares, 2017 - 22,337,644 shares	230	230
Preferred stock, without par value, authorized 5,000,000 shares, no shares issued or outstanding
Additional paid-in capital	93,678	93,496
Unearned employee stock ownership plan shares	(2,157)	(2,157)
Retained earnings	158,987	152,865
Accumulated other comprehensive income, net of income taxes	12,531	15,998
Treasury stock, at cost, 2018 - 431,471 shares, 2017 - 446,671 shares	(7,763)	(8,037)
Non-controlling interest	3,143	3,178
Total equity	258,649	255,573
Total liabilities and equity	$ 376,124	$ 376,988

Unaudited Consolidated Balance3

Unaudited Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	23,000,000	23,000,000
Common stock, shares outstanding	22,352,844	22,337,644
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Treasury stock, shares	431,471	446,671

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Net premiums earned	$ 36,112	$ 32,809
Fee and other income	377	347
Net investment income	1,369	999
Net realized capital gain on investments	469	616
Total revenues	38,327	34,771
Expenses:
Losses and loss adjustment expenses	18,849	17,721
Amortization of deferred policy acquisition costs	7,039	5,009
Other underwriting and general expenses	4,838	5,010
Total expenses	30,726	27,740
Income before income taxes	7,601	7,031
Income taxes	1,449	2,282
Net income	6,152	4,749
Net income attributable to non-controlling interest	30	60
Net income attributable to NI Holdings, Inc.	$ 6,122	$ 4,689
Earnings per common share:
Basic earnings per common share	$ 0.27	$ 0.21
Diluted earnings per common share	$ 0.27	$ 0.21

Unaudited Consolidated Stateme5

Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net income	$ 6,152	$ 4,749
Other comprehensive income (loss), before income taxes:
Holding (losses) on investments	(4,001)	716
Reclassification adjustment for net realized capital (gain) included in net income	(469)	(616)
Other comprehensive income (loss), before income taxes	(4,470)	100
Income tax benefit related to items of other comprehensive income	938	(35)
Other comprehensive (loss), net of income taxes	(3,532)	65
Comprehensive income (loss)	2,620	4,814
Attributable to Non-Controlling Interest [Member]
Net income	30	60
Other comprehensive income (loss), before income taxes:
Holding (losses) on investments	(82)	(26)
Reclassification adjustment for net realized capital (gain) included in net income
Other comprehensive income (loss), before income taxes	(82)	(26)
Income tax benefit related to items of other comprehensive income	17	9
Other comprehensive (loss), net of income taxes	(65)	(17)
Comprehensive income (loss)	(35)	43
Attributable to NI Holdings, [Member]
Net income	6,122	4,689
Other comprehensive income (loss), before income taxes:
Holding (losses) on investments	(3,919)	742
Reclassification adjustment for net realized capital (gain) included in net income	(469)	(616)
Other comprehensive income (loss), before income taxes	(4,388)	126
Income tax benefit related to items of other comprehensive income	921	(44)
Other comprehensive (loss), net of income taxes	(3,467)	82
Comprehensive income (loss)	$ 2,655	$ 4,771

Unaudited Consolidated Stateme6

Unaudited Consolidated Statement of Changes in Equity - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Unearned Employee Stock Ownership Plan Shares [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income, Net of Income Taxes [Member]	Treasury Stock	Non-controlling Interest [Member]	Total
Balance at Dec. 31, 2017	$ 230	$ 93,496	$ (2,157)	$ 152,865	$ 15,998	$ (8,037)	$ 3,178	$ 255,573
Net income			6,122				30	6,152
Other comprehensive income (loss), net of income taxes					(3,467)		(65)	(3,532)
Share-based compensation		$ 456						$ 456
Issuance of vested award shares		(274)				274
Balance at Mar. 31, 2018	$ 230	$ 93,678	$ (2,157)	$ 158,987	$ 12,531	$ (7,763)	$ 3,143	$ 258,649

Unaudited Consolidated Stateme7

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows from Operating Activities:
Net income	$ 6,152	$ 4,749
Adjustments to reconcile net income to net cash provided by operating activities:
Net realized capital gain on investments	(469)	(616)
Deferred income tax expense	(120)	(466)
Depreciation of property and equipment	139	(179)
Amortization of intangibles		8
Share-based compensation	456
Amortization of deferred policy acquisition costs	7,039	5,009
Deferral of policy acquisition costs	(7,160)	(5,748)
Net amortization of premiums and discounts on investments	349	244
Changes in assets and liabilities which provided (used) cash:
Premiums and agents' balances receivable	(1,336)	(1,470)
Reinsurance receivables / payables	(409)	784
Reinsurance recoverables on losses	998	(1,791)
Accrued investment income	171	(34)
Receivable from Federal Crop Insurance Corporation	766	3,752
Federal income tax recoverable / payable	69	2,753
Other assets	234	(585)
Unpaid losses and loss adjustment expenses	(2,027)	(2,136)
Unearned premiums	2,126	2,289
Accrued expenses and other liabilities	(2,639)	(399)
Net cash provided by operating activities	4,339	6,164
Cash flows from investing activities:
Proceeds from sales of fixed income securities	14,402	5,620
Proceeds from sales of equity securities	2,392	979
Purchases of fixed income securities	(20,542)	(14,429)
Purchases of equity securities	(2,853)	(825)
Purchases of property and equipment, net	(141)	(272)
Other	18	2
Net cash used in investing activities	(6,724)	(8,925)
Cash flows from financing activities:
Proceeds from issuance of common stock		93,145
Loan to employee stock ownership plan		(2,400)
Net cash provided by financing activities		90,745
Net (decrease) increase in cash and cash equivalents	(2,385)	87,984
Cash and cash equivalents at beginning of period	27,594	18,318
Cash and cash equivalents at end of period	$ 25,209	$ 106,302

Unaudited Consolidated Stateme8

Unaudited Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Cash Flows [Abstract]
Paid income tax	$ 1,500	$ 0

Organization

Organization	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization NI Holdings, Inc. (“NI Holdings”) is a North Dakota business corporation that is the stock holding company of Nodak Insurance Company and became such in connection with the conversion of Nodak Mutual Insurance Company from a mutual to stock form of organization and the creation of a mutual holding company. The conversion was consummated on March 13, 2017. Immediately following the conversion, all of the outstanding shares of common stock of Nodak Insurance Company (the successor to Nodak Mutual Insurance Company) were issued to Nodak Mutual Group, Inc., which then contributed the shares to NI Holdings in exchange for 55% of the outstanding shares of common stock of NI Holdings. Nodak Insurance Company then became a wholly-owned stock subsidiary of NI Holdings. Prior to completion of the conversion, NI Holdings conducted no business and had no assets or liabilities. As a result of the conversion, NI Holdings became the holding company for Nodak Insurance Company and its existing subsidiaries. The newly issued shares of NI Holdings were available for public trading on March 16, 2017. The consolidated financial statements of NI Holdings consist primarily of five entities: Nodak Insurance Company (“Nodak Insurance”, formerly Nodak Mutual Insurance Company prior to the conversion), Nodak Agency, Inc. (“Nodak Agency”), American West Insurance Company (“American West”), Primero Insurance Company (“Primero”), and an affiliated company, Battle Creek Mutual Insurance Company (“Battle Creek”). Nodak Insurance is the largest domestic property and casualty insurance company in North Dakota. Nodak Insurance was incorporated on April 15, 1946 under the laws of North Dakota, and benefits from a strong marketing affiliation with the North Dakota Farm Bureau (“NDFB”). Nodak Insurance specializes in providing private passenger auto, homeowners, farmowners, commercial, crop hail, and Federal multi-peril crop insurance coverages. Nodak Agency, a wholly-owned subsidiary of Nodak Insurance, is an inactive shell corporation. American West, a wholly-owned subsidiary of Nodak Insurance, is a property and casualty insurance company licensed in eight states in the Midwest and Western regions of the United States. American West began writing policies in 2002 and primarily writes personal auto, homeowners, and farm coverages in South Dakota. American West also writes personal auto in North Dakota, as well as crop hail and Federal multi-peril crop insurance coverages in Minnesota and South Dakota. Primero is a wholly-owned subsidiary of Tri-State, Ltd. Tri-State, Ltd. is an inactive shell corporation 100% owned by Nodak Insurance. Primero is a property and casualty insurance company writing non-standard automobile coverage in the states of Nevada, Arizona, North Dakota and South Dakota. Battle Creek is controlled by Nodak Insurance via a surplus note and 100% quota-share agreement. The terms of the surplus note and quota-share agreement allow Nodak Insurance to appoint two-thirds of the Battle Creek Board of Directors. Battle Creek is a property and casualty insurance company writing personal auto, homeowners, and farm coverages solely in the state of Nebraska. The same executive management and underwriting personnel administer products, classes of business, pricing practices, and underwriting standards of Nodak Insurance and its insurance subsidiaries. In addition, the insurance companies share a combined business plan to achieve market penetration and underwriting profitability objectives. Distinctions within the products of the insurance companies generally relate to the states in which the risk is located and specific risk profiles targeted within similar classes of business.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	2. Basis of Presentation Our consolidated financial statements, which we have prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), include our accounts and those of our wholly-owned subsidiaries, as well as Battle Creek, an entity we control via contract. We have eliminated all significant inter-company accounts and transactions in consolidation. The terms “we”, “us”, “our”, or “the Company” as used herein refer to the consolidated entity.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies Use of Estimates: In preparing our consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the balance sheet and revenues and expenses for the periods then ended. Actual results could differ significantly from those estimates. We make estimates and assumptions that can have a significant effect on amounts and disclosures we report in our consolidated financial statements. The most significant estimates relate to our reserves for unpaid losses and loss adjustment expenses, valuation of investments, determination of other-than-temporary impairments, valuation allowances for deferred income tax assets, and deferred policy acquisition costs. While we believe our estimates are appropriate, the ultimate amounts may differ from the estimates provided. We regularly review our methods for making these estimates as well as the continuing appropriateness of the estimated amounts, and we reflect any adjustment we consider necessary in our current results of operations. Variable-Interest Entities: Any company deemed to be a variable interest entity (“VIE”) is required to be consolidated by the primary beneficiary of the VIE. We assess our investments in other entities at inception to determine if any meet the qualifications of a VIE. We consider an investment in another company to be a VIE if (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support, (b) the characteristics of a controlling financial interest are missing (either the ability to make decisions through voting or other rights, the obligation to absorb expected losses of the entity or the right to receive the expected residual returns of the entity), or (c) the voting rights of the equity holders are not proportional to their obligations to absorb the expected losses of the entity and/or the rights to receive the expected residual returns of the entity, and substantially all of the entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights. Upon the occurrence of certain events, we would reassess our initial determination of whether the investment is a VIE. We evaluate whether we are the primary beneficiary of each VIE and we consolidate the VIE if we have both (1) the power to direct the economically significant activities of the entity and (2) the obligation to absorb losses of, or the right to receive benefits from, the entity. We consider the contractual agreements that define the ownership structure, distribution of profits and losses, risks, responsibilities, indebtedness, voting rights, and board representation of the respective parties in determining whether we qualify as the primary beneficiary. Our assessment of whether we are the primary beneficiary of a VIE is performed at least annually. We control Battle Creek via a 100% quota-share reinsurance agreement between Nodak Insurance and Battle Creek, as well as the ability to control a majority of the Board of Directors of Battle Creek. Through the effects of the 100% quota-share agreement with Battle Creek, we are considered the primary beneficiary of Battle Creek’s operating results excluding investment income, bad debt expense, and income taxes. Therefore, we consolidate the financial statements of Battle Creek, and Battle Creek’s policyholders’ interest in Battle Creek is reflected as a non-controlling interest in equity in our consolidated balance sheet. Cash and Cash Equivalents: Cash and cash equivalents include certain investments in highly liquid debt instruments with original maturities of three months or less. Cost approximates fair value for these short-term investments. Investments: We have categorized our investment portfolio as “available-for-sale” and have reported the portfolio at fair value, with unrealized gains and losses, net of income taxes, reported in accumulated other comprehensive income. Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Amortization of premium and accretion of discount are computed using an effective interest method. Realized gains and losses are determined using the specific identification method and included in the determination of net income. Net investment income includes interest and dividend income together with amortization of purchase premiums and discounts, and is net of investment management and custody fees. We review our investments each quarter to determine whether a decline in fair value below the amortized cost basis is other than temporary. Accordingly, we assess whether we intend to sell or it is more likely than not that we will be required to sell a security before recovery of its amortized cost basis. For fixed income securities that are considered other-than-temporarily impaired and that we do not intend to sell and will not be required to sell prior to recovery of the amortized cost basis, we separate the amount of the impairment into the amount that is credit related (credit loss component) and the amount due to all other factors. The credit loss component is recognized in earnings and is the difference between the security’s amortized cost basis and the present value of its expected future cash flows discounted at the security’s effective yield. The remaining difference between the security’s fair value and the present value of future expected cash flows is due to factors that are not credit related and, therefore, is not required to be recognized as losses in the consolidated statement of operations, but is recognized in other comprehensive income. We classify each fair value measurement at the appropriate level in the fair value hierarchy. The hierarchy gives the highest priority to unadjusted quoted market price in active markets for identical assets or liabilities (Level I measurements) and the lowest priority to unobservable inputs (Level III measurements). An asset’s or liability’s classification within the fair value hierarchy is based on the lowest level of significant input to its valuation. Level I – Quoted price in active markets for identical assets and liabilities. Level II – Quoted prices in markets that are not active or inputs that are observable either directly or indirectly. Level II inputs include quoted prices for similar assets or liabilities other than quoted in prices in Level I, quoted prices in markets that are not active, or other inputs that are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level III – Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Unobservable inputs reflect the reporting entity’s own assumptions that market participants would use in pricing the asset or liability. Level III assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Fair Value of Other Financial Instruments: Our other financial instruments, aside from investments, are cash and cash equivalents, premiums and agents’ balances receivable, and accrued expenses and accounts payable. The carrying amounts for cash and cash equivalents, premiums and agents’ balances receivable, and accrued expenses and accounts payable approximate their fair value based on their short-term nature. Other invested assets that do not have observable inputs and little or no market activity are carried on a cost basis. The carrying value of these other invested assets was $1,954 at March 31, 2018 and $1,972 at December 31, 2017. Reclassifications: Certain amounts in the 2017 consolidated financial statements have been reclassified to conform to the 2018 presentation. This includes a change in the Company’s reportable segments that was made in the fourth quarter of the year ended December 31, 2017. The prior segments were non-standard auto, crop, and other property and casualty. The new segments used throughout this filing are private passenger auto, non-standard auto, home and farm, crop, and all other. Revenue Recognition: We record premiums written at policy inception and recognize them as revenue on a pro rata basis over the policy term or, in the case of crop insurance, over the period of risk. The portion of premiums that could be earned in the future is deferred and reported as unearned premiums. When policies lapse, the Company reverses the unearned portion of the written premium and removes the applicable unearned premium. Policy-related fee income is recognized when collected. The Company uses the direct write-off method for recognizing bad debts. Accounts are deemed to be delinquent after 60 days except for those accounts associated with amounts due from insureds for premiums, in which case policy cancellation procedures are commenced in accordance with state insurance regulations. Any earned but uncollected premiums are written off immediately upon the effective date of policy cancellation. Policy Acquisition Costs: We defer our policy acquisition costs, consisting primarily of commissions, premium taxes and certain other underwriting costs, reduced by ceding commissions, which vary with and relate directly to the production of business. We amortize these deferred policy acquisition costs over the period in which we earn the premiums. The method we follow in computing deferred policy acquisition costs limits the amount of such deferred costs to their estimated realizable value, which gives effect to the premium to be earned, related investment income, losses and loss adjustment expenses, and certain other costs we expect to incur as we earn the premium. Property and Equipment: We report property and equipment at cost less accumulated depreciation. Depreciation is computed using the straight-line method based upon the estimated useful lives of the assets. Losses and Loss Adjustment Expenses: Liabilities for unpaid losses and loss adjustment expenses are estimates at a given point in time of the amounts we expect to pay with respect to policyholder claims based on facts and circumstances then known. At the time of establishing our estimates, we recognize that our ultimate liability for losses and loss adjustment expenses will exceed or be less than such estimates. We base our estimates of liabilities for unpaid losses and loss adjustment expenses on assumptions as to future loss trends, expected claims severity, judicial theories of liability, and other factors. During the loss adjustment period, we may learn additional facts regarding certain claims, and, consequently, it often becomes necessary for us to refine and adjust our estimates of the liability. We reflect any adjustments to our liabilities for unpaid losses and loss adjustment expenses in our operating results in the period in which we determine the need for a change in the estimates. We maintain liabilities for unpaid losses and loss adjustment expenses with respect to both reported and unreported claims. We establish these liabilities for the purpose of covering the ultimate costs of settling all losses, including investigation and litigation costs. We base the amount of our liability for reported losses primarily upon a case-by-case evaluation of the type of risk involved, knowledge of the circumstances surrounding each claim, and the insurance policy provisions relating to the type of loss our policyholder incurred. We determine the amount of our liability for unreported losses and loss adjustment expenses on the basis of historical information by line of insurance. We account for inflation in the reserving function through analysis of costs and trends and reviews of historical reserving results. We closely monitor our liabilities and update them periodically using new information on reported claims and a variety of statistical techniques. We do not discount our liabilities for unpaid losses and loss adjustment expense. Reserve estimates can change over time because of unexpected changes in assumptions related to our external environment and, to a lesser extent, assumptions as to our internal operations. Assumptions related to our external environment include the absence of significant changes in tort law and the legal environment which may impact liability exposure, the trends in judicial interpretations of insurance coverage and policy provisions, and the rate of loss cost inflation. Internal assumptions include consistency in the recording of premium and loss statistics, consistency in the recording of claims, payment and case reserving methodologies, accurate measurement of the impact of rate changes and changes in policy provisions, consistency in the quality and characteristics of business written within a given line of business, and consistency in reinsurance coverage and collectability of reinsured losses, among other items. To the extent we determine that underlying factors impacting our assumptions have changed, we attempt to make appropriate adjustments for such changes in our reserves. Accordingly, our ultimate liability for unpaid losses and loss adjustment expenses will likely differ from the amount recorded. Income Taxes: With the exception of Battle Creek, which files a stand-alone federal income tax return, we currently file a consolidated federal income tax return. For the year ended December 31, 2016, the consolidated federal income tax return included Nodak Mutual Insurance Company and its owned subsidiaries. For the year ended December 31, 2017 and thereafter, the consolidated federal income tax return included and will include thereafter NI Holdings, Inc. and its owned subsidiaries. The Company reports tax-related interest and penalties, if any, as part of income tax expense in the year such amounts are determinable. We account for deferred income taxes using the asset and liability method. The objective of the asset and liability method is to establish deferred income tax assets and liabilities for the temporary differences between the financial reporting basis and the income tax basis of our assets and liabilities at enacted tax rates expected to be in effect when we realize or settle such amounts. Accounting guidance requires that companies re-measure existing deferred income tax assets (including loss carryforwards) and liabilities when a change in tax rate occurs, and record an offset for the net amount of the change as a component of income tax expense from continuing operations in the period of enactment. The guidance also requires any change to a previously recorded valuation allowance as a result of re-measuring existing temporary differences and loss carryforwards to be reflected as a component of income tax expense from continuing operations. The Company has elected to reclassify any tax effects stranded in accumulated other comprehensive income as a result of a change in income tax rates to retained earnings. Credit Risk: Our primary investment objective is to earn competitive returns by investing in a diversified portfolio of securities. Our portfolio of fixed income securities and, to a lesser extent, short-term investments, is subject to credit risk. We define this risk as the potential loss in fair value resulting from adverse changes in the borrower’s ability to repay the debt. We manage this risk by performing an analysis of prospective investments and through regular reviews of our portfolio by our investment staff and advisors. We also limit the amount of our total investment portfolio that we invest in any one security. Property and liability insurance coverages are marketed through captive agents in North Dakota and through independent insurance agencies located throughout all operating areas. All business is billed directly to policyholders. We maintain cash balances primarily at one bank, which are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250. During the normal course of business, balances are maintained above the FDIC insurance limit. The Company maintains short-term investment balances in investment grade money market accounts that are insured by the Securities Investor Protection Corporation (“SIPC”) up to $500. On occasion, balances for these accounts are maintained in excess of the SIPC insurance limit. Reinsurance: The Company limits the maximum net loss that can arise from large risks or risks in concentrated areas of exposure by reinsuring (ceding) certain levels of risks to other insurers or reinsurers, either on an automatic basis under general reinsurance contracts knows as “treaties” or by negotiation on substantial individual risks. Ceded reinsurance is treated as the risk and liability of the assuming companies. Reinsurance contracts do not relieve the Company from its obligations to policyholders. In the event that all or any of the reinsuring companies might be unable to meet their obligations under existing reinsurance agreements, the Company would be liable for such defaulted amounts. Goodwill and Other Intangible Assets: Goodwill represents the excess of the purchase price over the underlying fair value of acquired entities. When completing acquisitions, we seek also to identify separately identifiable intangible assets that we have acquired. We assess goodwill and intangible assets with an indefinite useful life for impairment annually. We also assess goodwill and other intangible assets for impairment upon the occurrence of certain events. In making our assessment, we consider a number of factors including operating results, business plans, economic projections, anticipated future cash flows, and current market data. Inherent uncertainties exist with respect to these factors and to our judgment in applying them when we make our assessment. Impairment of goodwill and other intangible assets could result from changes in economic and operating conditions in future periods. We did not record any impairments of goodwill or other intangible assets during the three months ended March 31, 2018 and 2017. Goodwill arising from the acquisition of Primero in 2014 represents the excess of the purchase price over the fair value of the net assets acquired, and is reported separately in the Consolidated Balance Sheet. The purchase price in excess of the fair value of net assets acquired was negotiated at arms-length with an unrelated party and was based upon the strategic decision by Company management to expand both the geographic footprint and product lines of the Company. The nature of the business acquired was such that there were limited intangible assets not reflected in the net assets acquired. The purchase price was paid with a combination of cash and cancellation of obligations owed to the acquired company by the sellers. The goodwill which arose from this transaction is included in the basis of the net assets acquired and is not deductible for income tax purposes.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Recent Accounting Pronouncements	4. Recent Accounting Pronouncements As an emerging growth company, we have elected to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act. The following discussion includes effective dates for both public business entities and emerging growth companies, as well as whether specific guidance may be adopted early. Adopted On July 1, 2017, the Company early adopted amended guidance from the Financial Accounting Standards Board (the “FASB”) on goodwill impairment testing. Under the amended guidance, the optional qualitative assessment (Step 0) and the first step of the quantitative assessment (Step 1) remain unchanged. Step 2 is eliminated. As a result, for annual impairment testing or in the event a test is required prior to the annual test, the Company will use Step 0 to determine if an impairment might exist and Step 1 to determine the amount of goodwill impairment. An impairment loss will be recognized for the amount by which the reporting unit’s carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill in the reporting unit. This guidance is effective for annual and interim reporting periods beginning after December 15, 2019 for public business entities. For private companies and emerging growth companies, this guidance is also effective for annual and interim reporting periods beginning after December 15, 2021. Early adoption is permitted for all entities beginning in 2017. The Company early adopted this guidance on a prospective basis as a change in accounting principle, therefore at the date of adoption there was no impact to the Company’s financial position or results of operations. In March 2016, the FASB issued amended guidance to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the Consolidated Statement of Cash Flows. All excess income tax benefits and income tax deficiencies should be recognized as income tax expense or benefit in the Consolidated Statement of Operations, instead of affecting additional paid-in-capital on the Consolidated Balance Sheet. These discrete income tax items should be classified along with other income tax cash flows as an operating activity on the Consolidated Statement of Cash Flows. In addition, cash paid by an employer when directly withholding shares for tax-withholding purposes should be classified as a financing activity. This guidance is effective for annual periods beginning after December 15, 2016 for public business entities. For private companies and emerging growth companies, this guidance is effective for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted for all entities in any period. An entity that elects early adoption must adopt all amendments in the same period. Amendments requiring recognition of excess income tax benefits and income tax deficiencies in the Consolidated Statement of Operations should be applied prospectively. The Company early adopted this guidance on a prospective basis for the year ended December 31, 2017. At the date of adoption, there was a minimal impact to the computation of diluted earnings per share, but no impact to the Company’s financial position or results of operations. In February 2018, the FASB issued new guidance to provide companies the option to reclassify income tax effects that are stranded in accumulated other comprehensive income as a result of income tax reform to retained earnings. This guidance is effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted for reporting periods for which financial statements have not yet been issued or made available for issuance. In the period of adoption, an entity would be able to choose whether to apply the amendments retrospectively or in the period of adoption. The Company elected to early adopt this guidance on a prospective basis, resulting in a $2,717 reclassification of stranded income tax effects from accumulated other comprehensive income to retained earnings within the Equity section of the Consolidated Balance Sheet as of December 31, 2017. There was no impact to the Company’s financial position, results of operations, or cash flows. Not Yet Adopted In May 2014, the FASB issued guidance that establishes the manner in which an entity recognizes the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. While the guidance will replace most existing GAAP revenue recognition guidance, the scope of the guidance excludes insurance contracts. The Company has reviewed its sources of revenues, and has determined that no material revenues are derived from non-insurance contracts and thus subject to the new revenue recognition guidance. This guidance is effective for annual and interim reporting periods beginning after December 15, 2017 for public business entities. For private companies and emerging growth companies, this guidance is effective for annual reporting periods beginning after December 15, 2018 and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted for all entities. We currently believe that this guidance will have no impact on our financial position, results of operations, or cash flows. In January 2016, the FASB issued amended guidance that generally requires entities to measure equity securities at fair value and recognize changes in fair value in their results of operations. The amended guidance also simplifies the impairment assessment of equity securities without readily determinable fair values by requiring entities to perform a qualitative assessment to identify impairment. The FASB issued other disclosure and presentation improvements related to financial instruments within the guidance. The amended guidance is effective for annual and interim reporting periods beginning after December 15, 2017 for public business entities. For private companies and emerging growth companies, this guidance is effective for annual reporting periods beginning after December 15, 2018 and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted for all non-public entities as of the fiscal year beginning after December 15, 2017, including interim periods within those fiscal years. We are evaluating the requirements of this amended measurement and classification of financial instruments guidance and the potential impact on our financial position, results of operations, and cash flows. In February 2016, the FASB issued new guidance that requires lessees to recognize leases, including operating leases, on the lessee’s Balance Sheet, unless a lease is considered a short-term lease. The new guidance also requires entities to make new judgments to identify leases. The new guidance, which replaces the current lease guidance, is effective for annual and interim reporting periods beginning after December 15, 2018 for public business entities. For private companies and emerging growth companies, this guidance is effective for annual reporting periods beginning after December 15, 2019 and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted for all entities. We do not expect the adoption of this new guidance to have a significant impact on our financial position, results of operations, or cash flows. In June 2016, the FASB issued a new standard that will require timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The guidance will require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better form their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. Additionally, the guidance requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. Finally, the guidance amends the accounting for credit losses on available-for-sale fixed income securities and purchased financial assets with credit deterioration. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 for public business entities which are SEC filers. For private companies and emerging growth companies, this guidance is effective for annual reporting periods beginning after December 15, 2020 and interim periods within fiscal years beginning after December 15, 2021. Early adoption is permitted for all entities as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are evaluating the impact this new guidance will have on our financial position, results of operations, and cash flows. In August and November 2016, the FASB issued amended guidance on the presentation and classification of various items in the Statement of Cash Flows. The amendments address specific cash flow issues, including debt prepayments and contingent consideration payments made after a business combination. The amended guidance also requires the Statement of Cash Flows to explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Currently, the Statement of Cash Flows only explains the change in cash and cash equivalents. The amended guidance is effective for annual and interim reporting periods beginning after December 15, 2017 for public business entities. For private companies and emerging growth companies, this guidance is effective for annual reporting periods beginning after December 15, 2018 and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted for all entities, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The amendments are to be applied using a retrospective transition method to each period presented. The adoption of this amended guidance will not have an impact on our financial position or results of operations. We are evaluating the impact this amended guidance will have on our Consolidated Statement of Cash Flows. In March 2017, the FASB issued amended guidance to shorten the amortization period of premiums on certain purchased callable fixed income securities to the earliest call date. The amended guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. For private companies and emerging growth companies, this amended guidance is effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity should apply the amendments on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. We are evaluating the requirements of this guidance and the potential impact to our financial position, results of operations, and cash flows.

Investments

Investments	3 Months Ended
	Mar. 31, 2018
Marketable Securities [Abstract]
Investments	5. Investments The amortized cost and estimated fair value of investment securities as of March 31, 2018 and December 31, 2017, were as follows: March 31, 2018 Cost or Amortized Gross Unrealized Gross Unrealized Fair Value Fixed income securities: U.S. Government and agencies $ 12,488 $ 151 $ (170 ) $ 12,469 Obligations of states and political subdivisions 73,180 531 (881 ) 72,830 Corporate securities 90,866 434 (1,242 ) 90,058 Residential mortgage-backed securities 33,610 21 (666 ) 32,965 Commercial mortgage-backed securities 13,073 7 (249 ) 12,831 Asset-backed securities 17,514 — (187 ) 17,327 Total fixed income securities 240,731 1,144 (3,395 ) 238,480 Equity securities: Basic materials 1,158 74 (5 ) 1,227 Communications 3,011 1,487 (169 ) 4,329 Consumer, cyclical 5,356 3,694 (130 ) 8,920 Consumer, non-cyclical 7,348 4,468 (386 ) 11,430 Energy 2,223 290 (329 ) 2,184 Financial 2,043 345 (30 ) 2,358 Industrial 4,436 3,795 (10 ) 8,221 Technology 4,419 5,254 (254 ) 9,419 Total equity securities 29,994 19,407 (1,313 ) 48,088 Total investments $ 270,725 $ 20,551 $ (4,708 ) $ 286,568 December 31, 2017 Cost or Amortized Gross Unrealized Gross Unrealized Fair Value Fixed income securities: U.S. Government and agencies $ 9,531 $ 175 $ (57 ) $ 9,649 Obligations of states and political subdivisions 81,741 1,171 (317 ) 82,595 Corporate securities 88,474 1,197 (220 ) 89,451 Residential mortgage-backed securities 28,557 124 (157 ) 28,524 Commercial mortgage-backed securities 11,228 61 (119 ) 11,170 Asset-backed securities 15,447 10 (88 ) 15,369 Total fixed income securities 234,978 2,738 (958 ) 236,758 Equity securities: Basic materials 768 124 — 892 Communications 3,027 1,449 (154 ) 4,322 Consumer, cyclical 5,303 4,156 (120 ) 9,339 Consumer, non-cyclical 7,090 3,940 (125 ) 10,905 Energy 2,003 272 (44 ) 2,231 Financial 2,007 410 — 2,417 Industrial 5,038 4,167 — 9,205 Technology 3,792 4,668 (210 ) 8,250 Total equity securities 29,028 19,186 (653 ) 47,561 Total investments $ 264,006 $ 21,924 $ (1,611 ) $ 284,319 The amortized cost and estimated fair value of fixed income securities by contractual maturity are shown below. Actual maturities could differ from contractual maturities because issuers of the securities may have the right to call or prepay certain obligations, which may or may not include call or prepayment penalties. March 31, 2018 Amortized Cost Fair Value Due to mature: One year or less $ 11,261 $ 11,261 After one year through five years 90,133 89,904 After five years through ten years 65,059 64,340 After ten years 10,081 9,852 Mortgage / asset-backed securities 64,197 63,123 Total fixed income securities $ 240,731 $ 238,480 December 31, 2017 Amortized Cost Fair Value Due to mature: One year or less $ 12,761 $ 12,766 After one year through five years 86,830 87,642 After five years through ten years 69,586 70,680 After ten years 10,569 10,607 Mortgage / asset-backed securities 55,232 55,063 Total fixed income securities $ 234,978 $ 236,758 Fixed income securities with a fair value of $3,422 at March 31, 2018 and $3,493 at December 31, 2017, were deposited with various state regulatory agencies as required by law. The Company has not pledged any assets to secure any obligations. The investment category and duration of the Company’s gross unrealized losses on fixed income securities and equity securities were as follows: March 31, 2018 Less than 12 Months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: U.S. Government and agencies $ 7,829 $ (168 ) $ 497 $ (2 ) $ 8,326 $ (170 ) Obligations of states and political subdivisions 37,807 (715 ) 3,479 (166 ) 41,286 (881 ) Corporate securities 62,866 (1,228 ) 586 (14 ) 63,452 (1,242 ) Residential mortgage-backed securities 22,777 (409 ) 6,861 (257 ) 29,638 (666 ) Commercial mortgage-backed securities 9,701 (168 ) 1,616 (81 ) 11,317 (249 ) Asset-backed securities 15,894 (175 ) 751 (12 ) 16,645 (187 ) Total fixed income securities 156,874 (2,863 ) 13,790 (532 ) 170,664 (3,395 ) Equity securities: Basic materials 413 (5 ) — — 413 (5 ) Communications 885 (82 ) 127 (87 ) 1,012 (169 ) Consumer, cyclical 893 (130 ) — — 893 (130 ) Consumer, non-cyclical 3,470 (386 ) — — 3,470 (386 ) Energy 1,015 (329 ) — — 1,015 (329 ) Financial 796 (30 ) — — 796 (30 ) Industrial 393 (10 ) — — 393 (10 ) Technology 1,272 (186 ) 174 (68 ) 1,446 (254 ) Total equity securities 9,137 (1,158 ) 301 (155 ) 9,438 (1,313 ) Total investments $ 166,011 $ (4,021 ) $ 14,091 $ (687 ) $ 180,102 $ (4,708 ) December 31, 2017 Less than 12 Months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: U.S. Government and agencies $ 6,442 $ (54 ) $ 497 $ (3 ) $ 6,939 $ (57 ) Obligations of states and political subdivisions 28,219 (251 ) 3,593 (66 ) 31,812 (317 ) Corporate securities 39,025 (201 ) 1,195 (19 ) 40,220 (220 ) Residential mortgage-backed securities 7,573 (40 ) 7,248 (117 ) 14,821 (157 ) Commercial mortgage-backed securities 4,652 (64 ) 1,643 (55 ) 6,295 (119 ) Asset-backed securities 13,386 (80 ) 781 (8 ) 14,167 (88 ) Total fixed income securities 99,297 (690 ) 14,957 (268 ) 114,254 (958 ) Equity securities: Communications 840 (48 ) 107 (106 ) 947 (154 ) Consumer, cyclical 898 (116 ) 214 (4 ) 1,112 (120 ) Consumer, non-cyclical 1,894 (125 ) — — 1,894 (125 ) Energy 243 (44 ) — — 243 (44 ) Technology 634 (120 ) 152 (90 ) 786 (210 ) Total equity securities 4,509 (453 ) 473 (200 ) 4,982 (653 ) Total investments $ 103,806 $ (1,143 ) $ 15,430 $ (468 ) $ 119,236 $ (1,611 ) Investments with unrealized losses are categorized with a duration of greater than 12 months when all positions of a security have continually been in a loss position for at least 12 months. We frequently review our investment portfolio for declines in fair value. Our process for identifying declines in the fair value of investments that are other than temporary involves consideration of several factors. These factors include (i) the time period in which there has been a significant decline in value, (ii) an analysis of the liquidity, business prospects, and overall financial condition of the issuer, (iii) the significance of the decline, and (iv) our intent and ability to hold the investment for a sufficient period of time for the value to recover. When our analysis of the above factors results in the conclusion that declines in fair values are other than temporary, the cost of the securities is written down to fair value and the previously unrealized loss is therefore reflected as a realized capital loss on investment. The Company recorded no impairments in the three months ended March 31, 2018 and 2017. As of March 31, 2018, we held 289 fixed income securities with unrealized losses. As of December 31, 2017, we held 196 fixed income securities with unrealized losses. In conjunction with our outside investment advisors, we analyzed the credit ratings of the securities as well as the historical monthly amortized cost to fair value ratio of securities in an unrealized loss position. This analysis yielded no fixed income securities which had fair values less than 80% of amortized cost for the preceding 12-month period. Net investment income consisted of the following: Three Months Ended March 31, 2018 2017 Fixed income securities $ 1,599 $ 1,331 Equity securities 229 70 Real estate 91 86 Cash and cash equivalents 19 10 Total gross investment income 1,938 1,497 Investment expenses 569 498 Net investment income $ 1,369 $ 999 Net realized capital gain on investments consisted of the following: Three Months Ended March 31, 2018 2017 Gross realized gains $ 569 $ 628 Gross realized losses, excluding other-than-temporary impairment losses (100 ) (12 ) Other-than-temporary impairment losses — — Net realized capital gain on investments $ 469 $ 616

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Investments, All Other Investments [Abstract]
Fair Value Measurements	6. Fair Value Measurements We maximize the use of observable inputs in our valuation techniques and apply unobservable inputs only to the extent that observable inputs are unavailable. The largest class of assets and liabilities carried at fair value by the Company at March 31, 2018 and December 31, 2017 were fixed income securities. Prices provided by independent pricing services and independent broker quotes can vary widely, even for the same security. Our available-for-sale investments are comprised of a variety of different securities, which are classified into levels based on the valuation technique and inputs used in their valuation. The valuation of cash equivalents and equity securities are generally based on Level I inputs, which use the market approach valuation technique. The valuation of fixed income securities generally incorporates significant Level II inputs using the market and income approach techniques. We may assign a lower level to inputs typically considered to be Level II based on our assessment of liquidity and relative level of uncertainty surrounding inputs. There were no assets or liabilities classified as Level III at March 31, 2018 or December 31, 2017. The following tables set forth our assets which are measured on a recurring basis by the level within the fair value hierarchy in which fair value measurements fall: March 31, 2018 Total Level I Level II Level III Fixed income securities: U.S. Government and agencies $ 12,469 $ — $ 12,469 $ — Obligations of states and political subdivisions 72,830 — 72,830 — Corporate securities 90,058 — 90,058 — Residential mortgage-backed securities 32,965 — 32,965 — Commercial mortgage-backed securities 12,831 — 12,831 — Asset-backed securities 17,327 — 17,327 — Total fixed income securities 238,480 — 238,480 — Equity securities: Basic materials 1,227 1,227 — — Communications 4,329 4,329 — — Consumer, cyclical 8,920 8,920 — — Consumer, non-cyclical 11,430 11,430 — — Energy 2,184 2,184 — — Financial 2,358 2,358 — — Industrial 8,221 8,221 — — Technology 9,419 9,419 — — Total equity securities 48,088 48,088 — — Cash and cash equivalents 25,209 25,209 — — Total assets at fair value $ 311,777 $ 73,297 $ 238,480 $ — December 31, 2017 Total Level I Level II Level III Fixed income securities: U.S. Government and agencies $ 9,649 $ — $ 9,649 $ — Obligations of states and political subdivisions 82,595 — 82,595 — Corporate securities 89,451 — 89,451 — Residential mortgage-backed securities 28,524 — 28,524 — Commercial mortgage-backed securities 11,170 — 11,170 — Asset-backed securities 15,369 — 15,369 — Total fixed income securities 236,758 — 236,758 — Equity securities: Basic materials 892 892 — — Communications 4,322 4,322 — — Consumer, cyclical 9,339 9,339 — — Consumer, non-cyclical 10,905 10,905 — — Energy 2,231 2,231 — — Financial 2,417 2,417 — — Industrial 9,205 9,205 — — Technology 8,250 8,250 — — Total equity securities 47,561 47,561 — — Cash and cash equivalents 27,594 27,594 — — Total assets at fair value $ 311,913 $ 75,155 $ 236,758 $ — There were no liabilities measured at fair value on a recurring basis at March 31, 2018 or December 31, 2017.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2018
Reinsurance Disclosures [Abstract]
Reinsurance	7. Reinsurance The Company will assume and cede certain premiums and losses to and from various companies and associations under various reinsurance agreements. The Company seeks to limit the maximum net loss that can arise from large risks or risks in concentrated areas of exposure through use of these agreements, either on an automatic basis under general reinsurance contracts known as treaties or by negotiation on substantial individual risks. Reinsurance contracts do not relieve the Company from its obligation to policyholders. Additionally, failure of reinsurers to honor their obligations could result in significant losses to us. There can be no assurance that reinsurance will continue to be available to us at the same extent, and at the same cost, as it has in the past. The Company may choose in the future to reevaluate the use of reinsurance to increase or decrease the amounts of risk ceded to reinsurers. As a group at March 31, 2018, the Company retained the first $10,000 of weather related losses from catastrophic events and had reinsurance under various reinsurance agreements up to $74,600 in excess of its $10,000 retained risk. These reinsurance risk limits are unchanged from 2017. The Company actively monitors and evaluates the financial condition of the reinsurers and develops estimates of the uncollectible amounts due from reinsurers. Such estimates are made based on periodic evaluation of balances due from reinsurers, judgments regarding reinsurers’ solvency, known disputes, reporting characteristics of the underlying reinsured business, historical experience, current economic conditions, and the state of reinsurer relations in general. Collection risk is mitigated from reinsurers by entering into reinsurance arrangements only with reinsurers that have strong credit ratings and statutory surplus above certain levels. The Company’s largest reinsurance recoverables on paid and unpaid losses were due from reinsurance companies with A.M. Best ratings of “A” or higher. A reconciliation of direct to net premiums on both a written and an earned basis is as follows: Three Months Ended March 31, 2018 Premiums Written Premiums Earned Direct premium $ 39,274 $ 37,192 Assumed premium 1,283 1,239 Ceded premium (2,319 ) (2,319 ) Net premiums $ 38,238 $ 36,112 Percentage of assumed earned premium to net earned premium 3.4% Three Months Ended March 31, 2017 Premiums Written Premiums Earned Direct premium $ 36,380 $ 34,116 Assumed premium 1,195 1,171 Ceded premium (2,478 ) (2,478 ) Net premiums $ 35,097 $ 32,809 Percentage of assumed earned premium to net earned premium 3.6% A reconciliation of direct to net losses and loss adjustment expenses is as follows: Three Months Ended March 31, 2018 2017 Direct losses and loss adjustment expenses $ 18,637 $ 19,642 Assumed losses and loss adjustment expenses 589 588 Ceded losses and loss adjustment expenses (377 ) (2,509 ) Net losses and loss adjustment expenses $ 18,849 $ 17,721 If 100% of our ceded reinsurance was cancelled as of March 31, 2018 or December 31, 2017, no ceded commissions would need to be returned to the reinsurers. Reinsurance contracts are typically effective from January 1 through December 31 each year.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	3 Months Ended
	Mar. 31, 2018
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs	8. Deferred Policy Acquisition Costs Activity with regards to our deferred policy acquisition costs was as follows: Three Months Ended March 31, 2018 2017 Balance, beginning of period $ 8,859 $ 8,942 Deferral of policy acquisition costs 7,160 5,748 Amortization of deferred policy acquisition costs (7,039 ) (5,009 ) Balance, end of period $ 8,980 $ 9,681

Unpaid Losses and Loss Adjustme

Unpaid Losses and Loss Adjustment Expenses	3 Months Ended
	Mar. 31, 2018
Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract]
Unpaid Losses and Loss Adjustment Expenses	9. Unpaid Losses and Loss Adjustment Expenses Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows: Three Months Ended March 31, 2018 2017 Balance at beginning of period: Liability for unpaid losses and loss adjustment expense $ 45,890 $ 59,632 Reinsurance recoverables on losses 4,128 7,192 Net balance at beginning of period 41,762 52,440 Incurred related to: Current year 18,773 20,520 Prior years 76 (2,799 ) Total incurred 18,849 17,721 Paid related to: Current year 8,740 7,516 Prior years 11,138 14,132 Total paid 19,878 21,648 Balance at end of period: Liability for unpaid losses and loss adjustment expense 43,863 57,496 Reinsurance recoverables on losses 3,130 8,983 Net balance at end of period $ 40,733 $ 48,513 The prior years’ provision for unpaid losses and loss adjustment expenses increased by $76 during the three months ended March 31, 2018, compared to a decrease of $2,799 for the three months ended March 31, 2017. For the year ended December 31, 2017, the prior years’ provision for unpaid losses and loss adjustment expenses decreased by $10,101. Increases and decreases are generally the result of ongoing analysis of loss development trends. As additional information becomes known regarding individual claims, original estimates are increased or decreased accordingly.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	10. Property and Equipment Property and equipment consisted of the following: March 31, 2018 December 31, 2017 Estimated Useful Life Cost: Real estate $ 10,740 $ 10,633 10 - 31 years Electronic data processing equipment 1,301 1,288 5-7 years Furniture and fixtures 3,532 3,511 5-7 years Automobiles 1,595 1,595 2-3 years Gross cost 17,168 17,027 Accumulated depreciation (11,289 ) (11,150 ) Total property and equipment, net $ 5,879 $ 5,877 Depreciation expense was $139 and $124 for the three months ended March 31, 2018 and 2017, respectively.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	11. Related Party Transactions We were organized by the NDFB to provide insurance protection for its members. We have a royalty agreement with the NDFB that recognizes the use of their trademark and provides royalties to the NDFB based on the premiums written on Nodak Insurance’s insurance policies. Royalties paid to the NDFB were $307 and $294 during the three months ended March 31, 2018 and 2017, respectively. Royalty amounts payable of $119 and $99 were accrued as a liability to the NDFB at March 31, 2018 and December 31, 2017, respectively. State insurance laws require our insurance subsidiaries to maintain certain minimum capital and surplus amounts on a statutory basis. Our insurance subsidiaries are subject to regulations that restrict the payment of dividends from statutory surplus and may require prior approval from their domiciliary insurance regulatory authorities. Our insurance subsidiaries are also subject to risk-based capital (“RBC”) requirements that may further affect their ability to pay dividends. Our insurance subsidiaries statutory capital and surplus at December 31, 2017 exceeded the amount of statutory capital and surplus necessary to satisfy regulatory requirements, including the RBC requirements, by a significant margin. The amount available for payment of dividends from Nodak Insurance to NI Holdings after the conversion without the prior approval of the North Dakota Insurance Department is $15,654 based upon the policyholders’ surplus of Nodak Insurance at December 31, 2017. Prior to its payment of any extraordinary dividend, Nodak Insurance will be required to provide notice of the dividend to the North Dakota Insurance Department. This notice must be provided to the North Dakota Insurance Department 30 days prior to the payment of an extraordinary dividend and 10 days prior to the payment of an ordinary dividend. The North Dakota Insurance Department has the power to limit or prohibit dividend payments if Nodak Insurance is in violation of any law or regulation. These restrictions or any subsequently imposed restrictions may affect our future liquidity. No dividends were declared or paid in the three months ended March 31, 2018 or the year ended December 31, 2017. The following table illustrates the impact of including Battle Creek in our Consolidated Balance Sheets prior to intercompany eliminations: March 31, 2018 December 31, 2017 Assets: Cash and cash equivalents (overdraft) $ 489 $ (726 ) Investments 4,326 4,364 Premiums and agents’ balances receivable 3,929 4,055 Reinsurance recoverables on losses (1) 20,836 20,932 Accrued investment income 33 29 Deferred income tax asset, net 398 389 Property and equipment 365 370 Other assets 52 54 Total assets $ 30,428 $ 29,467 Liabilities: Unpaid losses and loss adjustment expenses $ 7,730 $ 7,995 Unearned premiums 13,107 12,937 Notes payable (1) 3,000 3,000 Reinsurance payable (1) 2,619 965 Accrued expenses and other liabilities 829 1,392 Total liabilities 27,285 26,289 Equity: Non-controlling interest 3,143 3,178 Total equity 3,143 3,178 Total liabilities and equity $ 30,428 $ 29,467 (1) Amount eliminated in consolidation. Total statutory revenues and expenses of Battle Creek after intercompany eliminations, which is limited to net investment income and certain miscellaneous other income and expenses, were $38 and $0, respectively, during the three months ended March 31, 2018, and $58 and $0, respectively, during the three months ended March 31, 2017.

Benefit Plans

Benefit Plans	3 Months Ended
	Mar. 31, 2018
Compensation Related Costs [Abstract]
Benefit Plans	12. Benefit Plans The Company sponsors a money purchase plan that covers all eligible employees. Plan costs are funded annually as they are earned. The Company’s contribution expense for the money purchase plan totaled $197 and $156 for the three months ended March 31, 2018 and 2017, respectively. The Company also sponsors a 401(k) plan with an automatic contribution to all eligible employees and a matching contribution for eligible employees of 50% up to 3% of eligible compensation. The Company’s contributions expense to the 401(k) plan totaled $140 and $115 for the three months ended March 31, 2018 and 2017, respectively. All fees associated with both plans are deducted from the eligible employee accounts. Deferred Compensation Plan Effective April 28, 2016, the Board of Directors authorized a non-qualified deferred compensation plan covering key executives of the Company as designated by the Board of Directors. The Company’s policy is to fund the plan in a given calendar year by amounts that exceed the maximum contribution allowed by the Employee Retirement Income Security Act (“ERISA”), beginning in 2017. Funds deposited were $144 and $105 during the three months ended March 31, 2018 and 2017, respectively. Employee Stock Ownership Plan The Company has established an Employee Stock Ownership Plan (the “ESOP”). The ESOP is intended to be an employee stock ownership plan within the meaning of Internal Revenue Code Section 4975(e)(7) and will invest primarily in common stock of the Company. In connection with our initial public offering in March 2017, Nodak Insurance loaned $2,400 to the ESOP’s related trust (the “ESOP Trust”). The ESOP loan will be for a period of ten years and bears interest at the long-term Applicable Federal Rate effective on the closing date of the offering (2.79% annually). The ESOP Trust used the proceeds of the loan to purchase shares in our initial public offering, which results in the ESOP Trust owning approximately 1.0% of the Company’s authorized shares. The ESOP has purchased the shares for investment and not for resale. The shares purchased by the ESOP Trust in the offering are held in a suspense account as collateral for the ESOP loan. The shares held in the ESOP’s suspense account are not considered outstanding for earnings per share purposes. Nodak Insurance will make semi-annual cash contributions to the ESOP in amounts no smaller than the amounts required for the ESOP Trust to make its loan payments to Nodak Insurance. While the ESOP makes two loan payments per year, a pre-determined portion of the shares will be released from the suspense account and allocated to participant accounts at the end of the calendar year. This release and allocation will occur on an annual basis over the ten-year term of the ESOP loan. Nodak Insurance will have a lien on the shares of common stock of the Company held by the ESOP to secure repayment of the loan from the ESOP to Nodak Insurance. If the ESOP is terminated as a result of a change in control of the Company, the ESOP may be required to pay the costs of terminating the plan. It is anticipated that the only assets held by the ESOP will be shares of the Company’s common stock. Participants in the ESOP cannot direct the investment of any assets allocated to their accounts. The initial ESOP participants are employees of Nodak Insurance. The employees of Primero will not participate in the ESOP. Each employee of Nodak Insurance will automatically become a participant in the ESOP if such employee is at least 21 years old, has completed a minimum of one thousand hours of service with Nodak Insurance, and has completed an Eligibility Computation Period. Employees are not permitted to make any contributions to the ESOP. Participants in the ESOP will receive annual reports from the Company showing the number of shares of common stock of the Company allocated to the participant’s account and the market value of those shares. The shares are allocated to participants based on compensation as provided for in the ESOP. In connection with the initial public offering, the Company created a contra-equity account on the Company’s Consolidated Balance Sheet equal to the ESOP’s basis in the shares. The basis of those shares was set at $10.00 per share as part of the initial public offering. As shares are released from the ESOP suspense account, the contra-equity account will be credited, which shall reduce the impact of the contra-equity account on the Company’s Consolidated Balance Sheet. The Company shall record a compensation expense related to the shares released, which compensation expense is equal to the number of shares released from the suspense account multiplied by the average market value of the Company’s stock during the period. The Company recognized compensation expense of $103 and $0 for the three months ended March 31, 2018 and 2017, respectively. At December 31, 2017, 24,315 ESOP shares were released and allocated to participants, with a remainder of 215,685 ESOP shares in suspense at both December 31, 2017 and March 31, 2018. Using the Company’s quarter-end market price of $16.70, the fair value of the unearned ESOP shares was $3,602 at March 31, 2018.

Line of Credit

Line of Credit	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Line of Credit	13. Line of Credit Nodak Insurance has a $3,000 line of credit with Wells Fargo Bank, N.A., of which there were no outstanding amounts as of March 31, 2018 or December 31, 2017. This line of credit is scheduled to expire on November 30, 2018.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	14. Income Taxes At March 31, 2018 and December 31, 2017, we had no unrecognized tax benefits, no accrued interest and penalties, and no significant uncertain tax positions. No interest and penalties were recognized during the three months ended March 31, 2018 or 2017. At March 31, 2018 and December 31, 2017, the Company, other than Battle Creek, had no income tax related carryovers for net operating losses, alternative minimum tax credits, or capital losses. Battle Creek, which files its income tax returns on a stand-alone basis, had $4,951 of net operating loss carryover at December 31, 2017. The net operating loss carryforward expires beginning in 2021 through 2030.

Operating Leases

Operating Leases	3 Months Ended
	Mar. 31, 2018
Leases, Operating [Abstract]
Operating Leases	15. Operating Leases We leased facilities, equipment, and software under non-cancellable operating leases expiring at various times through November 2017. Expenses related to these leases were $0 and $80 for the three months ended March 31, 2018 and 2017, respectively. As of March 31, 2018, we have no minimum future commitments under non-cancellable leases. We also sub-lease portions of our home office building under non-cancellable operating leases.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Contingencies	16. Contingencies We have been named as a defendant in various lawsuits relating to our insurance operations. Contingent liabilities arising from litigation, income taxes and other matters are not considered to be material to our financial position. The Company does not have any unrecorded or potential contingent liabilities or material commitments requiring the use of assets as of March 31, 2018 or December 31, 2017.

Common Stock

Common Stock	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Common Stock	17. Common Stock Changes in the number of common stock shares outstanding are as follows: Three Months Ended March 31, 2018 2017 Shares outstanding, beginning of period 22,337,644 — Initial public offering — 23,000,000 Shares repurchased related to employee stock ownership plan — (240,000 ) Issuance of treasury shares related to restricted stock unit awards 15,200 — Shares outstanding, end of period 22,352,844 22,760,000 Note: Shares were not available prior to the Company’s initial public offering in March 2017. On May 23, 2017, our Board of Directors approved an authorization for the repurchase of up to $8 million of the Company’s outstanding common stock. We completed the repurchase of 446,671 shares of our common stock for $8,037 during the three months ended June 30, 2017, and reflected the cost of this treasury stock as a reduction of equity within our Consolidated Balance Sheet as of December 31, 2017. On February 28, 2018, our Board of Directors approved an authorization for the repurchase of up to approximately $10 million of the Company’s outstanding common stock. No shares of our common stock have been repurchased under this authorization.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation	18. Stock Based Compensation At its 2017 Annual Shareholders’ Meeting, the NI Holdings, Inc. 2017 Stock and Incentive Plan (the “Plan”) was approved by shareholders. The purpose of the Plan is to promote the interests of the Company and its shareholders by aiding the Company in attracting and retaining employees, officers, consultants, advisors, and non-employee directors capable of assuring the future success of the Company, to offer such persons incentives to put forth maximum efforts for the success of the Company’s business, to compensate such persons through various stock and cash-based arrangements, and to provide them with opportunities for stock ownership in the Company, thereby aligning the interests of such persons with the Company’s shareholders. The Plan provides for the grant of nonqualified stock options, incentive stock options, restricted stock units (“RSUs”), stock appreciation rights, dividend equivalents, and performance share units (“PSUs”) to employees, officers, consultants, advisors, non-employee directors, and independent contractors designated by the Compensation Committee of the Board of Directors (the “Compensation Committee”). Awards made under the Plan are based upon, among other things, a participant’s level of responsibility and performance within the Company. The total aggregate number of shares of common stock that awards may be issued under all awards made under the Plan shall not exceed 500,000 shares of common stock, subject to adjustments as provided in the Plan. No eligible participant may be granted more than 100,000 shares from any stock options, stock appreciation rights, or performance awards denominated in shares, in the aggregate in any calendar year, subject to adjustment in accordance with the Plan. The aggregate amount payable pursuant to all performance awards denominated in cash to any eligible person in any calendar year is limited to $1,000 in value. Directors who are not also employees of the Company may not be granted awards denominated in shares that exceed $100 in any calendar year. Restricted Stock Units On December 1, 2017, the Compensation Committee awarded RSUs to non-employee directors and select executives. RSUs are promises to issue actual shares of common stock at the end of a vesting period. The RSUs granted to executives under the Plan were based on salary and generally vest 20% per year over a five-year period, while RSUs granted to non-employee directors vest in May 2018. Dividend equivalents on RSUs are accrued during the vesting period and paid in cash at the end of the vesting period, but are subject to forfeiture until the underlying shares become vested. Participants do not have voting rights with respect to RSUs. On March 1, 2018, the first tranche of executive RSUs vested. On March 1, 2018, the Compensation Committee awarded additional RSUs to select executives with the same terms as the previous awards. The Company recognizes stock-based compensation costs based on the grant date fair value over the vesting period of the awards. Estimated forfeitures are included in the determination of compensation costs. No forfeitures are currently estimated. A summary of the Company’s outstanding RSUs for the three months ended March 31, 2018, is presented below: Shares Weighted- Fair Value Units outstanding at December 31, 2017 65,500 $ 17.31 Grants 32,500 16.25 Vested (19,200 ) 17.31 Units outstanding at March 31, 2018 78,800 $ 16.97 The following table shows a summary of RSU activity: Three Months Ended March 31, 2018 2017 RSU compensation expense $ 434 $ — Income tax benefit (91 ) — RSU compensation expense, net of income taxes $ 343 n/a Note: Share-based compensation was not available prior to the Company’s initial public offering in March 2017. At March 31, 2018, there was $1,108 of unrecognized compensation cost related to outstanding RSUs. That cost is expected to be recognized over a weighted-average period of 1.27 years. Performance Stock Units On March 1, 2018, the Compensation Committee awarded PSUs to select executives. PSUs are promises to issue actual shares of common stock at the end of a vesting period, if certain performance conditions are met. The PSUs granted to employees under the Plan were based on salary and include a three-year book value cumulative growth target with threshold and stretch goals. They will vest on the third anniversary of the grant date, subject to the participant’s continuous employment through the vesting date and the level of performance achieved. Dividend equivalents on PSUs are accrued and paid in cash at the end of the performance period in accordance with the level of performance achieved, but are subject to forfeiture until the underlying shares become vested. Participants do not have voting rights with respect to PSUs. The Company recognizes stock-based compensation costs based on the grant date fair value over the performance period of the awards. Estimated forfeitures are included in the determination of compensation costs. No forfeitures are currently estimated. The current cost estimate assumes that the cumulative growth target will be achieved. A summary of the Company’s outstanding PSUs for the three months ended March 31, 2018, is presented below: Performance Share Weighted-Average Fair Value Units outstanding at December 31, 2017 — $ — Grants (at target) 48,600 16.25 Units outstanding at March 31, 2018 48,600 $ 16.25 The following table shows a summary of PSU activity: Three Months Ended March 31, 2018 2017 PSU compensation expense $ 22 $ — Income tax benefit (5 ) — PSU compensation expense, net of income taxes $ 17 $ n/a Note: Share-based compensation was not available prior to the Company’s initial public offering in March 2017. PSU grants above represent initial target awards and do not reflect potential increases or decreases resulting from financial performance objectives to be determined at the end of the performance period. The actual number of shares to be issued at the end of the performance period will range from 0% to 150% of the initial target awards. At March 31, 2018, there was $768 of unrecognized compensation cost related to outstanding PSUs. That cost is expected to be recognized over a weighted-average period of 1.50 years.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	19. Earnings Per Share As described in Note 1, the conversion of the mutual company to a stock company resulted in the issuance of NI Holdings common shares on March 13, 2017. Earnings per share are computed by dividing net income available to common shareholders for the period by the weighted average number of common shares outstanding for the same period. The weighted average number of common shares outstanding was 22,361,757 for the three months ended March 31, 2018, and 22,760,000 for the three months ended March 31, 2017. For the period prior to the date of the conversion, we assumed that the net common shares issued in the initial public offering of 22,760,000 shares were outstanding since January 1, 2017. Unearned ESOP shares are not considered outstanding until they are released and allocated to plan participants. Unearned RSU and PSU shares are not considered outstanding until they are earned by award participants. The following table presents a reconciliation of the numerators and denominators we used in the basic and diluted per share computations for our common stock: Three Months Ended March 31, 2018 2017 Basic earnings per common share: Numerator: Net income attributable to NI Holdings, Inc. $ 6,122 $ 4,689 Denominator: Weighted average shares outstanding 22,361,757 22,760,000 Basic earnings per common share $ 0.27 $ 0.21 Diluted earnings per common share: Numerator: Net income attributable to NI Holdings, Inc. $ 6,122 $ 4,689 Denominator: Number of shares used in basic computation 22,361,757 22,760,000 Weighted average effect of dilutive securities Add: Restricted stock units and performance share units 12,299 — Number of shares used in per share computations 22,374,056 22,760,000 Diluted earnings per common share $ 0.27 $ 0.21

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	20. Segment Information We have four primary reportable operating segments, which consist of private passenger auto insurance, non-standard auto insurance, home and farm insurance, and crop insurance. A fifth segment captures all other insurance coverages we sell, including commercial coverages and our assumed reinsurance lines of business. We operate only in the United States, and no single customer or agent provides 10 percent or more of our revenues. The following tables provide available information of these segments for the three months ended March 31, 2018 and 2017. Prior years have been restated to reflect the change in segments. For presentation in these tables, “LAE” refers to loss adjustment expenses. Three Months Ended March 31, 2018 Private Non- Home and Crop All Other Total Direct premiums earned $ 15,580 $ 2,991 $ 16,620 $ (1 ) $ 2,002 $ 37,192 Assumed premiums earned 4 — (5 ) — 1,240 1,239 Ceded premiums earned (759 ) — (1,497 ) 102 (165 ) (2,319 ) Net premiums earned 14,825 2,991 15,118 101 3,077 36,112 Direct losses and LAE 10,187 1,964 5,416 339 731 18,637 Assumed losses and LAE — — 13 — 576 589 Ceded losses and LAE (65 ) — (107 ) (24 ) (181 ) (377 ) Net losses and LAE 10,122 1,964 5,322 315 1,126 18,849 Gross margin 4,703 1,027 9,796 (214 ) 1,951 17,263 Underwriting and general expenses 4,419 1,036 4,954 488 980 11,877 Underwriting gain (loss) 284 (9 ) 4,842 (702 ) 971 5,386 Fee and other income 322 377 313 Net investment income 1,369 Net realized capital gain on investments 469 Income before income taxes 7,601 Income taxes 1,449 Net income 6,152 Net income attributable to non-controlling interest 30 Net income attributable to NI Holdings, Inc. $ 6,122 Loss and LAE ratio 68.3% 65.7% 35.2% 311.9% 36.6% 52.2% Expense ratio 29.8% 34.6% 32.8% 483.2% 31.8% 32.9% Combined ratio 98.1% 100.3% 68.0% 795.0% 68.4% 85.1% Balances at March 31, 2018: Premiums receivable $ 16,043 $ 1,251 $ 8,393 $ — $ 1,281 $ 26,968 Deferred policy acquisition costs 3,481 343 4,634 — 522 8,980 Reinsurance recoverables 383 — 713 19 2,015 3,130 Receivable from Federal Crop Insurance Corporation — — — 9,735 — 9,735 Unpaid losses and LAE 17,824 5,339 10,124 160 10,416 43,863 Unearned premiums 25,380 1,981 33,528 — 4,499 65,388 Three Months Ended March 31, 2017 Private Non- Home and Crop All Other Total Direct premiums earned $ 13,599 $ 2,531 $ 15,072 $ 1,026 $ 1,888 $ 34,116 Assumed premiums earned 4 — 1 2 1,164 1,171 Ceded premiums earned (959 ) — (1,435 ) 72 (156 ) (2,478 ) Net premiums earned 12,644 2,531 13,638 1,100 2,896 32,809 Direct losses and LAE 10,029 2,373 5,286 532 1,422 19,642 Assumed losses and LAE 271 — — — 317 588 Ceded losses and LAE (313 ) — (854 ) 48 (1,390 ) (2,509 ) Net losses and LAE 9,987 2,373 4,432 580 349 17,721 Gross margin 2,657 158 9,206 520 2,547 15,088 Underwriting and general expenses 4,207 685 3,513 851 763 10,019 Underwriting gain (loss) (1,550 ) (527 ) 5,693 (331 ) 1,784 5,069 Fee and other income 264 347 (263 ) Net investment income 999 Net realized capital gain on investments 616 Income before income taxes 7,031 Income taxes 2,282 Net income 4,749 Net income attributable to non-controlling interest 60 Net income attributable to NI Holdings, Inc. $ 4,689 Loss and LAE ratio 79.0% 93.8% 32.5% 52.7% 12.1% 54.0% Expense ratio 33.3% 27.1% 25.8% 77.4% 26.3% 30.5% Combined ratio 112.3% 120.8% 58.3% 130.1% 38.4% 84.5% Balances at March 31, 2017: Premiums receivable $ 14,212 $ 978 $ 7,208 $ — $ 1,058 $ 23,456 Deferred policy acquisition costs 3,334 282 5,582 — 483 9,681 Reinsurance recoverables 1,809 — 5,163 170 1,841 8,983 Receivable from Federal Crop Insurance Corporation — — — 13,009 — 13,009 Unpaid losses and LAE 26,118 6,245 14,680 1,696 8,757 57,496 Unearned premiums 23,354 1,572 30,585 — 4,223 59,734 For purposes of evaluating profitability of the non-standard auto segment, management combines the policy fees paid by the insured with the underwriting gain or loss as its primary measure. As a result, these fees are allocated to the non-standard auto segment (included in fee and other income) in the above tables. The remaining fee and other income amounts are not allocated to any segment. We do not assign or allocate all Consolidated Statement of Operations or Consolidated Balance Sheet line items to our operating segments. Those line items include investment income, net realized capital gain on investments, other income excluding non-standard auto insurance fees, and income taxes for the Consolidated Statement of Operations. For the Consolidated Balance Sheet, those items include cash and investments, property and equipment, other assets, accrued expenses, federal income taxes recoverable or payable, and equity.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	21. Subsequent Events We have evaluated subsequent events through May 4, 2018, the date these consolidated financial statements were available for issuance.

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates: In preparing our consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the balance sheet and revenues and expenses for the periods then ended. Actual results could differ significantly from those estimates. We make estimates and assumptions that can have a significant effect on amounts and disclosures we report in our consolidated financial statements. The most significant estimates relate to our reserves for unpaid losses and loss adjustment expenses, valuation of investments, determination of other-than-temporary impairments, valuation allowances for deferred income tax assets, and deferred policy acquisition costs. While we believe our estimates are appropriate, the ultimate amounts may differ from the estimates provided. We regularly review our methods for making these estimates as well as the continuing appropriateness of the estimated amounts, and we reflect any adjustment we consider necessary in our current results of operations.
Variable-Interest Entities	Variable-Interest Entities: Any company deemed to be a variable interest entity (“VIE”) is required to be consolidated by the primary beneficiary of the VIE. We assess our investments in other entities at inception to determine if any meet the qualifications of a VIE. We consider an investment in another company to be a VIE if (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support, (b) the characteristics of a controlling financial interest are missing (either the ability to make decisions through voting or other rights, the obligation to absorb expected losses of the entity or the right to receive the expected residual returns of the entity), or (c) the voting rights of the equity holders are not proportional to their obligations to absorb the expected losses of the entity and/or the rights to receive the expected residual returns of the entity, and substantially all of the entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights. Upon the occurrence of certain events, we would reassess our initial determination of whether the investment is a VIE. We evaluate whether we are the primary beneficiary of each VIE and we consolidate the VIE if we have both (1) the power to direct the economically significant activities of the entity and (2) the obligation to absorb losses of, or the right to receive benefits from, the entity. We consider the contractual agreements that define the ownership structure, distribution of profits and losses, risks, responsibilities, indebtedness, voting rights, and board representation of the respective parties in determining whether we qualify as the primary beneficiary. Our assessment of whether we are the primary beneficiary of a VIE is performed at least annually. We control Battle Creek via a 100% quota-share reinsurance agreement between Nodak Insurance and Battle Creek, as well as the ability to control a majority of the Board of Directors of Battle Creek. Through the effects of the 100% quota-share agreement with Battle Creek, we are considered the primary beneficiary of Battle Creek’s operating results excluding investment income, bad debt expense, and income taxes. Therefore, we consolidate the financial statements of Battle Creek, and Battle Creek’s policyholders’ interest in Battle Creek is reflected as a non-controlling interest in equity in our consolidated balance sheet.
Cash and Cash Equivalents	Cash and Cash Equivalents: Cash and cash equivalents include certain investments in highly liquid debt instruments with original maturities of three months or less. Cost approximates fair value for these short-term investments.
Investments	Investments: We have categorized our investment portfolio as “available-for-sale” and have reported the portfolio at fair value, with unrealized gains and losses, net of income taxes, reported in accumulated other comprehensive income. Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Amortization of premium and accretion of discount are computed using an effective interest method. Realized gains and losses are determined using the specific identification method and included in the determination of net income. Net investment income includes interest and dividend income together with amortization of purchase premiums and discounts, and is net of investment management and custody fees. We review our investments each quarter to determine whether a decline in fair value below the amortized cost basis is other than temporary. Accordingly, we assess whether we intend to sell or it is more likely than not that we will be required to sell a security before recovery of its amortized cost basis. For fixed income securities that are considered other-than-temporarily impaired and that we do not intend to sell and will not be required to sell prior to recovery of the amortized cost basis, we separate the amount of the impairment into the amount that is credit related (credit loss component) and the amount due to all other factors. The credit loss component is recognized in earnings and is the difference between the security’s amortized cost basis and the present value of its expected future cash flows discounted at the security’s effective yield. The remaining difference between the security’s fair value and the present value of future expected cash flows is due to factors that are not credit related and, therefore, is not required to be recognized as losses in the consolidated statement of operations, but is recognized in other comprehensive income. We classify each fair value measurement at the appropriate level in the fair value hierarchy. The hierarchy gives the highest priority to unadjusted quoted market price in active markets for identical assets or liabilities (Level I measurements) and the lowest priority to unobservable inputs (Level III measurements). An asset’s or liability’s classification within the fair value hierarchy is based on the lowest level of significant input to its valuation. Level I – Quoted price in active markets for identical assets and liabilities. Level II – Quoted prices in markets that are not active or inputs that are observable either directly or indirectly. Level II inputs include quoted prices for similar assets or liabilities other than quoted in prices in Level I, quoted prices in markets that are not active, or other inputs that are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level III – Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Unobservable inputs reflect the reporting entity’s own assumptions that market participants would use in pricing the asset or liability. Level III assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.
Fair Value of Other Financial Instruments	Fair Value of Other Financial Instruments: Our other financial instruments, aside from investments, are cash and cash equivalents, premiums and agents’ balances receivable, and accrued expenses and accounts payable. The carrying amounts for cash and cash equivalents, premiums and agents’ balances receivable, and accrued expenses and accounts payable approximate their fair value based on their short-term nature. Other invested assets that do not have observable inputs and little or no market activity are carried on a cost basis. The carrying value of these other invested assets was $1,954 at March 31, 2018 and $1,972 at December 31, 2017.
Reclassifications	Reclassifications: Certain amounts in the 2017 consolidated financial statements have been reclassified to conform to the 2018 presentation. This includes a change in the Company’s reportable segments that was made in the fourth quarter of the year ended December 31, 2017. The prior segments were non-standard auto, crop, and other property and casualty. The new segments used throughout this filing are private passenger auto, non-standard auto, home and farm, crop, and all other.
Revenue Recognition	Revenue Recognition: We record premiums written at policy inception and recognize them as revenue on a pro rata basis over the policy term or, in the case of crop insurance, over the period of risk. The portion of premiums that could be earned in the future is deferred and reported as unearned premiums. When policies lapse, the Company reverses the unearned portion of the written premium and removes the applicable unearned premium. Policy-related fee income is recognized when collected. The Company uses the direct write-off method for recognizing bad debts. Accounts are deemed to be delinquent after 60 days except for those accounts associated with amounts due from insureds for premiums, in which case policy cancellation procedures are commenced in accordance with state insurance regulations. Any earned but uncollected premiums are written off immediately upon the effective date of policy cancellation.
Policy Acquisition Costs	Policy Acquisition Costs: We defer our policy acquisition costs, consisting primarily of commissions, premium taxes and certain other underwriting costs, reduced by ceding commissions, which vary with and relate directly to the production of business. We amortize these deferred policy acquisition costs over the period in which we earn the premiums. The method we follow in computing deferred policy acquisition costs limits the amount of such deferred costs to their estimated realizable value, which gives effect to the premium to be earned, related investment income, losses and loss adjustment expenses, and certain other costs we expect to incur as we earn the premium.
Property and Equipment	Property and Equipment: We report property and equipment at cost less accumulated depreciation. Depreciation is computed using the straight-line method based upon the estimated useful lives of the assets.
Losses and Loss Adjustment Expenses	Losses and Loss Adjustment Expenses: Liabilities for unpaid losses and loss adjustment expenses are estimates at a given point in time of the amounts we expect to pay with respect to policyholder claims based on facts and circumstances then known. At the time of establishing our estimates, we recognize that our ultimate liability for losses and loss adjustment expenses will exceed or be less than such estimates. We base our estimates of liabilities for unpaid losses and loss adjustment expenses on assumptions as to future loss trends, expected claims severity, judicial theories of liability, and other factors. During the loss adjustment period, we may learn additional facts regarding certain claims, and, consequently, it often becomes necessary for us to refine and adjust our estimates of the liability. We reflect any adjustments to our liabilities for unpaid losses and loss adjustment expenses in our operating results in the period in which we determine the need for a change in the estimates. We maintain liabilities for unpaid losses and loss adjustment expenses with respect to both reported and unreported claims. We establish these liabilities for the purpose of covering the ultimate costs of settling all losses, including investigation and litigation costs. We base the amount of our liability for reported losses primarily upon a case-by-case evaluation of the type of risk involved, knowledge of the circumstances surrounding each claim, and the insurance policy provisions relating to the type of loss our policyholder incurred. We determine the amount of our liability for unreported losses and loss adjustment expenses on the basis of historical information by line of insurance. We account for inflation in the reserving function through analysis of costs and trends and reviews of historical reserving results. We closely monitor our liabilities and update them periodically using new information on reported claims and a variety of statistical techniques. We do not discount our liabilities for unpaid losses and loss adjustment expense. Reserve estimates can change over time because of unexpected changes in assumptions related to our external environment and, to a lesser extent, assumptions as to our internal operations. Assumptions related to our external environment include the absence of significant changes in tort law and the legal environment which may impact liability exposure, the trends in judicial interpretations of insurance coverage and policy provisions, and the rate of loss cost inflation. Internal assumptions include consistency in the recording of premium and loss statistics, consistency in the recording of claims, payment and case reserving methodologies, accurate measurement of the impact of rate changes and changes in policy provisions, consistency in the quality and characteristics of business written within a given line of business, and consistency in reinsurance coverage and collectability of reinsured losses, among other items. To the extent we determine that underlying factors impacting our assumptions have changed, we attempt to make appropriate adjustments for such changes in our reserves. Accordingly, our ultimate liability for unpaid losses and loss adjustment expenses will likely differ from the amount recorded.
Income Taxes	Income Taxes: With the exception of Battle Creek, which files a stand-alone federal income tax return, we currently file a consolidated federal income tax return. For the year ended December 31, 2016, the consolidated federal income tax return included Nodak Mutual Insurance Company and its owned subsidiaries. For the year ended December 31, 2017 and thereafter, the consolidated federal income tax return included and will include thereafter NI Holdings, Inc. and its owned subsidiaries. The Company reports tax-related interest and penalties, if any, as part of income tax expense in the year such amounts are determinable. We account for deferred income taxes using the asset and liability method. The objective of the asset and liability method is to establish deferred income tax assets and liabilities for the temporary differences between the financial reporting basis and the income tax basis of our assets and liabilities at enacted tax rates expected to be in effect when we realize or settle such amounts. Accounting guidance requires that companies re-measure existing deferred income tax assets (including loss carryforwards) and liabilities when a change in tax rate occurs, and record an offset for the net amount of the change as a component of income tax expense from continuing operations in the period of enactment. The guidance also requires any change to a previously recorded valuation allowance as a result of re-measuring existing temporary differences and loss carryforwards to be reflected as a component of income tax expense from continuing operations. The Company has elected to reclassify any tax effects stranded in accumulated other comprehensive income as a result of a change in income tax rates to retained earnings.
Credit Risk	Credit Risk: Our primary investment objective is to earn competitive returns by investing in a diversified portfolio of securities. Our portfolio of fixed income securities and, to a lesser extent, short-term investments, is subject to credit risk. We define this risk as the potential loss in fair value resulting from adverse changes in the borrower’s ability to repay the debt. We manage this risk by performing an analysis of prospective investments and through regular reviews of our portfolio by our investment staff and advisors. We also limit the amount of our total investment portfolio that we invest in any one security. Property and liability insurance coverages are marketed through captive agents in North Dakota and through independent insurance agencies located throughout all operating areas. All business is billed directly to policyholders. We maintain cash balances primarily at one bank, which are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250. During the normal course of business, balances are maintained above the FDIC insurance limit. The Company maintains short-term investment balances in investment grade money market accounts that are insured by the Securities Investor Protection Corporation (“SIPC”) up to $500. On occasion, balances for these accounts are maintained in excess of the SIPC insurance limit.
Reinsurance	Reinsurance: The Company limits the maximum net loss that can arise from large risks or risks in concentrated areas of exposure by reinsuring (ceding) certain levels of risks to other insurers or reinsurers, either on an automatic basis under general reinsurance contracts knows as “treaties” or by negotiation on substantial individual risks. Ceded reinsurance is treated as the risk and liability of the assuming companies. Reinsurance contracts do not relieve the Company from its obligations to policyholders. In the event that all or any of the reinsuring companies might be unable to meet their obligations under existing reinsurance agreements, the Company would be liable for such defaulted amounts.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets: Goodwill represents the excess of the purchase price over the underlying fair value of acquired entities. When completing acquisitions, we seek also to identify separately identifiable intangible assets that we have acquired. We assess goodwill and intangible assets with an indefinite useful life for impairment annually. We also assess goodwill and other intangible assets for impairment upon the occurrence of certain events. In making our assessment, we consider a number of factors including operating results, business plans, economic projections, anticipated future cash flows, and current market data. Inherent uncertainties exist with respect to these factors and to our judgment in applying them when we make our assessment. Impairment of goodwill and other intangible assets could result from changes in economic and operating conditions in future periods. We did not record any impairments of goodwill or other intangible assets during the three months ended March 31, 2018 and 2017. Goodwill arising from the acquisition of Primero in 2014 represents the excess of the purchase price over the fair value of the net assets acquired, and is reported separately in the Consolidated Balance Sheet. The purchase price in excess of the fair value of net assets acquired was negotiated at arms-length with an unrelated party and was based upon the strategic decision by Company management to expand both the geographic footprint and product lines of the Company. The nature of the business acquired was such that there were limited intangible assets not reflected in the net assets acquired. The purchase price was paid with a combination of cash and cancellation of obligations owed to the acquired company by the sellers. The goodwill which arose from this transaction is included in the basis of the net assets acquired and is not deductible for income tax purposes.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2018
Marketable Securities [Abstract]
Schedule of amortized cost and estimated fair value of securities	The amortized cost and estimated fair value of investment securities as of March 31, 2018 and December 31, 2017, were as follows: March 31, 2018 Cost or Amortized Gross Unrealized Gross Unrealized Fair Value Fixed income securities: U.S. Government and agencies $ 12,488 $ 151 $ (170 ) $ 12,469 Obligations of states and political subdivisions 73,180 531 (881 ) 72,830 Corporate securities 90,866 434 (1,242 ) 90,058 Residential mortgage-backed securities 33,610 21 (666 ) 32,965 Commercial mortgage-backed securities 13,073 7 (249 ) 12,831 Asset-backed securities 17,514 — (187 ) 17,327 Total fixed income securities 240,731 1,144 (3,395 ) 238,480 Equity securities: Basic materials 1,158 74 (5 ) 1,227 Communications 3,011 1,487 (169 ) 4,329 Consumer, cyclical 5,356 3,694 (130 ) 8,920 Consumer, non-cyclical 7,348 4,468 (386 ) 11,430 Energy 2,223 290 (329 ) 2,184 Financial 2,043 345 (30 ) 2,358 Industrial 4,436 3,795 (10 ) 8,221 Technology 4,419 5,254 (254 ) 9,419 Total equity securities 29,994 19,407 (1,313 ) 48,088 Total investments $ 270,725 $ 20,551 $ (4,708 ) $ 286,568 December 31, 2017 Cost or Amortized Gross Unrealized Gross Unrealized Fair Value Fixed income securities: U.S. Government and agencies $ 9,531 $ 175 $ (57 ) $ 9,649 Obligations of states and political subdivisions 81,741 1,171 (317 ) 82,595 Corporate securities 88,474 1,197 (220 ) 89,451 Residential mortgage-backed securities 28,557 124 (157 ) 28,524 Commercial mortgage-backed securities 11,228 61 (119 ) 11,170 Asset-backed securities 15,447 10 (88 ) 15,369 Total fixed income securities 234,978 2,738 (958 ) 236,758 Equity securities: Basic materials 768 124 — 892 Communications 3,027 1,449 (154 ) 4,322 Consumer, cyclical 5,303 4,156 (120 ) 9,339 Consumer, non-cyclical 7,090 3,940 (125 ) 10,905 Energy 2,003 272 (44 ) 2,231 Financial 2,007 410 — 2,417 Industrial 5,038 4,167 — 9,205 Technology 3,792 4,668 (210 ) 8,250 Total equity securities 29,028 19,186 (653 ) 47,561 Total investments $ 264,006 $ 21,924 $ (1,611 ) $ 284,319
Schedule of amortized cost and fair value of fixed income securities by contractual maturity	The amortized cost and estimated fair value of fixed income securities by contractual maturity are shown below. Actual maturities could differ from contractual maturities because issuers of the securities may have the right to call or prepay certain obligations, which may or may not include call or prepayment penalties. March 31, 2018 Amortized Cost Fair Value Due to mature: One year or less $ 11,261 $ 11,261 After one year through five years 90,133 89,904 After five years through ten years 65,059 64,340 After ten years 10,081 9,852 Mortgage / asset-backed securities 64,197 63,123 Total fixed income securities $ 240,731 $ 238,480 December 31, 2017 Amortized Cost Fair Value Due to mature: One year or less $ 12,761 $ 12,766 After one year through five years 86,830 87,642 After five years through ten years 69,586 70,680 After ten years 10,569 10,607 Mortgage / asset-backed securities 55,232 55,063 Total fixed income securities $ 234,978 $ 236,758
Schedule of unrealized loss of securities	The investment category and duration of the Company’s gross unrealized losses on fixed income securities and equity securities were as follows: March 31, 2018 Less than 12 Months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: U.S. Government and agencies $ 7,829 $ (168 ) $ 497 $ (2 ) $ 8,326 $ (170 ) Obligations of states and political subdivisions 37,807 (715 ) 3,479 (166 ) 41,286 (881 ) Corporate securities 62,866 (1,228 ) 586 (14 ) 63,452 (1,242 ) Residential mortgage-backed securities 22,777 (409 ) 6,861 (257 ) 29,638 (666 ) Commercial mortgage-backed securities 9,701 (168 ) 1,616 (81 ) 11,317 (249 ) Asset-backed securities 15,894 (175 ) 751 (12 ) 16,645 (187 ) Total fixed income securities 156,874 (2,863 ) 13,790 (532 ) 170,664 (3,395 ) Equity securities: Basic materials 413 (5 ) — — 413 (5 ) Communications 885 (82 ) 127 (87 ) 1,012 (169 ) Consumer, cyclical 893 (130 ) — — 893 (130 ) Consumer, non-cyclical 3,470 (386 ) — — 3,470 (386 ) Energy 1,015 (329 ) — — 1,015 (329 ) Financial 796 (30 ) — — 796 (30 ) Industrial 393 (10 ) — — 393 (10 ) Technology 1,272 (186 ) 174 (68 ) 1,446 (254 ) Total equity securities 9,137 (1,158 ) 301 (155 ) 9,438 (1,313 ) Total investments $ 166,011 $ (4,021 ) $ 14,091 $ (687 ) $ 180,102 $ (4,708 ) December 31, 2017 Less than 12 Months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: U.S. Government and agencies $ 6,442 $ (54 ) $ 497 $ (3 ) $ 6,939 $ (57 ) Obligations of states and political subdivisions 28,219 (251 ) 3,593 (66 ) 31,812 (317 ) Corporate securities 39,025 (201 ) 1,195 (19 ) 40,220 (220 ) Residential mortgage-backed securities 7,573 (40 ) 7,248 (117 ) 14,821 (157 ) Commercial mortgage-backed securities 4,652 (64 ) 1,643 (55 ) 6,295 (119 ) Asset-backed securities 13,386 (80 ) 781 (8 ) 14,167 (88 ) Total fixed income securities 99,297 (690 ) 14,957 (268 ) 114,254 (958 ) Equity securities: Communications 840 (48 ) 107 (106 ) 947 (154 ) Consumer, cyclical 898 (116 ) 214 (4 ) 1,112 (120 ) Consumer, non-cyclical 1,894 (125 ) — — 1,894 (125 ) Energy 243 (44 ) — — 243 (44 ) Technology 634 (120 ) 152 (90 ) 786 (210 ) Total equity securities 4,509 (453 ) 473 (200 ) 4,982 (653 ) Total investments $ 103,806 $ (1,143 ) $ 15,430 $ (468 ) $ 119,236 $ (1,611 )
Schedule of net investment income	Net investment income consisted of the following: Three Months Ended March 31, 2018 2017 Fixed income securities $ 1,599 $ 1,331 Equity securities 229 70 Real estate 91 86 Cash and cash equivalents 19 10 Total gross investment income 1,938 1,497 Investment expenses 569 498 Net investment income $ 1,369 $ 999
Schedule of net realized gain (loss) on investments	Net realized capital gain on investments consisted of the following: Three Months Ended March 31, 2018 2017 Gross realized gains $ 569 $ 628 Gross realized losses, excluding other-than-temporary impairment losses (100 ) (12 ) Other-than-temporary impairment losses — — Net realized capital gain on investments $ 469 $ 616

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Investments, All Other Investments [Abstract]
Schedule of Financial Instruments at Fair Value Measured on a Recurring Basis	The following tables set forth our assets which are measured on a recurring basis by the level within the fair value hierarchy in which fair value measurements fall: March 31, 2018 Total Level I Level II Level III Fixed income securities: U.S. Government and agencies $ 12,469 $ — $ 12,469 $ — Obligations of states and political subdivisions 72,830 — 72,830 — Corporate securities 90,058 — 90,058 — Residential mortgage-backed securities 32,965 — 32,965 — Commercial mortgage-backed securities 12,831 — 12,831 — Asset-backed securities 17,327 — 17,327 — Total fixed income securities 238,480 — 238,480 — Equity securities: Basic materials 1,227 1,227 — — Communications 4,329 4,329 — — Consumer, cyclical 8,920 8,920 — — Consumer, non-cyclical 11,430 11,430 — — Energy 2,184 2,184 — — Financial 2,358 2,358 — — Industrial 8,221 8,221 — — Technology 9,419 9,419 — — Total equity securities 48,088 48,088 — — Cash and cash equivalents 25,209 25,209 — — Total assets at fair value $ 311,777 $ 73,297 $ 238,480 $ — December 31, 2017 Total Level I Level II Level III Fixed income securities: U.S. Government and agencies $ 9,649 $ — $ 9,649 $ — Obligations of states and political subdivisions 82,595 — 82,595 — Corporate securities 89,451 — 89,451 — Residential mortgage-backed securities 28,524 — 28,524 — Commercial mortgage-backed securities 11,170 — 11,170 — Asset-backed securities 15,369 — 15,369 — Total fixed income securities 236,758 — 236,758 — Equity securities: Basic materials 892 892 — — Communications 4,322 4,322 — — Consumer, cyclical 9,339 9,339 — — Consumer, non-cyclical 10,905 10,905 — — Energy 2,231 2,231 — — Financial 2,417 2,417 — — Industrial 9,205 9,205 — — Technology 8,250 8,250 — — Total equity securities 47,561 47,561 — — Cash and cash equivalents 27,594 27,594 — — Total assets at fair value $ 311,913 $ 75,155 $ 236,758 $ —

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2018
Reinsurance Disclosures [Abstract]
Schedule of reconciliation of direct to net premiums on both a written and an earned basis	A reconciliation of direct to net premiums on both a written and an earned basis is as follows: Three Months Ended March 31, 2018 Premiums Written Premiums Earned Direct premium $ 39,274 $ 37,192 Assumed premium 1,283 1,239 Ceded premium (2,319 ) (2,319 ) Net premiums $ 38,238 $ 36,112 Percentage of assumed earned premium to net earned premium 3.4% Three Months Ended March 31, 2017 Premiums Written Premiums Earned Direct premium $ 36,380 $ 34,116 Assumed premium 1,195 1,171 Ceded premium (2,478 ) (2,478 ) Net premiums $ 35,097 $ 32,809 Percentage of assumed earned premium to net earned premium 3.6%
Schedule of reconciliation of direct to net losses and loss adjustment expenses	A reconciliation of direct to net losses and loss adjustment expenses is as follows: Three Months Ended March 31, 2018 2017 Direct losses and loss adjustment expenses $ 18,637 $ 19,642 Assumed losses and loss adjustment expenses 589 588 Ceded losses and loss adjustment expenses (377 ) (2,509 ) Net losses and loss adjustment expenses $ 18,849 $ 17,721

Deferred Policy Acquisition C34

Deferred Policy Acquisition Costs (Tables)	3 Months Ended
	Mar. 31, 2018
Reinsurance Disclosures [Abstract]
Schedule of deferred policy acquisition costs	Activity with regards to our deferred policy acquisition costs was as follows: Three Months Ended March 31, 2018 2017 Balance, beginning of period $ 8,859 $ 8,942 Deferral of policy acquisition costs 7,160 5,748 Amortization of deferred policy acquisition costs (7,039 ) (5,009 ) Balance, end of period $ 8,980 $ 9,681

Unpaid Losses and Loss Adjust35

Unpaid Losses and Loss Adjustment Expenses (Tables)	3 Months Ended
	Mar. 31, 2018
Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract]
Schedule of Activity in the liability for unpaid losses and loss adjustment expenses	Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows: Three Months Ended March 31, 2018 2017 Balance at beginning of period: Liability for unpaid losses and loss adjustment expense $ 45,890 $ 59,632 Reinsurance recoverables on losses 4,128 7,192 Net balance at beginning of period 41,762 52,440 Incurred related to: Current year 18,773 20,520 Prior years 76 (2,799 ) Total incurred 18,849 17,721 Paid related to: Current year 8,740 7,516 Prior years 11,138 14,132 Total paid 19,878 21,648 Balance at end of period: Liability for unpaid losses and loss adjustment expense 43,863 57,496 Reinsurance recoverables on losses 3,130 8,983 Net balance at end of period $ 40,733 $ 48,513

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2018
Reinsurance Disclosures [Abstract]
Schedule of Property and equipment	Property and equipment consisted of the following: March 31, 2018 December 31, 2017 Estimated Useful Life Cost: Real estate $ 10,740 $ 10,633 10 - 31 years Electronic data processing equipment 1,301 1,288 5-7 years Furniture and fixtures 3,532 3,511 5-7 years Automobiles 1,595 1,595 2-3 years Gross cost 17,168 17,027 Accumulated depreciation (11,289 ) (11,150 ) Total property and equipment, net $ 5,879 $ 5,877

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Schedule of illustrates the impact of consolidating Battle Creek into our consolidated balance sheets prior to intercompany eliminations	The following table illustrates the impact of including Battle Creek in our Consolidated Balance Sheets prior to intercompany eliminations: March 31, 2018 December 31, 2017 Assets: Cash and cash equivalents (overdraft) $ 489 $ (726 ) Investments 4,326 4,364 Premiums and agents’ balances receivable 3,929 4,055 Reinsurance recoverables on losses (1) 20,836 20,932 Accrued investment income 33 29 Deferred income tax asset, net 398 389 Property and equipment 365 370 Other assets 52 54 Total assets $ 30,428 $ 29,467 Liabilities: Unpaid losses and loss adjustment expenses $ 7,730 $ 7,995 Unearned premiums 13,107 12,937 Notes payable (1) 3,000 3,000 Reinsurance payable (1) 2,619 965 Accrued expenses and other liabilities 829 1,392 Total liabilities 27,285 26,289 Equity: Non-controlling interest 3,143 3,178 Total equity 3,143 3,178 Total liabilities and equity $ 30,428 $ 29,467 (1) Amount eliminated in consolidation.

Common Stock (Tables)

Common Stock (Tables)	3 Months Ended
	Mar. 31, 2018
Common Stock Tables
Schedule of number of common stock shares	Changes in the number of common stock shares outstanding are as follows: Three Months Ended March 31, 2018 2017 Shares outstanding, beginning of period 22,337,644 — Initial public offering — 23,000,000 Shares repurchased related to employee stock ownership plan — (240,000 ) Issuance of treasury shares related to restricted stock unit awards 15,200 — Shares outstanding, end of period 22,352,844 22,760,000 Note: Shares were not available prior to the Company’s initial public offering in March 2017.

Stock Based Compensation (Table

Stock Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Restricted Stock Outstanding	A summary of the Company’s outstanding RSUs for the three months ended March 31, 2018, is presented below: Shares Weighted- Fair Value Units outstanding at December 31, 2017 65,500 $ 17.31 Grants 32,500 16.25 Vested (19,200 ) 17.31 Units outstanding at March 31, 2018 78,800 $ 16.97
Schedule of RSU activity	The following table shows a summary of RSU activity: Three Months Ended March 31, 2018 2017 RSU compensation expense $ 434 $ — Income tax benefit (91 ) — RSU compensation expense, net of income taxes $ 343 n/a Note: Share-based compensation was not available prior to the Company’s initial public offering in March 2017.
Schedule of Performance Stock Outstanding	A summary of the Company’s outstanding RSUs for the three months ended March 31, 2018, is presented below: Shares Weighted- Fair Value Units outstanding at December 31, 2017 65,500 $ 17.31 Grants 32,500 16.25 Vested (19,200 ) 17.31 Units outstanding at March 31, 2018 78,800 $ 16.97
Schedule of PSU activity	The following table shows a summary of RSU activity: Three Months Ended March 31, 2018 2017 RSU compensation expense $ 434 $ — Income tax benefit (91 ) — RSU compensation expense, net of income taxes $ 343 $ n/a Note: Share-based compensation was not available prior to the Company’s initial public offering in March 2017.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of reconciliation of the numerators and denominators we used in the basic and diluted per share	The following table presents a reconciliation of the numerators and denominators we used in the basic and diluted per share computations for our common stock: Three Months Ended March 31, 2018 2017 Basic earnings per common share: Numerator: Net income attributable to NI Holdings, Inc. $ 6,122 $ 4,689 Denominator: Weighted average shares outstanding 22,361,757 22,760,000 Basic earnings per common share $ 0.27 $ 0.21 Diluted earnings per common share: Numerator: Net income attributable to NI Holdings, Inc. $ 6,122 $ 4,689 Denominator: Number of shares used in basic computation 22,361,757 22,760,000 Weighted average effect of dilutive securities Add: Restricted stock units and performance share units 12,299 — Number of shares used in per share computations 22,374,056 22,760,000 Diluted earnings per common share $ 0.27 $ 0.21

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of revenue by insurance product line	The following tables provide available information of these segments for the three months ended March 31, 2018 and 2017. Prior years have been restated to reflect the change in segments. For presentation in these tables, “LAE” refers to loss adjustment expenses. Three Months Ended March 31, 2018 Private Non- Home and Crop All Other Total Direct premiums earned $ 15,580 $ 2,991 $ 16,620 $ (1 ) $ 2,002 $ 37,192 Assumed premiums earned 4 — (5 ) — 1,240 1,239 Ceded premiums earned (759 ) — (1,497 ) 102 (165 ) (2,319 ) Net premiums earned 14,825 2,991 15,118 101 3,077 36,112 Direct losses and LAE 10,187 1,964 5,416 339 731 18,637 Assumed losses and LAE — — 13 — 576 589 Ceded losses and LAE (65 ) — (107 ) (24 ) (181 ) (377 ) Net losses and LAE 10,122 1,964 5,322 315 1,126 18,849 Gross margin 4,703 1,027 9,796 (214 ) 1,951 17,263 Underwriting and general expenses 4,419 1,036 4,954 488 980 11,877 Underwriting gain (loss) 284 (9 ) 4,842 (702 ) 971 5,386 Fee and other income 322 377 313 Net investment income 1,369 Net realized capital gain on investments 469 Income before income taxes 7,601 Income taxes 1,449 Net income 6,152 Net income attributable to non-controlling interest 30 Net income attributable to NI Holdings, Inc. $ 6,122 Loss and LAE ratio 68.3% 65.7% 35.2% 311.9% 36.6% 52.2% Expense ratio 29.8% 34.6% 32.8% 483.2% 31.8% 32.9% Combined ratio 98.1% 100.3% 68.0% 795.0% 68.4% 85.1% Balances at March 31, 2018: Premiums receivable $ 16,043 $ 1,251 $ 8,393 $ — $ 1,281 $ 26,968 Deferred policy acquisition costs 3,481 343 4,634 — 522 8,980 Reinsurance recoverables 383 — 713 19 2,015 3,130 Receivable from Federal Crop Insurance Corporation — — — 9,735 — 9,735 Unpaid losses and LAE 17,824 5,339 10,124 160 10,416 43,863 Unearned premiums 25,380 1,981 33,528 — 4,499 65,388 Three Months Ended March 31, 2017 Private Non- Home and Crop All Other Total Direct premiums earned $ 13,599 $ 2,531 $ 15,072 $ 1,026 $ 1,888 $ 34,116 Assumed premiums earned 4 — 1 2 1,164 1,171 Ceded premiums earned (959 ) — (1,435 ) 72 (156 ) (2,478 ) Net premiums earned 12,644 2,531 13,638 1,100 2,896 32,809 Direct losses and LAE 10,029 2,373 5,286 532 1,422 19,642 Assumed losses and LAE 271 — — — 317 588 Ceded losses and LAE (313 ) — (854 ) 48 (1,390 ) (2,509 ) Net losses and LAE 9,987 2,373 4,432 580 349 17,721 Gross margin 2,657 158 9,206 520 2,547 15,088 Underwriting and general expenses 4,207 685 3,513 851 763 10,019 Underwriting gain (loss) (1,550 ) (527 ) 5,693 (331 ) 1,784 5,069 Fee and other income 264 347 (263 ) Net investment income 999 Net realized capital gain on investments 616 Income before income taxes 7,031 Income taxes 2,282 Net income 4,749 Net income attributable to non-controlling interest 60 Net income attributable to NI Holdings, Inc. $ 4,689 Loss and LAE ratio 79.0% 93.8% 32.5% 52.7% 12.1% 54.0% Expense ratio 33.3% 27.1% 25.8% 77.4% 26.3% 30.5% Combined ratio 112.3% 120.8% 58.3% 130.1% 38.4% 84.5% Balances at March 31, 2017: Premiums receivable $ 14,212 $ 978 $ 7,208 $ — $ 1,058 $ 23,456 Deferred policy acquisition costs 3,334 282 5,582 — 483 9,681 Reinsurance recoverables 1,809 — 5,163 170 1,841 8,983 Receivable from Federal Crop Insurance Corporation — — — 13,009 — 13,009 Unpaid losses and LAE 26,118 6,245 14,680 1,696 8,757 57,496 Unearned premiums 23,354 1,572 30,585 — 4,223 59,734

Organization (Details)

Organization (Details) - Nodak Insurance [Member]	3 Months Ended
	Mar. 31, 2018
Percentage of shares exchanged	55.00%
Percentage of quota share agreement	100.00%

Summary of Significant Accoun43

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Other invested assets	$ 1,954	$ 1,972
Federal Deposit Insurance Corporation amount	250
Short-term investment balances in investment that are insured by SIPC	$ 500
Nodak Insurance [Member]
Ownership percentage	100.00%
Battle Creek [Member]
Ownership percentage	100.00%

Recent Accounting Pronounceme44

Recent Accounting Pronouncements (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Recent Accounting Pronouncements Narrative Details
Income tax effects from accumulated other comprehensive income to retained earnings	$ 2,717

Investments (Narrative) (Detail

Investments (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Investments [Abstract]
Fixed income securities with a fair value	$ 3,422	$ 3,493
Percentage of fixed maturities amortized cost values	80.00%
Fixed income securities [Member]
Investments [Abstract]
Number of securities	289	196

Investments (Schedule of amorti

Investments (Schedule of amortized cost and estimated fair value of investment securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Cost or Amortized Cost	$ 270,725	$ 264,006
Gross Unrealized Gains	20,551	21,924
Gross Unrealized Losses	(4,708)	(1,611)
Fair Value	286,568	284,319
Fixed income securities [Member]
Cost or Amortized Cost	240,731	234,978
Gross Unrealized Gains	1,144	2,738
Gross Unrealized Losses	(3,395)	(958)
Fair Value	238,480	236,758
Fixed income securities [Member] | U.S. Government and agencies [Member]
Cost or Amortized Cost	12,488	9,531
Gross Unrealized Gains	151	175
Gross Unrealized Losses	(170)	(57)
Fair Value	12,469	9,649
Fixed income securities [Member] | Obligations of states and political subdivisions [Member]
Cost or Amortized Cost	73,180	81,741
Gross Unrealized Gains	531	1,171
Gross Unrealized Losses	(881)	(317)
Fair Value	72,830	82,595
Fixed income securities [Member] | Corporate securities [Member]
Cost or Amortized Cost	90,866	88,474
Gross Unrealized Gains	434	1,197
Gross Unrealized Losses	(1,242)	(220)
Fair Value	90,058	89,451
Fixed income securities [Member] | Residential mortgage-backed securities [Member]
Cost or Amortized Cost	33,610	28,557
Gross Unrealized Gains	21	124
Gross Unrealized Losses	(666)	(157)
Fair Value	32,965	28,524
Fixed income securities [Member] | Commercial mortgage-backed securities [Member]
Cost or Amortized Cost	13,073	11,228
Gross Unrealized Gains	7	61
Gross Unrealized Losses	(249)	(119)
Fair Value	12,831	11,170
Fixed income securities [Member] | Asset backed securities [Member]
Cost or Amortized Cost	17,514	15,447
Gross Unrealized Gains		10
Gross Unrealized Losses	(187)	(88)
Fair Value	17,327	15,369
Equity Securities [Member]
Cost or Amortized Cost	29,994	29,028
Gross Unrealized Gains	19,407	19,186
Gross Unrealized Losses	(1,313)	(653)
Fair Value	48,088	47,561
Equity Securities [Member] | Basic materials [Member]
Cost or Amortized Cost	1,158	768
Gross Unrealized Gains	74	124
Gross Unrealized Losses	(5)
Fair Value	1,227	892
Equity Securities [Member] | Communications [Member]
Cost or Amortized Cost	3,011	3,027
Gross Unrealized Gains	1,487	1,449
Gross Unrealized Losses	(169)	(154)
Fair Value	4,329	4,322
Equity Securities [Member] | Consumer, cyclical [Member]
Cost or Amortized Cost	5,356	5,303
Gross Unrealized Gains	3,694	4,156
Gross Unrealized Losses	(130)	(120)
Fair Value	8,920	9,339
Equity Securities [Member] | Consumer, non-cyclical [Member]
Cost or Amortized Cost	7,348	7,090
Gross Unrealized Gains	4,468	3,940
Gross Unrealized Losses	(386)	(125)
Fair Value	11,430	10,905
Equity Securities [Member] | Energy [Member]
Cost or Amortized Cost	2,223	2,003
Gross Unrealized Gains	290	272
Gross Unrealized Losses	(329)	(44)
Fair Value	2,184	2,231
Equity Securities [Member] | Financial [Member]
Cost or Amortized Cost	2,043	2,007
Gross Unrealized Gains	345	410
Gross Unrealized Losses	(30)
Fair Value	2,358	2,417
Equity Securities [Member] | Industrial [Member]
Cost or Amortized Cost	4,436	5,038
Gross Unrealized Gains	3,795	4,167
Gross Unrealized Losses	(10)
Fair Value	8,221	9,205
Equity Securities [Member] | Technology [Member]
Cost or Amortized Cost	4,419	3,792
Gross Unrealized Gains	5,254	4,668
Gross Unrealized Losses	(254)	(210)
Fair Value	$ 9,419	$ 8,250

Investments (Schedule of Fixed

Investments (Schedule of Fixed Maturities) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Marketable Securities [Abstract]
Amortized Cost, Due to mature One year or less	$ 11,261	$ 12,761
Amortized Cost, Due to mature After one year through five years	90,133	86,830
Amortized Cost, Due to mature After five years through ten years	65,059	69,586
Amortized Cost, Due to mature After ten years	10,081	10,569
Amortized Cost, Due to mature Mortgage/asset-backed securities	64,197	55,232
Available-for-sale Securities, Debt Maturities, Amortized Cost	240,731	234,978
Fair Value, Due to mature One year or less	11,261	12,766
Fair Value, Due to mature After one year through five years	89,904	87,642
Fair Value, Due to mature After five years through ten years	64,340	70,680
Fair Value, Due to mature After ten years	9,852	10,607
Fair Value, Due to mature Mortgage/asset-backed securities	63,123	55,063
Available-for-sale Securities, Debt Securities, Estimated Fair Value	$ 238,480	$ 236,758

Investments (Schedule of aggreg

Investments (Schedule of aggregate fair value and unrealized loss) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Less than 12 months Fair Value	$ 166,011	$ 103,806
Less than 12 months Unrealized Losses	(4,021)	(1,143)
Greater than 12 months Fair Value	14,091	15,430
Greater than 12 months Unrealized Losses	(687)	(468)
Fair Value, Total	180,102	119,236
Unrealized Losses, Total	(4,708)	(1,611)
Fixed income securities [Member]
Less than 12 months Fair Value	156,874	99,297
Less than 12 months Unrealized Losses	(2,863)	(690)
Greater than 12 months Fair Value	13,790	14,957
Greater than 12 months Unrealized Losses	(532)	(268)
Fair Value, Total	170,664	114,254
Unrealized Losses, Total	(3,395)	(958)
Fixed income securities [Member] | U.S. Government and agencies [Member]
Less than 12 months Fair Value	7,829	6,442
Less than 12 months Unrealized Losses	(168)	(54)
Greater than 12 months Fair Value	497	497
Greater than 12 months Unrealized Losses	(2)	(3)
Fair Value, Total	8,326	6,939
Unrealized Losses, Total	(170)	(57)
Fixed income securities [Member] | Obligations of states and political subdivisions [Member]
Less than 12 months Fair Value	37,807	28,219
Less than 12 months Unrealized Losses	(715)	(251)
Greater than 12 months Fair Value	3,479	3,593
Greater than 12 months Unrealized Losses	(166)	(66)
Fair Value, Total	41,286	31,812
Unrealized Losses, Total	(881)	(317)
Fixed income securities [Member] | Corporate securities [Member]
Less than 12 months Fair Value	62,866	39,025
Less than 12 months Unrealized Losses	(1,228)	(201)
Greater than 12 months Fair Value	586	1,195
Greater than 12 months Unrealized Losses	(14)	(19)
Fair Value, Total	63,452	40,220
Unrealized Losses, Total	(1,242)	(220)
Fixed income securities [Member] | Residential mortgage-backed securities [Member]
Less than 12 months Fair Value	22,777	7,573
Less than 12 months Unrealized Losses	(409)	(40)
Greater than 12 months Fair Value	6,861	7,248
Greater than 12 months Unrealized Losses	(257)	(117)
Fair Value, Total	29,638	14,821
Unrealized Losses, Total	(666)	(157)
Fixed income securities [Member] | Commercial mortgage-backed securities [Member]
Less than 12 months Fair Value	9,701	4,652
Less than 12 months Unrealized Losses	(168)	(64)
Greater than 12 months Fair Value	1,616	1,643
Greater than 12 months Unrealized Losses	(81)	(55)
Fair Value, Total	11,317	6,295
Unrealized Losses, Total	(249)	(119)
Fixed income securities [Member] | Asset backed securities [Member]
Less than 12 months Fair Value	15,894	13,386
Less than 12 months Unrealized Losses	(175)	(80)
Greater than 12 months Fair Value	751	781
Greater than 12 months Unrealized Losses	(12)	(8)
Fair Value, Total	16,645	14,167
Unrealized Losses, Total	(187)	(88)
Equity Securities [Member]
Less than 12 months Fair Value	9,137	4,509
Less than 12 months Unrealized Losses	(1,158)	(453)
Greater than 12 months Fair Value	301	473
Greater than 12 months Unrealized Losses	(155)	(200)
Fair Value, Total	9,438	4,982
Unrealized Losses, Total	(1,313)	(653)
Equity Securities [Member] | Basic materials [Member]
Less than 12 months Fair Value	413
Less than 12 months Unrealized Losses	(5)
Greater than 12 months Fair Value
Greater than 12 months Unrealized Losses
Fair Value, Total	413
Unrealized Losses, Total	(5)
Equity Securities [Member] | Communications [Member]
Less than 12 months Fair Value	885	840
Less than 12 months Unrealized Losses	(82)	(48)
Greater than 12 months Fair Value	127	107
Greater than 12 months Unrealized Losses	(87)	(106)
Fair Value, Total	1,012	947
Unrealized Losses, Total	(169)	(154)
Equity Securities [Member] | Consumer, cyclical [Member]
Less than 12 months Fair Value	893	898
Less than 12 months Unrealized Losses	(130)	(116)
Greater than 12 months Fair Value		214
Greater than 12 months Unrealized Losses		(4)
Fair Value, Total	893	1,112
Unrealized Losses, Total	(130)	(120)
Equity Securities [Member] | Consumer, non-cyclical [Member]
Less than 12 months Fair Value	3,470	1,894
Less than 12 months Unrealized Losses	(386)	(125)
Greater than 12 months Fair Value
Greater than 12 months Unrealized Losses
Fair Value, Total	3,470	1,894
Unrealized Losses, Total	(386)	(125)
Equity Securities [Member] | Energy [Member]
Less than 12 months Fair Value	1,015	243
Less than 12 months Unrealized Losses	(329)	(44)
Greater than 12 months Fair Value
Greater than 12 months Unrealized Losses
Fair Value, Total	1,015	243
Unrealized Losses, Total	(329)	(44)
Equity Securities [Member] | Financial [Member]
Less than 12 months Fair Value	796
Less than 12 months Unrealized Losses	(30)
Greater than 12 months Fair Value
Greater than 12 months Unrealized Losses
Fair Value, Total	796
Unrealized Losses, Total	(30)
Equity Securities [Member] | Industrial [Member]
Less than 12 months Fair Value	393
Less than 12 months Unrealized Losses	(10)
Greater than 12 months Fair Value
Greater than 12 months Unrealized Losses
Fair Value, Total	393
Unrealized Losses, Total	(10)
Equity Securities [Member] | Technology [Member]
Less than 12 months Fair Value	1,272	634
Less than 12 months Unrealized Losses	(186)	(120)
Greater than 12 months Fair Value	174	152
Greater than 12 months Unrealized Losses	(68)	(90)
Fair Value, Total	1,446	786
Unrealized Losses, Total	$ (254)	$ (210)

Investments (Schedule of Net In

Investments (Schedule of Net Investment Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Total gross investment income	$ 1,938	$ 1,497
Investment expenses	569	498
Net investment income	1,369	999
Fixed income securities [Member]
Total gross investment income	1,599	1,331
Equity Securities [Member]
Total gross investment income	229	70
Real estate [Member]
Total gross investment income	91	86
Cash and Cash Equivalents [Member]
Total gross investment income	$ 19	$ 10

Investments (Schedule of compon

Investments (Schedule of components of Net realized capital gains on investments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Marketable Securities [Abstract]
Gross realized gains	$ 569	$ 628
Gross realized losses, excluding other-than-temporary impairment losses	(100)	(12)
Other-than-temporary impairment losses
Net realized capital gains on investments	$ 469	$ 616

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of assets, which are measured on a recurring basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Total fixed income securities	$ 238,480	$ 236,758
Total equity securities	48,088	47,561
Cash and cash equivalents	25,209	27,594	$ 106,302	$ 18,318
Total assets at fair value	311,777	311,913
U.S. Government and agencies [Member]
Total fixed income securities	12,469	9,649
Obligations of states and political subdivisions [Member]
Total fixed income securities	72,830	82,595
Corporate securities [Member]
Total fixed income securities	90,058	89,451
Residential mortgage-backed securities [Member]
Total fixed income securities	32,965	28,524
Commercial mortgage-backed securities [Member]
Total fixed income securities	12,831	11,170
Asset backed securities [Member]
Total fixed income securities	17,327	15,369
Basic materials [Member]
Total equity securities	1,227	892
Communications [Member]
Total equity securities	4,329	4,322
Consumer, cyclical [Member]
Total equity securities	8,920	9,339
Consumer, non-cyclical [Member]
Total equity securities	11,430	10,905
Energy [Member]
Total equity securities	2,184	2,231
Financial [Member]
Total equity securities	2,358	2,417
Industrial [Member]
Total equity securities	8,221	9,205
Technology [Member]
Total equity securities	9,419	8,250
Level I [Member]
Total fixed income securities
Total equity securities	48,088	47,561
Cash and cash equivalents	25,209	27,594
Total assets at fair value	73,297	27,594
Level I [Member] | U.S. Government and agencies [Member]
Total fixed income securities
Level I [Member] | Obligations of states and political subdivisions [Member]
Total fixed income securities
Level I [Member] | Corporate securities [Member]
Total fixed income securities
Level I [Member] | Residential mortgage-backed securities [Member]
Total fixed income securities
Level I [Member] | Commercial mortgage-backed securities [Member]
Total fixed income securities
Level I [Member] | Asset backed securities [Member]
Total fixed income securities
Level I [Member] | Basic materials [Member]
Total equity securities	1,227	892
Level I [Member] | Communications [Member]
Total equity securities	4,329	4,322
Level I [Member] | Consumer, cyclical [Member]
Total equity securities	8,920	9,339
Level I [Member] | Consumer, non-cyclical [Member]
Total equity securities	11,430	10,905
Level I [Member] | Energy [Member]
Total equity securities	2,184	2,231
Level I [Member] | Financial [Member]
Total equity securities	2,358	2,417
Level I [Member] | Industrial [Member]
Total equity securities	8,221	9,205
Level I [Member] | Technology [Member]
Total equity securities	9,419	8,250
Level II [Member]
Total fixed income securities	238,480	236,758
Total equity securities
Cash and cash equivalents
Total assets at fair value	238,480	236,758
Level II [Member] | U.S. Government and agencies [Member]
Total fixed income securities	12,469	9,649
Level II [Member] | Obligations of states and political subdivisions [Member]
Total fixed income securities	72,830	82,595
Level II [Member] | Corporate securities [Member]
Total fixed income securities	90,058	89,451
Level II [Member] | Residential mortgage-backed securities [Member]
Total fixed income securities	32,965	28,524
Level II [Member] | Commercial mortgage-backed securities [Member]
Total fixed income securities	12,831	11,170
Level II [Member] | Asset backed securities [Member]
Total fixed income securities	17,327	15,369
Level II [Member] | Basic materials [Member]
Total equity securities
Level II [Member] | Communications [Member]
Total equity securities
Level II [Member] | Consumer, cyclical [Member]
Total equity securities
Level II [Member] | Consumer, non-cyclical [Member]
Total equity securities
Level II [Member] | Energy [Member]
Total equity securities
Level II [Member] | Financial [Member]
Total equity securities
Level II [Member] | Industrial [Member]
Total equity securities
Level II [Member] | Technology [Member]
Total equity securities
Level III [Member]
Total fixed income securities
Total equity securities
Cash and cash equivalents
Total assets at fair value
Level III [Member] | U.S. Government and agencies [Member]
Total fixed income securities
Level III [Member] | Obligations of states and political subdivisions [Member]
Total fixed income securities
Level III [Member] | Corporate securities [Member]
Total fixed income securities
Level III [Member] | Residential mortgage-backed securities [Member]
Total fixed income securities
Level III [Member] | Commercial mortgage-backed securities [Member]
Total fixed income securities
Level III [Member] | Asset backed securities [Member]
Total fixed income securities
Level III [Member] | Basic materials [Member]
Total equity securities
Level III [Member] | Communications [Member]
Total equity securities
Level III [Member] | Consumer, cyclical [Member]
Total equity securities
Level III [Member] | Consumer, non-cyclical [Member]
Total equity securities
Level III [Member] | Energy [Member]
Total equity securities
Level III [Member] | Financial [Member]
Total equity securities
Level III [Member] | Industrial [Member]
Total equity securities
Level III [Member] | Technology [Member]
Total equity securities

Reinsurance (Narrative) (Detail

Reinsurance (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Mar. 31, 2018
Reinsurance Disclosures [Abstract]
Reinsurance Retention Policy, Excess Retention, Amount Reinsured	$ 74,600
Retained risk amount		$ 10,000
Catastrophic retention amount increased	$ 10,000
Ceded reinsurance commission percentage	100.00%	100.00%

Reinsurance (Schedule of reconc

Reinsurance (Schedule of reconciliation of direct to net premiums on both a written and an earned basis) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Premiums Written
Direct premium	$ 39,274	$ 36,380
Assumed premium	1,283	1,195
Ceded premium	(2,319)	(2,478)
Net premiums	38,238	35,097
Premiums Earned
Direct premium	37,192	34,116
Assumed premium	1,239	1,171
Ceded premium	(2,319)	(2,478)
Net premiums	$ 36,112	$ 32,809
Percentage of assumed premium to net earned premium	3.40%	3.60%

Reinsurance (Schedule of reco54

Reinsurance (Schedule of reconciliation of direct to net losses and loss adjustment expenses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reinsurance Disclosures [Abstract]
Direct losses and loss adjustment expenses	$ 18,637	$ 19,642
Assumed losses and loss adjustment expenses	589	588
Ceded losses and loss adjustment expenses	(377)	(2,509)
Net losses and loss adjustment expenses	$ 18,849	$ 17,721

Deferred Policy Acquisition C55

Deferred Policy Acquisition Costs (Schedule of deferred policy acquisition costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Deferred Policy Acquisition Costs Disclosures [Abstract]
Balance, beginning of period	$ 8,859	$ 8,942
Deferral of policy acquisition costs	7,160	5,748
Amortization of deferred policy acquisition costs	(7,039)	(5,009)
Balance, end of period	$ 8,980	$ 9,681

Unpaid Losses and Loss Adjust56

Unpaid Losses and Loss Adjustment Expenses (Schedule of liability for unpaid losses and loss adjustment expenses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract]
Liability for unpaid losses and loss adjustment expense	$ 45,890	$ 59,632
Reinsurance ceded	4,128	7,192
Net balance at beginning of period	41,762	52,440
Incurred related to:
Current year	18,773	20,520
Prior years	76	(2,799)
Total Incurred	18,849	17,721
Paid related to:
Current year	8,740	7,516
Prior years	11,138	14,132
Total paid	19,878	21,648
Liability for unpaid losses and loss adjustment expense	43,863	57,496
Reinsurance ceded	3,130	8,983
Net balance at end of period	$ 40,733	$ 48,513

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Cost:	$ 17,168	$ 17,027
Accumulated depreciation	(11,289)	(11,150)
Total property and equipment, net	5,879	5,877
Depreciation expense	139	124
Real estate [Member]
Cost:	$ 10,740	10,633
Real estate [Member] | Minimum [Member]
Estimated Useful Life	10 years
Real estate [Member] | Maximum [Member]
Estimated Useful Life	31 years
Electronic data processing equipment [Member]
Cost:	$ 1,301	1,288
Electronic data processing equipment [Member] | Minimum [Member]
Estimated Useful Life	5 years
Electronic data processing equipment [Member] | Maximum [Member]
Estimated Useful Life	7 years
Furniture and fixtures [Member]
Cost:	$ 3,532	3,511
Furniture and fixtures [Member] | Minimum [Member]
Estimated Useful Life	5 years
Furniture and fixtures [Member] | Maximum [Member]
Estimated Useful Life	7 years
Automobiles [Member]
Cost:	$ 1,595	$ 1,595
Automobiles [Member] | Minimum [Member]
Estimated Useful Life	2 years
Automobiles [Member] | Maximum [Member]
Estimated Useful Life	3 years

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Payment of dividends			$ 15,654
NDFB [Member]
Related Party Transaction [Line Items]
Royalties	$ 307	$ 294
Accrued royalties	119			$ 99
Battle Creek [Member]
Related Party Transaction [Line Items]
Related party revenues	38	0
Related party expenses	$ 58	$ 0

Related Party Transactions (Sch

Related Party Transactions (Schedule of impact of consolidating Battle Creek into our consolidated balance sheets) (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Assets:
Accrued investment income		$ 1,825	$ 1,996
Property and equipment		5,879	5,877
Other assets		3,248	3,482
Total assets		376,124	376,988
Liabilities:
Unpaid losses and loss adjustment expenses		43,863	45,890	$ 57,496
Unearned premiums		65,388	63,262	$ 59,734
Reinsurance payable		19	428
Total liabilities		117,475	121,415
Equity:
Non-controlling interest		3,143	3,178
Total equity		258,649	255,573
Total liabilities and equity		376,124	376,988
Battle Creek [Member]
Assets:
Cash and cash equivalents (overdraft)		489	(726)
Investments		4,326	4,364
Premiums and agents' balances receivable		3,929	4,055
Reinsurance recoverables on losses	[1]	20,836	20,932
Accrued investment income		33	29
Deferred income tax asset, net		398	389
Property and equipment		365	370
Other assets		52	54
Total assets		30,428	29,467
Liabilities:
Unpaid losses and loss adjustment expenses		7,730	7,995
Unearned premiums		13,107	12,937
Notes payable	[1]	3,000	3,000
Reinsurance payable	[1]	2,619	965
Accrued expenses and other liabilities		829	1,392
Total liabilities		27,285	26,289
Equity:
Non-controlling interest		3,143	3,178
Total equity		3,143	3,178
Total liabilities and equity		$ 30,428	$ 29,467
[1]	Amount eliminated in consolidation.

Benefit Plans (Details)

Benefit Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Company's Total contribution to the money purchase plan	$ 197	$ 156
Company's total contributions to the 401(k) plan	140	115
Funds deposited in deferred compensation	144	105
Compensation expense	$ 103	0
ESOP shares were released and allocated			24,315
ESOP shares in suspense	215,685		215,685
Market price	$ 16.70
Fair value of unearned ESOP shares	$ 3,602
Debt from ESOP		$ 2,400
Debt term		10 years
Interest rate		2.79%
Percentage of ESOP in authorized shares		1.00%
Per share price		$ 10
Minimum [Member]
Employee contribution in percentage	3.00%
Maximum [Member]
Employee contribution in percentage	50.00%

Line of Credit (Details)

Line of Credit (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Line of credit with Wells Fargo	$ 3,000	$ 3,000
Line of credit expiration date	Nov. 30, 2018

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Unrecognized tax benefits
Interest and penalties
Battle Creek [Member]
Net operating loss carryover		$ 4,951
Expiration date	Dec. 31, 2030

Operating Leases (Details)

Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Leases, Operating [Abstract]
Operating lease expenses	$ 0	$ 80
Minimum future payments under these non-cancellable leases
Lease expiration date	Nov. 30, 2017

Common Stock (Narrative) (Detai

Common Stock (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Feb. 28, 2018	May 23, 2017
Equity [Abstract]
Authorization for repurchase of shares value		$ 10,000,000	$ 8,000,000
Shares repurchased	446,671
Shares repurchased, value	$ 8,037

Common Stock (Schedule of chang

Common Stock (Schedule of changes in number of common stock) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017
Equity [Abstract]
Shares outstanding, beginning of period	22,337,644	22,760,000
Initial public offering			23,000,000
Shares repurchased related to employee stock ownership plan			(240,000)
Shares repurchased		(446,671)
Issuance of treasury shares related to restricted stock unit awards	$ 15,200
Shares outstanding, end of period	22,352,844		22,760,000

Stock-based Compensation (Narra

Stock-based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation	$ 456
All award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share issued	500,000
Shares granted	100,000
Outstanding, Aggregate Intrinsic Value	$ 1,000
All award [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share granted not exceed	$ 100
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	32,500
Vesting period	5 years
Total unrecognized compensation cost	$ 1,108
Total unrecognized compensation cost, weighted average period	1 year 3 months 8 days
Percentage of RSU granted to employees per year	20.00%
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	48,600
Total unrecognized compensation cost	$ 768
Total unrecognized compensation cost, weighted average period	1 year 6 months

Stock-based Compensation (Sched

Stock-based Compensation (Schedule of Restricted Stock Outstanding) (Details) - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Shares
Units outstanding at December 31, 2017 | shares	65,500
Granted | shares	32,500
Vested | shares	(19,200)
Units outstanding at March 31, 2018 | shares	78,800
Weighted Average Grant Date Fair Value
Units outstanding at December 31, 2017 | $ / shares	$ 17.31
Granted | $ / shares	16.25
Vested | $ / shares	17.31
Units outstanding at March 31, 2018 | $ / shares	$ 16.97

Stock-based Compensation (Sch68

Stock-based Compensation (Schedule of RSU activity) (Details) - Restricted Stock [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU compensation expense	$ 434
Income tax benefit	(91)
RSU compensation expense, net of income taxes	$ 343

Stock Based Compensation (Sched

Stock Based Compensation (Schedule of Outstanding Performance Stock Units) (Details) - Performance Stock Units [Member]	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Shares
Units outstanding at December 31, 2017 | shares
Granted | shares	48,600
Units outstanding at March 31, 2018 | shares	48,600
Weighted Average Grant Date Fair Value
Units outstanding at December 31, 2017 | $ / shares
Granted | $ / shares	16.25
Units outstanding at March 31, 2018 | $ / shares	$ 16.25

Stock Based Compensation (Sch70

Stock Based Compensation (Schedule of PSU Activity) (Details) - Performance Stock Units [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU compensation expense	$ 22
Income tax benefit	(5)
RSU compensation expense, net of income taxes	$ 17

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017	Feb. 28, 2018	Dec. 31, 2017	May 23, 2017
Average number of common shares outstanding	22,374,056		22,760,000
Net common shares outstanding	22,352,844				22,337,644
Purchased shares of common stock		446,671
Repurchased, value		$ 8,037
Authorized amount				$ 10,000,000		$ 8,000,000
Common Stock [Member]
Net common shares outstanding					22,760,000

Earnings per Share (Schedule of

Earnings per Share (Schedule of Calculations of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Basic earnings per share:
Net income attributable to NI Holdings, Inc.	$ 6,122	$ 4,689
Weighted average shares outstanding	22,361,757	22,760,000
Basic earnings per share	$ 0.27	$ 0.21
Numerator:
Net income attributable to NI Holdings, Inc.	$ 6,122	$ 4,689
Denominator:
Number of shares used in basic computation	22,361,757	22,760,000
Add: Restricted stock units and performance share units	12,299
Number of shares used in per share computations	22,374,056	22,760,000
Diluted earnings per share	$ 0.27	$ 0.21

Segment Information (Schedule o

Segment Information (Schedule of revenue by insurance product line) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Direct premiums earned	$ 37,192	$ 34,116
Assumed premiums earned	1,239	1,171
Ceded premiums earned	(2,319)	(2,478)
Net premiums earned	36,112	32,809
Direct losses and LAE	18,637	19,642
Assumed losses and LAE	589	588
Ceded losses and LAE	(377)	(2,509)
Net losses and LAE	18,849	17,721
Gross margin	17,263	15,088
Underwriting and general expenses	11,877	10,019
Underwriting gain (loss)	5,386	5,069
Fee and other income	377	347
Net investment income	1,369	999
Net realized capital gain on investments	469	616
Income before income taxes	7,601	7,031
Income taxes	1,449	2,282
Net income	6,152	4,749
Net (loss) attributable to non-controlling interest	30	60
Net income attributable to NI Holdings, Inc.	$ 6,122	$ 4,689
Loss and LAE ratio	52.20%	54.00%
Expense ratio	32.90%	30.50%
Combined ratio	85.10%	84.50%
Premiums receivable	$ 26,968	$ 23,456	$ 25,632
Deferred policy acquisition costs	8,980	9,681	8,859	$ 8,942
Reinsurance recoverables	3,130	8,983	4,128
Receivable from Federal Crop Insurance Corporation	9,735	13,009	10,501
Unpaid losses and LAE	43,863	57,496	45,890
Unearned premiums	65,388	59,734	$ 63,262
Private Passenger Auto [Member]
Direct premiums earned	15,580	13,599
Assumed premiums earned	4	4
Ceded premiums earned	(759)	(959)
Net premiums earned	14,825	12,644
Direct losses and LAE	10,187	10,029
Assumed losses and LAE		271
Ceded losses and LAE	(65)	(313)
Net losses and LAE	10,122	9,987
Gross margin	4,703	2,657
Underwriting and general expenses	4,419	4,207
Underwriting gain (loss)	$ 284	$ (1,550)
Loss and LAE ratio	68.30%	79.00%
Expense ratio	29.80%	33.30%
Combined ratio	98.10%	112.30%
Premiums receivable	$ 16,043	$ 14,212
Deferred policy acquisition costs	3,481	3,334
Reinsurance recoverables	383	1,809
Receivable from Federal Crop Insurance Corporation
Unpaid losses and LAE	17,824	26,118
Unearned premiums	25,380	23,354
Non Standard Auto [Member]
Direct premiums earned	2,991	2,531
Assumed premiums earned
Ceded premiums earned
Net premiums earned	2,991	2,531
Direct losses and LAE	1,964	2,373
Assumed losses and LAE
Ceded losses and LAE
Net losses and LAE	1,964	2,373
Gross margin	1,027	158
Underwriting and general expenses	1,036	685
Underwriting gain (loss)	(9)	(527)
Fee and other income	322	264
Other income net	$ 313	$ (263)
Loss and LAE ratio	65.70%	93.80%
Expense ratio	34.60%	27.10%
Combined ratio	100.30%	120.80%
Premiums receivable	$ 1,251	$ 978
Deferred policy acquisition costs	343	282
Reinsurance recoverables
Receivable from Federal Crop Insurance Corporation
Unpaid losses and LAE	5,339	6,245
Unearned premiums	1,981	1,572
Home and Farm [Member]
Direct premiums earned	16,620	15,072
Assumed premiums earned	(5)	1
Ceded premiums earned	(1,497)	(1,435)
Net premiums earned	15,118	13,638
Direct losses and LAE	5,416	5,286
Assumed losses and LAE	13
Ceded losses and LAE	(107)	(854)
Net losses and LAE	5,322	4,432
Gross margin	9,796	9,206
Underwriting and general expenses	4,954	3,513
Underwriting gain (loss)	$ 4,842	$ 5,693
Loss and LAE ratio	35.20%	32.50%
Expense ratio	32.80%	25.80%
Combined ratio	68.00%	58.30%
Premiums receivable	$ 8,393	$ 7,208
Deferred policy acquisition costs	4,634	5,582
Reinsurance recoverables	713	5,163
Receivable from Federal Crop Insurance Corporation
Unpaid losses and LAE	10,124	14,680
Unearned premiums	33,528	30,585
Crop [Member]
Direct premiums earned	(1)	1,026
Assumed premiums earned		2
Ceded premiums earned	102	72
Net premiums earned	101	1,100
Direct losses and LAE	339	532
Assumed losses and LAE
Ceded losses and LAE	(24)	48
Net losses and LAE	315	580
Gross margin	(214)	520
Underwriting and general expenses	488	851
Underwriting gain (loss)	$ (702)	$ (331)
Loss and LAE ratio	311.90%	52.70%
Expense ratio	483.20%	77.40%
Combined ratio	795.00%	130.10%
Premiums receivable
Deferred policy acquisition costs
Reinsurance recoverables	19	170
Receivable from Federal Crop Insurance Corporation	9,735	13,009
Unpaid losses and LAE	160	1,696
Unearned premiums
All Other [Member]
Direct premiums earned	2,002	1,888
Assumed premiums earned	1,240	1,164
Ceded premiums earned	(165)	(156)
Net premiums earned	3,077	2,896
Direct losses and LAE	731	1,422
Assumed losses and LAE	576	317
Ceded losses and LAE	(181)	(1,390)
Net losses and LAE	1,126	349
Gross margin	1,951	2,547
Underwriting and general expenses	980	763
Underwriting gain (loss)	$ 971	$ 1,784
Loss and LAE ratio	36.60%	12.10%
Expense ratio	31.80%	26.30%
Combined ratio	68.40%	38.40%
Premiums receivable	$ 1,281	$ 1,058
Deferred policy acquisition costs	522	483
Reinsurance recoverables	2,015	1,841
Receivable from Federal Crop Insurance Corporation
Unpaid losses and LAE	10,416	8,757
Unearned premiums	$ 4,499	$ 4,223