NI (NODK) 10-Q 8 Aug 23 2023 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Jul. 31, 2023
Document Information Line Items
Entity Registrant Name	NI HOLDINGS, INC.
Trading Symbol	NODK
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		20,862,795
Amendment Flag	false
Entity Central Index Key	0001681206
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-37973
Entity Incorporation, State or Country Code	ND
Entity Tax Identification Number	81-2683619
Entity Address, Address Line One	1101 First Avenue North
Entity Address, City or Town	Fargo
Entity Address, State or Province	ND
Entity Address, Postal Zip Code	58102
City Area Code	(701)
Local Phone Number	298-4200
Title of 12(b) Security	Common Stock, $0.01 par value per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets:
Cash and cash equivalents	$ 52,636	$ 47,002
Fixed income securities, at fair value (net of allowance for expected credit losses of $0 at June 30, 2023 and $0 at December 31, 2022)	332,989	303,324
Equity securities, at fair value	24,654	52,393
Other investments	2,005	2,005
Total cash and investments	412,284	404,724
Premiums and agents' balances receivable (net of allowance for expected credit losses of $434 at June 30, 2023 and $425 at December 31, 2022)	106,946	62,173
Deferred policy acquisition costs	34,124	29,768
Reinsurance premiums receivable	1,661	1,647
Reinsurance recoverables on losses (net of allowance for expected credit losses of $0 at June 30, 2023 and $0 at December 31, 2022)	53,508	37,575
Income tax recoverable	12,327	13,964
Accrued investment income	2,734	2,456
Property and equipment, net	10,276	9,843
Deferred income taxes	12,070	9,005
Receivable from Federal Crop Insurance Corporation	14,032	15,462
Goodwill and other intangibles	17,014	17,250
Other assets	10,222	10,365
Total assets	687,198	614,232
Liabilities:
Unpaid losses and loss adjustment expenses	232,038	190,459
Unearned premiums	185,350	148,513
Accrued expenses and other liabilities	29,427	22,053
Total liabilities	446,815	361,025
Shareholders’ equity:
Common stock, $0.01 par value, authorized: 25,000,000 shares; issued: 23,000,000 shares; and outstanding: 2023 – 20,885,978 shares, 2022 – 21,076,255 shares	230	230
Additional paid-in capital	95,750	95,671
Unearned employee stock ownership plan shares	(941)	(941)
Retained earnings	201,518	214,121
Accumulated other comprehensive loss, net of income taxes	(26,986)	(29,286)
Treasury stock, at cost, 2023 – 2,019,912 shares, 2022 – 1,829,635 shares	(31,122)	(28,818)
Non-controlling interest	1,934	2,230
Total shareholders’ equity	240,383	253,207
Total liabilities and shareholders’ equity	$ 687,198	$ 614,232

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Net of allowance for expected credit losses (in Dollars)	$ 0	$ 0
Premiums and agents' balances receivable net of allowance for expected credit losses (in Dollars)	434	425
Reinsurance recoverables on losses net of allowance for expected credit losses (in Dollars)	$ 0	$ 0
Common stock, par value (in Dollars per share)	$ 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	20,885,978	21,076,255
Treasury stock, shares	2,019,912	1,829,635

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Net premiums earned	$ 94,146	$ 84,496	$ 171,773	$ 154,083
Fee and other income	499	415	773	843
Net investment income	2,505	2,015	4,744	3,668
Net investment gains (losses)	(174)	(11,136)	1,242	(16,664)
Total revenues	96,976	75,790	178,532	141,930
Expenses:
Losses and loss adjustment expenses	77,506	108,595	136,331	148,724
Amortization of deferred policy acquisition costs	20,579	16,244	39,167	31,867
Other underwriting and general expenses	9,295	10,002	18,951	17,783
Total expenses	107,380	134,841	194,449	198,374
Loss before income taxes	(10,404)	(59,051)	(15,917)	(56,444)
Income tax benefit	(2,169)	(12,415)	(3,182)	(11,847)
Net loss	(8,235)	(46,636)	(12,735)	(44,597)
Net loss attributable to non-controlling interest	(113)	(726)	(403)	(596)
Net loss attributable to NI Holdings, Inc.	$ (8,122)	$ (45,910)	$ (12,332)	$ (44,001)
Loss per common share:
Basic (in Dollars per share)	$ (0.38)	$ (2.15)	$ (0.58)	$ (2.06)
Diluted (in Dollars per share)	$ (0.38)	$ (2.15)	$ (0.58)	$ (2.06)
Share data:
Weighted average common shares outstanding used in basic per common share calculations (in Shares)	21,281,542	21,379,803	21,325,007	21,376,298
Plus: Dilutive securities (in Shares)
Weighted average common shares used in diluted per common share calculations (in Shares)	21,281,542	21,379,803	21,325,007	21,376,298

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net loss	$ (8,235)	$ (46,636)	$ (12,735)	$ (44,597)
Other comprehensive income (loss), before income taxes:
Holding gains (losses) on investments	(3,094)	(16,388)	2,628	(37,282)
Reclassification adjustment for net realized losses included in net loss	188	105	487	62
Other comprehensive income (loss), before income taxes	(2,906)	(16,283)	3,115	(37,220)
Income tax benefit (expense) related to items of other comprehensive income (loss)	660	3,701	(708)	8,460
Other comprehensive income (loss), net of income taxes	(2,246)	(12,582)	2,407	(28,760)
Comprehensive loss	(10,481)	(59,218)	(10,328)	(73,357)
Attributable to NI Holdings, Inc.
Net loss	(8,122)	(45,910)	(12,332)	(44,001)
Other comprehensive income (loss), before income taxes:
Holding gains (losses) on investments	(2,954)	(15,738)	2,490	(35,935)
Reclassification adjustment for net realized losses included in net loss	188	105	487	62
Other comprehensive income (loss), before income taxes	(2,766)	(15,633)	2,977	(35,873)
Income tax benefit (expense) related to items of other comprehensive income (loss)	628	3,553	(677)	8,154
Other comprehensive income (loss), net of income taxes	(2,138)	(12,080)	2,300	(27,719)
Comprehensive loss	(10,260)	(57,990)	(10,032)	(71,720)
Attributable to Non- Controlling Interest
Net loss	(113)	(726)	(403)	(596)
Other comprehensive income (loss), before income taxes:
Holding gains (losses) on investments	(140)	(650)	138	(1,347)
Reclassification adjustment for net realized losses included in net loss
Other comprehensive income (loss), before income taxes	(140)	(650)	138	(1,347)
Income tax benefit (expense) related to items of other comprehensive income (loss)	32	148	(31)	306
Other comprehensive income (loss), net of income taxes	(108)	(502)	107	(1,041)
Comprehensive loss	$ (221)	$ (1,228)	$ (296)	$ (1,637)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Unearned Employee Stock Ownership Plan Shares	Retained Earnings	Accumulated Other Comprehensive Income (Loss), Net of Income Taxes	Treasury Stock	Non-Controlling Interest	Total
Balance at Dec. 31, 2021	$ 230	$ 98,166	$ (1,184)	$ 267,207	$ 5,237	$ (26,452)	$ 4,209	$ 347,413
Net loss				(44,001)			(596)	(44,597)
Other comprehensive income (loss), net of income taxes					(27,719)		(1,041)	(28,760)
Purchase of treasury stock						(1,931)		(1,931)
Share-based compensation		1,051						1,051
Issuance of vested award shares		(2,390)		11		1,814		(565)
Balance at Jun. 30, 2022	230	96,827	(1,184)	223,217	(22,482)	(26,569)	2,572	272,611
Balance at Mar. 31, 2022	230	96,517	(1,184)	269,142	(10,402)	(25,825)	3,800	332,278
Net loss				(45,910)			(726)	(46,636)
Other comprehensive income (loss), net of income taxes					(12,080)		(502)	(12,582)
Purchase of treasury stock						(934)		(934)
Share-based compensation		486						486
Issuance of vested award shares		(176)		(15)		190		(1)
Balance at Jun. 30, 2022	230	96,827	(1,184)	223,217	(22,482)	(26,569)	2,572	272,611
Balance at Dec. 31, 2022	230	95,671	(941)	214,121	(29,286)	(28,818)	2,230	253,207
Net loss				(12,332)			(403)	(12,735)
Other comprehensive income (loss), net of income taxes					2,300		107	2,407
Purchase of treasury stock						(3,223)		(3,223)
Share-based compensation		901						901
Issuance of vested award shares		(822)		(271)		919		(174)
Balance at Jun. 30, 2023	230	95,750	(941)	201,518	(26,986)	(31,122)	1,934	240,383
Balance at Mar. 31, 2023	230	95,568	(941)	209,710	(24,848)	(28,803)	2,155	253,071
Net loss				(8,122)			(113)	(8,235)
Other comprehensive income (loss), net of income taxes					(2,138)		(108)	(2,246)
Purchase of treasury stock						(2,602)		(2,602)
Share-based compensation		396						396
Issuance of vested award shares		(214)		(70)		283		(1)
Balance at Jun. 30, 2023	$ 230	$ 95,750	$ (941)	$ 201,518	$ (26,986)	$ (31,122)	$ 1,934	$ 240,383

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (12,735)	$ (44,597)
Adjustments to reconcile net loss to net cash flows from operating activities:
Net investment losses (gains)	(1,242)	16,664
Deferred income tax benefit	(3,773)	(6,069)
Depreciation of property and equipment	370	344
Amortization of intangibles	236	236
Share-based compensation	901	1,051
Amortization of deferred policy acquisition costs	39,167	31,867
Deferral of policy acquisition costs	(43,523)	(37,837)
Net amortization of premiums and discounts on investments	557	885
Gain on sale of property and equipment	(44)	(186)
Changes in operating assets and liabilities:
Premiums and agents’ balances receivable	(44,773)	(56,884)
Reinsurance premiums receivable / payable	(14)	587
Reinsurance recoverables on losses	(15,933)	4,159
Income tax recoverable / payable	1,637	(8,111)
Accrued investment income	(278)	(27)
Federal Crop Insurance Corporation receivable / payable	1,430	2,140
Other assets	143	(2,401)
Unpaid losses and loss adjustment expenses	41,579	43,214
Unearned premiums	36,837	45,936
Accrued expenses and other liabilities	7,374	22,676
Net cash flows from operating activities	7,916	13,647
Cash flows from investing activities:
Proceeds from maturities and sales of fixed income securities	19,239	31,846
Proceeds from sales of equity securities	33,223	7,837
Purchases of fixed income securities	(46,833)	(41,461)
Purchases of equity securities	(3,755)	(10,171)
Purchases of property and equipment	(888)	(784)
Proceeds from sales of property and equipment	129	658
Net cash flows from investing activities	1,115	(12,075)
Cash flows from financing activities:
Purchases of treasury stock	(3,223)	(1,931)
Installment payment on Westminster consideration payable		(6,667)
Issuance of vested award shares	(174)	(565)
Net cash flows from financing activities	(3,397)	(9,163)
Net increase (decrease) in cash and cash equivalents	5,634	(7,591)
Cash and cash equivalents at beginning of period	47,002	70,623
Cash and cash equivalents at end of period	52,636	63,032
Federal and state income taxes paid		$ 2,360

Organization

Organization	6 Months Ended
	Jun. 30, 2023
Organization [Abstract]
Organization	1. Organization NI Holdings is a North Dakota business corporation that is the stock holding company of Nodak Insurance and became such in connection with the conversion of Nodak Mutual 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 were issued to Nodak Mutual Group, which then contributed the shares to NI Holdings in exchange for 55% of the outstanding shares of common stock of NI Holdings. Nodak Insurance 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 and its existing subsidiaries. These unaudited consolidated financial statements include the financial position and results of operations of NI Holdings and the following other entities: Nodak Insurance Company Nodak Insurance is the largest domestic property and casualty insurance company in North Dakota, offering private passenger auto, homeowners, farmowners, commercial multi-peril, crop hail, and Federal multi-peril crop insurance coverages through its captive agents in the state. Nodak Agency, Inc. Nodak Agency is an inactive shell corporation. American West Insurance Company American West is a property and casualty insurance company licensed in eight states in the Midwest and Western regions of the United States (“U.S.”). American West began writing policies in 2002 and primarily writes private passenger auto, homeowners, and farm coverages in South Dakota. American West also writes personal auto coverage in North Dakota, as well as crop hail and Federal multi-peril crop insurance coverages in Minnesota and South Dakota. Primero Insurance Company 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. Primero was acquired by Nodak Insurance in 2014. Battle Creek Mutual Insurance Company Battle Creek is a property and casualty insurance company writing private passenger auto, homeowners, and farm coverages solely in the state of Nebraska. Battle Creek became affiliated with Nodak Insurance in 2011, and Nodak Insurance provides underwriting, claims management, policy administration, and other administrative services to Battle Creek. Because we have concluded that we control Battle Creek, 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 shareholders’ equity in our Consolidated Balance Sheets and its net income or loss is excluded from net income or loss attributed to NI Holdings in our Consolidated Statements of Operations. Direct Auto Insurance Company Direct Auto is a property and casualty insurance company licensed in Illinois. Direct Auto began writing non-standard automobile coverage in 2007, and was acquired by NI Holdings on August 31, 2018, via a stock purchase agreement. Westminster American Insurance Company Westminster is a property and casualty insurance company licensed in 18 states and the District of Columbia. Westminster is headquartered in Owings Mills, Maryland and underwrites commercial multi-peril insurance in the states of Delaware, Georgia, Kentucky, Maryland, New Jersey, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia, and the District of Columbia. Westminster was acquired by NI Holdings on January 1, 2020, via a stock purchase agreement. Nodak Insurance markets and distributes its policies through its captive agents, while all other companies utilize the independent agent distribution channel. Additionally, all of the Company’s insurance subsidiary and affiliate companies are rated “A” Excellent by A.M. Best Company, Inc. (“AM Best”). The same executive management team provides oversight and strategic direction for the entire organization. Nodak Insurance provides common product oversight, pricing practices, and underwriting standards, as well as underwriting and claims administration, to itself, American West, and Battle Creek. Primero, Direct Auto, and Westminster personnel manage the day-to-day operations of their respective companies.

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	6 Months Ended
	Jun. 30, 2023
Basis of Presentation and Accounting Policies [Abstract]
Basis of Presentation and Accounting Policies	2. Basis of Presentation and Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. All material intercompany transactions and balances have been eliminated. These financial statements should be read in conjunction with the financial statements and notes thereto included in our 2022 Annual Report. The Consolidated Balance Sheet at December 31, 2022, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of the interim unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim unaudited consolidated financial statements and the reported amounts of revenues, claims, and expenses during the reporting period. Actual results could differ from those estimates. Operating results for the interim periods ended June 30, 2023, are not necessarily indicative of the results that may be expected for the year ended December 31, 2023. Our 2022 Annual Report describes the accounting policies and estimates that are critical to the understanding of our results of operations, financial condition, and liquidity. The accounting policies and estimation processes described in the 2022 Annual Report were consistently applied to the unaudited consolidated financial statements as of and for the six months ended June 30, 2023 and 2022. Recent Accounting Pronouncements Prior to December 31, 2022, we were classified as an emerging growth company (“EGC”) and elected to use the extended transition period for complying with certain new or revised financial accounting standards from the Financial Accounting Standards Board (“FASB”) pursuant to Section 13(a) of the Exchange Act. However, beginning on December 31, 2022, we are no longer an EGC and are now unable to delay adoption of these new or revised accounting standards, or to take advantage of reduced corporate governance disclosures. Adopted For information regarding accounting pronouncements that the Company adopted during the periods presented, see Item II, Part 8, Note 2 “Recent Accounting Pronouncements” section of the 2022 Annual Report.

Investments

Investments	6 Months Ended
	Jun. 30, 2023
Investments [Abstract]
Investments	3. Investments The amortized cost and estimated fair value of fixed income securities as of June 30, 2023, and December 31, 2022, were as follows: June 30, 2023 Cost or Allowance for Gross Gross Fair Value Fixed income securities: U.S. Government and agencies $ 9,941 $ — $ — $ (909 ) $ 9,032 Obligations of states and political subdivisions 58,753 — 64 (5,407 ) 53,410 Corporate securities 150,137 — 132 (14,403 ) 135,866 Residential mortgage-backed securities 62,623 — 35 (5,886 ) 56,772 Commercial mortgage-backed securities 30,300 — — (4,837 ) 25,463 Asset-backed securities 53,025 — 29 (4,703 ) 48,351 Redeemable preferred stocks 4,747 — — (652 ) 4,095 Total fixed income securities $ 369,526 $ — $ 260 $ (36,797 ) $ 332,989 December 31, 2022 Cost or Allowance for Gross Gross Fair Value Fixed income securities: U.S. Government and agencies $ 11,174 $ — $ 1 $ (1,008 ) $ 10,167 Obligations of states and political subdivisions 60,342 — 38 (6,454 ) 53,926 Corporate securities 136,837 — 109 (15,787 ) 121,159 Residential mortgage-backed securities 53,254 — 85 (5,846 ) 47,493 Commercial mortgage-backed securities 30,837 — — (4,702 ) 26,135 Asset-backed securities 45,786 — — (5,061 ) 40,725 Redeemable preferred stocks 4,747 — — (1,028 ) 3,719 Total fixed income securities $ 342,977 $ — $ 233 $ (39,886 ) $ 303,324 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 may have the right to call or prepay these securities. June 30, 2023 Amortized Cost Fair Value Due to mature: One year or less $ 12,199 $ 11,948 After one year through five years 79,650 74,773 After five years through ten years 85,000 75,928 After ten years 41,982 35,659 Mortgage / asset-backed securities 145,948 130,586 Redeemable preferred stocks 4,747 4,095 Total fixed income securities $ 369,526 $ 332,989 December 31, 2022 Amortized Cost Fair Value Due to mature: One year or less $ 10,130 $ 9,971 After one year through five years 81,879 77,031 After five years through ten years 76,648 65,966 After ten years 39,696 32,284 Mortgage / asset-backed securities 129,877 114,353 Redeemable preferred stocks 4,747 3,719 Total fixed income securities $ 342,977 $ 303,324 Fixed income securities with a fair value of $5,918 at June 30, 2023, and $6,613 at December 31, 2022, 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 are shown below. 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. June 30, 2023 Less than 12 Months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: U.S. Government and agencies $ — $ — $ 9,032 $ (909 ) $ 9,032 $ (909 ) Obligations of states and political subdivisions 7,234 (431 ) 40,295 (4,976 ) 47,529 (5,407 ) Corporate securities 17,414 (418 ) 108,662 (13,985 ) 126,076 (14,403 ) Residential mortgage-backed securities 14,358 (260 ) 32,757 (5,626 ) 47,115 (5,886 ) Commercial mortgage-backed securities 2,033 (56 ) 23,155 (4,781 ) 25,188 (4,837 ) Asset-backed securities 12,063 (185 ) 34,836 (4,518 ) 46,899 (4,703 ) Redeemable preferred stocks — — 4,095 (652 ) 4,095 (652 ) Total fixed income securities $ 53,102 $ (1,350 ) $ 252,832 $ (35,447 ) $ 305,934 $ (36,797 ) December 31, 2022 Less than 12 Months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: U.S. Government and agencies $ 7,078 $ (537 ) $ 2,587 $ (471 ) $ 9,665 $ (1,008 ) Obligations of states and political subdivisions 40,213 (3,554 ) 9,045 (2,900 ) 49,258 (6,454 ) Corporate securities 76,645 (7,944 ) 39,683 (7,843 ) 116,328 (15,787 ) Residential mortgage-backed securities 21,017 (1,805 ) 18,519 (4,041 ) 39,536 (5,846 ) Commercial mortgage-backed securities 18,932 (2,674 ) 7,204 (2,028 ) 26,136 (4,702 ) Asset-backed securities 18,904 (1,522 ) 21,809 (3,539 ) 40,713 (5,061 ) Redeemable preferred stocks 3,015 (732 ) 705 (296 ) 3,720 (1,028 ) Total fixed income securities $ 185,804 $ (18,768 ) $ 99,552 $ (21,118 ) $ 285,356 $ (39,886 ) We, along with our investment advisors, frequently review our investment portfolio for declines in fair value that could be indicative of credit losses. Beginning on December 31, 2022, credit losses are recognized through an allowance account. We consider a number of factors when determining if an allowance for credit losses is necessary, including payment and default history, credit spreads, credit ratings and rating actions, and probability of default. We determine the credit loss component of fixed maturity investments by utilizing discounted cash flow modeling to determine the present value of the security and comparing the present value with the amortized cost of the security. We did not recognize any credit losses for fixed income securities at the time of adoption of the new credit loss accounting standard or during the three or six months ended June 30, 2023. Therefore, there was no beginning or ending balance of credit losses for the three or six months ended June 30, 2023, or the year ended December 31, 2022. See Item II, Part 8, Note 3 “Summary of Significant Accounting Policies” section of the 2022 Annual Report for additional information. Net investment income consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Fixed income securities $ 2,781 $ 2,406 $ 5,411 $ 4,567 Equity securities 283 395 603 724 Real estate 156 75 306 241 Cash and cash equivalents 94 10 146 12 Total gross investment income 3,314 2,886 6,466 5,544 Investment expenses 809 871 1,722 1,876 Net investment income $ 2,505 $ 2,015 $ 4,744 $ 3,668 Net investment gains (losses) consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Gross realized gains: Fixed income securities $ — $ 5 $ — $ 51 Equity securities 357 1,196 13,088 2,269 Total gross realized gains 357 1,201 13,088 2,320 Gross realized losses, excluding credit impairment losses: Fixed income securities (188 ) (110 ) (487 ) (113 ) Equity securities (288 ) (64 ) (1,134 ) (242 ) Total gross realized losses, excluding credit impairment losses (476 ) (174 ) (1,621 ) (355 ) Net realized gains (losses) (119 ) 1,027 11,467 1,965 Change in net unrealized gain on equity securities (55 ) (12,163 ) (10,225 ) (18,629 ) Net investment gains (losses) $ (174 ) $ (11,136 ) $ 1,242 $ (16,664 )

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Measurements [Abstract]
Fair Value Measurements	4. Fair Value Measurements The Company uses fair value measurements to record fair value adjustments to certain assets to determine fair value disclosures. Investment securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, we may be required to record other assets or liabilities at fair value on a nonrecurring basis. These nonrecurring fair value adjustments typically involve application of lower-of-cost-or-market accounting or write-downs of individual assets. Accounting guidance on fair value measurements and disclosures establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The three levels of the fair value hierarchy are as follows: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. Level 2 includes fixed income securities with quoted prices that are traded less frequently than exchange traded instruments. Valuation techniques include matrix pricing which is a mathematical technique used widely in the industry to value fixed income securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity). The Company bases its fair values on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It is our policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements, in accordance with the fair value hierarchy. Fair value measurements for assets where there exists limited or no observable market data and, therefore, are based primarily upon the estimates of the Company or other third-parties, are often calculated based on the characteristics of the asset, the economic and competitive environment, and other such factors. Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts which could have been realized in a sale transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective period-end and have not been re-evaluated or updated for purposes of our consolidated financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each period-end. Additionally, changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results of current or future valuations. The Company uses quoted values and other data provided by an independent pricing service in its process for determining fair values of its investments. The evaluations of such pricing services represent an exit price and a good faith opinion as to what a buyer in the marketplace would pay for a security in a current sale. This pricing service provides us with one quote per instrument. For fixed income securities that have quoted prices in active markets, market quotations are provided. For fixed income securities that do not trade on a daily basis, the independent pricing service prepares estimates of fair value using a wide array of observable inputs including relevant market information, benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing. The observable market inputs that the Company’s independent pricing service utilizes may include (listed in order of priority for use) benchmark yields, reported trades, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, market bids/offers, and other reference data on markets, industry, and the economy. Additionally, the independent pricing service uses an option-adjusted spread model to develop prepayment and interest rate scenarios. Should the independent pricing service be unable to provide a fair value estimate, we would attempt to obtain a non-binding fair value estimate from a number of broker-dealers and would review this estimate in conjunction with a fair value estimate reported by an independent business news service or other sources. In instances where only one broker-dealer provides a fair value for a fixed income security, we would use that estimate. In instances where the Company would be able to obtain fair value estimates from more than one broker-dealer, we would review the range of estimates and select the most appropriate value based on the facts and circumstances. Should neither the independent pricing service nor a broker-dealer provide a fair value estimate, we would develop a fair value estimate based on cash flow analyses and other valuation techniques that utilize certain unobservable inputs. Accordingly, the Company classifies such a security as a Level 3 investment. The fair value estimates of our investments provided by the independent pricing service at each period-end were utilized, among other resources, in reaching a conclusion as to the fair value of its investments. Management reviews the reasonableness of the pricing provided by the independent pricing service by employing various analytical procedures. We also use information from our third-party investment advisors who utilize different independent pricing services to further validate the reasonableness of the valuation of our fixed income portfolio. If, after this review, management does not believe the pricing for any security is a reasonable estimate of fair value, then it will seek to resolve the discrepancy through discussions with the independent pricing service. In its review, management did not identify any such discrepancies and no adjustments were made to the estimates provided by the independent pricing service for the three or six months ended June 30, 2023, or the year ended December 31, 2022. The classification within the fair value hierarchy is then confirmed based on the final conclusions from the pricing review. The valuation of cash equivalents and equity securities are generally based on Level 1 inputs, which use the market-approach valuation technique. The valuation of our fixed income securities generally incorporates significant Level 2 inputs using the market and income approach techniques. We may assign a lower level to inputs typically considered to be Level 2 based on our assessment of liquidity and relative level of uncertainty surrounding inputs. There were no assets or liabilities classified at Level 3 at June 30, 2023, or December 31, 2022. 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: June 30, 2023 Total Level 1 Level 2 Level 3 Fixed income securities: U.S. Government and agencies $ 9,032 $ — $ 9,032 $ — Obligations of states and political subdivisions 53,410 — 53,410 — Corporate securities 135,866 — 135,866 — Residential mortgage-backed securities 56,772 — 56,772 — Commercial mortgage-backed securities 25,463 — 25,463 — Asset-backed securities 48,351 — 48,351 — Redeemable preferred stock 4,095 — 4,095 — Total fixed income securities 332,989 — 332,989 — Equity securities: Common stock 22,807 22,807 — — Non-redeemable preferred stock 1,847 1,847 — — Total equity securities 24,654 24,654 — — Cash equivalents 34,004 34,004 — — Total assets at fair value $ 391,647 $ 58,658 $ 332,989 $ — December 31, 2022 Total Level 1 Level 2 Level 3 Fixed income securities: U.S. Government and agencies $ 10,167 $ — $ 10,167 $ — Obligations of states and political subdivisions 53,926 — 53,926 — Corporate securities 121,159 — 121,159 — Residential mortgage-backed securities 47,493 — 47,493 — Commercial mortgage-backed securities 26,135 — 26,135 — Asset-backed securities 40,725 — 40,725 — Redeemable preferred stock 3,719 — 3,719 — Total fixed income securities 303,324 — 303,324 — Equity securities: Common stock 50,699 50,699 — — Non-redeemable preferred stock 1,694 1,694 — — Total equity securities 52,393 52,393 — — Cash equivalents 27,255 27,255 — — Total assets at fair value $ 382,972 $ 79,648 $ 303,324 $ — There were no liabilities measured at fair value on a recurring basis at June 30, 2023, or December 31, 2022.

Reinsurance

Reinsurance	6 Months Ended
	Jun. 30, 2023
Reinsurance [Abstract]
Reinsurance	5. Reinsurance External Reinsurance The Company’s consolidated financial statements reflect the effects of assumed and ceded reinsurance transactions. Assumed reinsurance refers to the acceptance of certain insurance risks that other insurance companies have underwritten. Ceded reinsurance involves transferring certain insurance risks (along with the related written and earned premiums) the Company has underwritten to other insurance companies who agree to share these risks. The primary purpose of these agreements is to protect the Company, at a cost, from losses in excess of the amount it is prepared to accept and to protect the Company’s capital. Our ceded reinsurance is placed either on an automatic basis under general reinsurance contracts known as treaties or through facultative contracts placed on substantial individual risks. These contracts do not relieve the Company from its obligations to policyholders. During the six-month period ended June 30, 2023, the Company maintained property catastrophe reinsurance protection covering $133,000 in excess of a $20,000 retention. Additionally, per risk excess of loss treaties provided coverage of $4,000 in excess of $1,000 for property risks and $11,000 in excess of $1,000 for casualty risks, with facultative contracts in place to provide coverage up to $20,000 in excess of $5,000 per property. Aggregate stop loss reinsurance agreements were placed for both crop hail and multi-peril crop coverage. The crop hail aggregate attached at a 100% net loss ratio providing 50 points of cover. The multi-peril crop aggregate attached at a 105% net loss ratio providing 45 points of cover. In addition to the aggregate covers, underlying multi-peril crop reinsurance was provided through the Federal Crop Insurance Corporation (“FCIC”). During the year ended December 31, 2022, the Company maintained property catastrophe reinsurance protection covering $125,000 in excess of a $15,000 retention. Additionally, per risk excess of loss treaties provided coverage of $4,000 in excess of $1,000 for property risks and $11,000 in excess of $1,000 for casualty risks, with facultative contracts in place to provide coverage up to $20,000 in excess of $5,000 per property. Aggregate stop loss reinsurance agreements were placed for both crop hail and multi-peril crop coverage. The crop hail aggregate attached at a 100% net loss ratio providing 50 points of cover. The multi-peril crop aggregate attached at a 105% net loss ratio providing 45 points of cover. In addition to the aggregate covers, underlying multi-peril crop reinsurance was provided through the FCIC. The Company actively monitors and evaluates the financial condition of the reinsurers and develops estimates of the uncollectible amounts due from reinsurers. Beginning on December 31, 2022, credit losses are recognized through an allowance account developed using a new credit loss model (current expected credit losses or “CECL”). See the Part II, Item 8, Note 2 “Recent Accounting Pronouncements” section of the 2022 Annual Report for additional information. Credit loss estimates are made based on periodic evaluation of balances due from reinsurers, changes in reinsurer credit standing, 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 by entering into reinsurance arrangements only with reinsurers that have strong credit ratings and statutory surplus above certain levels. At June 30, 2023, and December 31, 2022, management has concluded that it is not necessary to record an allowance for expected credit losses related to reinsurance recoverables. All of our significant reinsurance partners are rated “A-” (Excellent) or better by AM Best, and there is no history of write-offs. A reconciliation of direct to net premiums on both a written and an earned basis is as follows: Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Premiums Written Premiums Earned Premiums Written Premiums Earned Direct premium $ 144,250 $ 106,162 $ 234,806 $ 191,636 Assumed premium 2,440 827 2,839 1,403 Ceded premium (20,439 ) (12,843 ) (28,898 ) (21,266 ) Net premiums $ 126,251 $ 94,146 $ 208,747 $ 171,773 Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Premiums Written Premiums Earned Premiums Written Premiums Earned Direct premium $ 144,962 $ 94,251 $ 220,495 $ 167,650 Assumed premium 3,226 1,691 5,087 3,552 Ceded premium (20,175 ) (11,446 ) (25,835 ) (17,119 ) Net premiums $ 128,013 $ 84,496 $ 199,747 $ 154,083 A reconciliation of direct to net losses and loss adjustment expenses is as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Direct losses and loss adjustment expenses $ 95,149 $ 110,670 $ 166,010 $ 156,165 Assumed losses and loss adjustment expenses 67 1,535 157 1,545 Ceded losses and loss adjustment expenses (17,710 ) (3,610 ) (29,836 ) (8,986 ) Net losses and loss adjustment expenses $ 77,506 $ 108,595 $ 136,331 $ 148,724 If 100% of our ceded reinsurance was cancelled as of June 30, 2023, or December 31, 2022, no ceded commissions would need to be returned to the reinsurers. Reinsurance contracts are typically effective from January 1 through December 31 each year. Intercompany Reinsurance Pooling Arrangement Effective January 1, 2020, all of our insurance subsidiary and affiliate companies entered into an intercompany reinsurance pooling agreement. Nodak Insurance is the lead company of the pool, and assumes the net premiums, net losses, and underwriting expenses from each of the other five companies. Nodak Insurance then retrocedes balances back to each company, while retaining its own share of the pool’s net underwriting results, based on individual pool percentages established in the respective pooling agreement. This arrangement allows each insurance company to rely upon the capacity of the pool’s total statutory capital and surplus. As a result, they are evaluated by AM Best on a group basis and hold a single combined financial strength rating, long-term issuer credit rating, and financial size category. For the six months ended June 30, 2023, and the year ended December 31, 2022, the pooling share percentages by insurance company were: Pool Percentage Nodak Insurance Company 66.0% American West Insurance Company 7.0% Primero Insurance Company 3.0% Battle Creek Mutual Insurance Company 2.0% Direct Auto Insurance Company 13.0% Westminster American Insurance Company 9.0% Total 100.0%

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	6 Months Ended
	Jun. 30, 2023
ASU 2018-12 Transition [Abstract]
Deferred Policy Acquisition Costs	6. Deferred Policy Acquisition Costs Expenses directly related to successfully acquired insurance policies, primarily commissions, premium taxes and underwriting costs, are deferred and amortized over the terms of the policies. We update our acquisition cost assumptions periodically to reflect actual experience, and we evaluate the costs for recoverability. The table below shows the deferred policy acquisition costs and asset reconciliation: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance, beginning of period $ 31,350 $ 26,272 $ 29,768 $ 24,947 Deferral of policy acquisition costs 23,353 20,889 43,523 37,837 Amortization of deferred policy acquisition costs (20,579 ) (16,244 ) (39,167 ) (31,867 ) Balance, end of period $ 34,124 $ 30,917 $ 34,124 $ 30,917

Unpaid Losses and Loss Adjustme

Unpaid Losses and Loss Adjustment Expenses	6 Months Ended
	Jun. 30, 2023
Reinsurance [Abstract]
Unpaid Losses and Loss Adjustment Expenses	7. Unpaid Losses and Loss Adjustment Expenses Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows: Six Months Ended June 30, 2023 2022 Balance, beginning of period: Liability for unpaid losses and loss adjustment expenses $ 190,459 $ 139,662 Reinsurance recoverables on losses 37,575 21,200 Net balance, beginning of period 152,884 118,462 Incurred related to: Current year 126,854 157,214 Prior years 9,477 (8,490 ) Total incurred 136,331 148,724 Paid related to: Current year 50,010 59,634 Prior years 60,675 41,717 Total paid 110,685 101,351 Balance, end of period: Liability for unpaid losses and loss adjustment expenses 232,038 182,876 Reinsurance recoverables on losses 53,508 17,041 Net balance, end of period $ 178,530 $ 165,835 During the six months ended June 30, 2023, the Company’s incurred reported losses and loss adjustment expenses included $9,477 of net unfavorable development on prior accident years, primarily attributable to Direct Auto and Westminster. During the six months ended June 30, 2022, the Company’s incurred reported losses and loss adjustment expenses included $8,490 of net favorable development on prior accident years, primarily attributable to Direct Auto, Battle Creek, and American West. Changes in unpaid losses and loss adjustment expense reserves are generally the result of ongoing analysis of recent loss development trends. As additional information becomes known regarding individual claims, original estimates are increased or decreased accordingly.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2023
Property and Equipment [Abstract]
Property and Equipment	8. Property and Equipment Property and equipment consisted of the following: June 30, 2023 December 31, 2022 Estimated Useful Life Cost: Land $ 1,403 $ 1,403 indefinite Building and improvements 14,491 14,271 10 – 43 years Electronic data processing equipment 1,637 1,310 5 – 7 years Furniture and fixtures 2,968 2,919 5 – 7 years Automobiles 1,317 1,310 2 – 3 years Gross cost 21,816 21,213 Accumulated depreciation (11,540 ) (11,370 ) Total property and equipment, net $ 10,276 $ 9,843 Depreciation expense was $188 and $176 for the three months ended June 30, 2023 and 2022, respectively, and $370 and $344 for the six months ended June 30, 2023 and 2022, respectively.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	9. Goodwill and Other Intangibles Goodwill The following table presents the carrying amount of the Company’s goodwill by segment: June 30, 2023 December 31, 2022 Non-standard auto from acquisition of Primero $ 2,628 $ 2,628 Commercial from acquisition of Westminster 6,756 6,756 Total $ 9,384 $ 9,384 Other Intangible Assets The following table presents the carrying amount of the Company’s other intangible assets: June 30, 2023 Gross Carrying Accumulated Net Subject to amortization: Trade names $ 748 $ 415 $ 333 Distribution network 6,700 1,303 5,397 Total subject to amortization 7,448 1,718 5,730 Not subject to amortization: State insurance licenses 1,900 — 1,900 Total $ 9,348 $ 1,718 $ 7,630 December 31, 2022 Gross Carrying Accumulated Net Subject to amortization: Trade names $ 748 $ 365 $ 383 Distribution network 6,700 1,117 5,583 Total subject to amortization 7,448 1,482 5,966 Not subject to amortization: State insurance license 1,900 — 1,900 Total $ 9,348 $ 1,482 $ 7,866 Amortization expense was $118 and $118 for the three months ended June 30, 2023 and 2022, respectively, and $236 and $236 for the six months ended June 30, 2023 and 2022, respectively. Other intangible assets that have finite lives, including trade names and distribution networks, are amortized over their useful lives. As of June 30, 2023, the estimated amortization of other intangible assets with finite lives for each of the five years in the period ending December 31, 2027, and thereafter is as follows: Year ending December 31, 2023 (six months remaining) $ 219 2024 422 2025 422 2026 422 2027 422 Thereafter 3,823 Total other intangible assets with finite lives $ 5,730

Royalties, Dividends, and Affil

Royalties, Dividends, and Affiliations	6 Months Ended
	Jun. 30, 2023
Royalties, Dividends, and Affiliations [Member]
Royalties, Dividends, and Affiliations	10. Royalties, Dividends, and Affiliations North Dakota Farm Bureau Nodak Insurance was organized by the North Dakota Farm Bureau (“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 policies. Royalties paid to the NDFB were $442 and $405 during the three months ended June 30, 2023 and 2022, respectively, and $799 and $744 for the six months ended June 30, 2023 and 2022, respectively. Royalty amounts payable of $167 and $119 were accrued as a liability to the NDFB at June 30, 2023, and December 31, 2022, respectively. Dividends 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 requirements that may further affect their ability to pay dividends. Our insurance subsidiaries statutory capital and surplus at December 31, 2022, exceeded the amount of statutory capital and surplus necessary to satisfy risk-based capital requirements by a significant margin. For information regarding the availability of subsidiaries to pay dividends to NI Holdings during 2023, see Item II, Part 8, Note 12 “Related Party Transactions” section of the 2022 Annual Report. Battle Creek Mutual Insurance Company The following tables disclose the standalone balance sheets and statements of operations of Battle Creek, prior to intercompany eliminations, to illustrate the impact of including Battle Creek in our Consolidated Balance Sheets and Statements of Operations: June 30, 2023 December 31, 2022 Assets: Cash and cash equivalents $ 4,321 $ 5,008 Investments 13,931 13,350 Premiums and agents’ balances receivable 5,606 5,422 Deferred policy acquisition costs 682 595 Reinsurance recoverables on losses (2) 12,641 12,597 Accrued investment income 60 59 Income tax recoverable — 225 Deferred income taxes 800 780 Property and equipment 313 319 Other assets 61 52 Total assets $ 38,415 $ 38,407 Liabilities: Unpaid losses and loss adjustment expenses $ 5,218 $ 6,453 Unearned premiums 3,698 2,959 Notes payable (1) 3,000 3,000 Pooling payable (1) 7,699 8,337 Reinsurance losses payable (2) 13,783 13,125 Accrued expenses and other liabilities 3,083 2,303 Total liabilities 36,481 36,177 Equity: Non-controlling interest 1,934 2,230 Total equity 1,934 2,230 Total liabilities and equity $ 38,415 $ 38,407 (1) Amount fully eliminated in consolidation. (2) Amount partly eliminated in consolidation. Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues: Net premiums earned $ 1,882 $ 1,690 $ 3,435 $ 3,082 Fee and other income (expenses) 7 (2 ) 17 (7 ) Net investment income 80 27 147 40 Total revenues 1,969 1,715 3,599 3,115 Expenses: Losses and loss adjustment expenses 1,550 2,171 2,727 2,974 Amortization of deferred policy acquisition costs 411 325 783 637 Other underwriting and general expenses 155 157 318 274 Total expenses 2,116 2,653 3,828 3,885 Loss before income taxes (147 ) (938 ) (229 ) (770 ) Income tax expense (benefit) (34 ) (212 ) 174 (174 ) Net loss $ (113 ) $ (726 ) $ (403 ) $ (596 )

Benefit Plans

Benefit Plans	6 Months Ended
	Jun. 30, 2023
Benefit Plans [Abstract]
Benefit Plans	11. Benefit Plans Nodak Insurance sponsors a 401(k) plan with an automatic and matching contribution for eligible employees at Nodak Insurance, Primero, and Direct Auto. Westminster also sponsors a separate 401(k) plan. American West and Battle Creek have no employees. The Company reported expenses related to the 401(k) plans totaling $189 and $187 during the three months ended June 30, 2023 and 2022, respectively, and $378 and $335 during the six months ended June 30, 2023 and 2022, respectively. Nodak Insurance also contributes an additional elective amount of employee compensation as a profit-sharing contribution for eligible employees that is invested in a portfolio of investments directed by the Company. The reported expenses related to this profit-sharing contribution were $32 and $242 during the three months ended June 30, 2023 and 2022, respectively, and $281 and $432 during the six months ended June 30, 2023 and 2022, respectively. All fees associated with the plans are deducted from the eligible employee accounts. The Company also offers a non-qualified deferred compensation plan to key executives of the Company (as designated by the Board of Directors). The Company’s policy is to fund the plan by amounts that represent the excess of the maximum contribution allowed by the Employee Retirement Income Security Act over the key executives’ allowable 401(k) contribution. The plan also allows employee-directed deferral of key executives’ compensation or incentive payments. The Company reported expenses related to this plan totaling $76 and $23 during the three months ended June 30, 2023 and 2022, respectively, and $98 and $127 during the six months ended June 30, 2023 and 2022, respectively. In connection with our initial public offering (“IPO”) in March 2017, the Company established its 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 invests solely in common stock of the Company. Upon establishment of the ESOP, Nodak Insurance loaned $2,400 to the ESOP’s related trust (the “ESOP Trust”). The ESOP loan was for a period of ten The shares purchased by the ESOP Trust in the offering are held in a suspense account as collateral for the ESOP loan. Nodak Insurance makes 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 are released from the suspense account and allocated to participant accounts at the end of the calendar year. This release and allocation occurs on an annual basis over the ten-year term of the ESOP loan. Nodak Insurance has 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 ESOP participants are employees of Nodak Insurance. The employees of Primero, Direct Auto, and Westminster do not participate in the ESOP. Each employee of Nodak Insurance automatically becomes 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 receive annual reports from the Company showing the number of shares of common stock of the Company allocated to the participants’ accounts 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 establishment of the ESOP, the Company created a contra-equity account on the 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 IPO. As shares are released from the ESOP suspense account, the contra-equity account is credited, which reduces the impact of the contra-equity account on the Company’s Consolidated Balance Sheet over time. The Company records compensation expense related to the shares released, 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 related to the ESOP of $83 and $101 during the three months ended June 30, 2023 and 2022, respectively, and $164 and $210 during the six months ended June 30, 2023 and 2022, respectively. Through June 30, 2023, and December 31, 2022, the Company had released and allocated 145,890 ESOP shares to participants, with a remainder of 94,110 ESOP shares in suspense at June 30, 2023, and December 31, 2022. Using the Company’s quarter-end market price of $14.85 per share, the fair value of the unearned ESOP shares was $1,398 at June 30, 2023.

Line of Credit

Line of Credit	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Line of Credit	12. Line of Credit Nodak Insurance has a $5,000 line of credit with Wells Fargo Bank, N.A. The terms of the line of credit include a floating interest rate of the bank’s Prime Rate with a floor rate of 3.25%. There were no

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Taxes [Abstract]
Income Taxes	13. Income Taxes At June 30, 2023, and December 31, 2022, 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- and six-month periods ended June 30, 2023 or the year ended December 31, 2022. At June 30, 2023, and December 31, 2022, the Company, other than Battle Creek and Westminster, had no income tax related carryforwards 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 net operating loss carryforwards of $3,963 at December 31, 2022. These net operating loss carryforwards expire through 2032. Westminster, which became part of the Company’s consolidated federal income tax return beginning in 2020, had a $1,270 net operating loss carryforward at December 31, 2022. This net operating loss carryforward expires in 2023. As of June 30, 2023, federal income tax years 2019 through 2021 remain open for examination.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	14. Leases Primero leases a facility in Spearfish, South Dakota under a non-cancellable operating lease expiring in 2028, and leases a facility in Las Vegas, Nevada on a month-to-month basis. Direct Auto leases a facility in Chicago, Illinois under a non-cancellable operating lease expiring in 2029. Nodak Insurance leases a facility in Fargo, North Dakota under a non-cancellable operating lease expiring in 2024. Effective for the year ended December 31, 2022, the Company adopted the updated guidance for leases. This guidance was adopted in the fourth quarter of 2022, and accordingly, the expense amounts for the periods ended June 30, 2023, are not comparable to the periods ended June 30, 2022. See Part II, Item 8, Note 2 “Recent Accounting Pronouncements” in the 2022 Annual Report for additional information. Under the new guidance, lease expense for these operating leases is recognized on a straight-line basis over the term of the lease, and a right-of-use asset and lease liability is recognized as part of other assets and other liabilities, respectively, in the Consolidated Balance Sheet at the origination of the lease. We currently do not have leases that include options to purchase or provisions that would automatically transfer ownership of the leased property to the Company. We determine whether a contract is or contains a lease at the inception of the contract. A contract will be deemed to be or contain a lease if the contract conveys the right to control and directs the use of identified property or equipment for a period of time in exchange for consideration. We generally must also have the right to obtain substantially all of the economic benefits from the use of the property and equipment. Operating lease assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. To determine the present value of lease payments not yet paid, we estimate incremental borrowing rates based on the floating interest rate on our Line of Credit with Wells Fargo Bank, N.A. at the lease commencement date, as rates are not implicitly stated in most leases. Additional information regarding our operating leases are as follows: As of and For the Three Months As of and For the Six Months 2023 2022 2023 2022 Operating lease expense $ 98 $ 98 $ 196 $ 196 Other information on operating leases: Operating cash outflow from operating leases 103 69 204 137 Right-of-use assets obtained in exchange for new lease liabilities 247 — 247 — Weighted average discount rate 3.95% 3.25% 3.95% 3.25% Weighted average remaining lease term in years 5.8 years 6.6 years 5.8 years 6.6 years The following table presents the contractual maturities of our operating leases for each of the five years in the period ending December 31, 2027, and thereafter, reconciled to our operating lease liability at June 30, 2023: Year ending December 31, 2023 (six months remaining) $ 195 2024 381 2025 346 2026 351 2027 356 Thereafter 509 Total undiscounted lease payments 2,138 Less: present value adjustment 219 Operating lease liability at June 30, 2023 $ 1,919

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	15. 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.

Common and Preferred Stock

Common and Preferred Stock	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Common and Preferred Stock	16. Common and Preferred Stock Changes in the number of common stock shares outstanding are as follows: Six Months Ended June 30, 2023 2022 Shares outstanding, beginning of period 21,076,255 21,219,808 Treasury shares repurchased through stock repurchase authorization (238,164 ) (111,244 ) Issuance of treasury shares for vesting of restricted stock units 47,887 101,292 Shares outstanding, end of period 20,885,978 21,209,856 The changes in the number of common shares outstanding excludes certain non-forfeitable stock award shares that are included in the weighted average common shares outstanding used in basic earnings per common share calculations. In addition, the net loss per diluted common share for the three- and six-month periods ended June 30, 2023, excluded the weighted average effects of 61,935 and 61,614 shares of stock awards, respectively, since the impacts of these potential shares of common stock were anti-dilutive. On August 11, 2021, our Board of Directors approved an authorization for the repurchase of up to approximately $5,000 of the Company’s outstanding common stock. During the year ended December 31, 2021, we completed the repurchase of 81,095 shares of our common stock for $1,554 under this authorization. During the year ended December 31, 2022, we completed the repurchase of 214,937 shares of our common stock for $3,446 to close out this authorization. Of these amounts, 111,244 shares were repurchased for $1,932 during the six months ended June 30, 2022. On May 9, 2022, our Board of Directors approved an authorization for the repurchase of up to approximately $10,000 of the Company’s outstanding common stock. During the year ended December 31, 2022, we completed the repurchase of 54,223 shares of our common stock for $734 under this authorization. During the six months ended June 30, 2023, we completed the repurchase of 238,164 shares of our common stock for $3,223. At June 30, 2023, $6,043 remains available under this authorization. The cost of this treasury stock is a reduction of shareholders’ equity within our Consolidated Balance Sheets. On August 16, 2022, the U.S. government enacted the Inflation Reduction Act (“IRA”) which, among other changes, created a new corporate alternative minimum tax (“AMT”) based on adjusted financial statement income and imposes a 1% excise tax on corporate stock repurchases, subject to certain adjustments. The effective date of these provisions was January 1, 2023. The Company is not currently subject to the AMT based on our reported GAAP earnings for the past three years and does not expect the IRA to have a material impact on the Company’s financial position and results of operations. Preferred Stock The Company’s Articles of Incorporation provide authority to issue up to five million shares of preferred stock. No preferred shares are issued or outstanding.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Compensation [Abstract]
Share-Based Compensation	17. Share-Based Compensation The NI Holdings, Inc. 2020 Stock and Incentive Plan (the “Plan”) is designed to promote the interests of the Company and its shareholders by aiding the Company in attracting and retaining employees, officers, consultants, independent contractors, 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, and to afford such persons an opportunity to acquire an ownership interest 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 may be issued under the Plan shall not exceed 1,000,000 shares, subject to adjustments as provided in the Plan. No eligible participant may be granted any awards for more than 100,000 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 $150 in any calendar year. Restricted Stock Units The Compensation Committee has 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 vest 20% per year over a five-year period, while RSUs granted to non-employee directors vest 100% on the date of the next annual meeting of shareholders following the grant date. 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. The Company recognizes stock-based compensation costs for RSUs based on the grant date fair value. The compensation costs are normally expensed over the vesting periods to each vesting date; however, the cost of RSUs granted to executives are expensed immediately if the executive has met certain retirement criteria and the RSUs become non-forfeitable. Estimated forfeitures are included in the determination of compensation costs. No forfeitures are currently estimated. A summary of the Company’s outstanding and unearned RSUs is presented below: RSUs Weighted-Average Units outstanding and unearned at January 1, 2022 108,380 $ 16.86 RSUs granted during 2022 59,600 17.61 RSUs earned during 2022 (52,620 ) 17.39 Units outstanding and unearned at December 31, 2022 115,360 17.00 RSUs granted during 2023 85,000 13.76 RSUs earned during 2023 (53,780 ) 16.32 Units outstanding and unearned at June 30, 2023 146,580 15.37 The following table shows the impact of RSU activity to the Company’s financial results: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 RSU compensation expense $ 257 $ 225 $ 559 $ 498 Income tax benefit (58 ) (51 ) (127 ) (113 ) RSU compensation expense, net of income taxes $ 199 $ 174 $ 432 $ 385 At June 30, 2023, there was $1,427 of unrecognized compensation cost related to outstanding RSUs. That cost is expected to be recognized over a weighted-average period of 1.84 years. Performance Share Units The Compensation Committee has 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 adjusted 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 for PSUs based on the grant date fair value over the performance period of the awards. Estimated forfeitures are included in the determination of compensation costs. The current cost estimates represent the Company’s forecasted performance against cumulative growth targets. A summary of the Company’s outstanding PSUs is presented below: PSUs Weighted-Average Fair Value Per Share Units outstanding at January 1, 2022 190,600 $ 16.06 PSUs granted during 2022 (at target) 61,800 18.10 PSUs earned during 2022 (86,684 ) 15.21 Performance adjustment (1) 31,200 15.21 Forfeitures (6,916 ) 15.21 Units outstanding at December 31, 2022 190,000 17.00 PSUs granted during 2023 (at target) 87,400 13.85 PSUs earned during 2023 — — Performance adjustment (1) (63,600 ) 14.26 Forfeitures — — Units outstanding at June 30, 2023 213,800 16.53 (1) The following table shows the impact of PSU activity to the Company’s financial results: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 PSU compensation expense $ 139 $ 262 $ 277 $ 523 Income tax benefit (32 ) (60 ) (63 ) (119 ) PSU compensation expense, net of income taxes $ 107 $ 202 $ 214 $ 404 The cost estimates for PSU grants represent initial target awards until we can reasonably forecast the financial performance of each PSU award grant. At the end of the performance period, we will reflect a performance adjustment, which may be either an increase or decrease from the initial target awards. 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 June 30, 2023, there was $1,316 of unrecognized compensation cost related to outstanding PSUs. That cost is expected to be recognized over a weighted-average period of 2.44 years.

Allowance for Expected Credit L

Allowance for Expected Credit Losses	6 Months Ended
	Jun. 30, 2023
Allowance for Expected Credit Losses [Abstract]
Allowance for Expected Credit Losses	18. Allowance for Expected Credit Losses Premiums Receivable Beginning on December 31, 2022, credit losses are recognized through an allowance account developed using the new CECL model. This guidance was adopted in the fourth quarter of 2022, and accordingly, there was no allowance for expected credit losses as of June 30, 2022. See the Part II, Item 8, Note 2 “Recent Accounting Pronouncements” section of the 2022 Annual Report for additional information. The following table presents the balances of premiums and agents’ receivable balances, net of the allowance for expected credit losses as of June 30, 2023, and the changes in the allowance for expected credit losses for the three and six months ended June 30, 2023. As of and For the Three Months Ended Premiums Allowance for Balance, beginning of period $ 64,502 $ 445 Current period charge for expected credit losses 189 Write-offs of uncollectible premiums receivable 200 Balance, end of period $ 106,946 $ 434 As of and For the Six Months Ended Premiums Allowance for Balance, beginning of period $ 62,173 $ 425 Current period charge for expected credit losses 278 Write-offs of uncollectible premiums receivable 269 Balance, end of period $ 106,946 $ 434

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	19. Segment Information We have six reportable operating segments, which consist of private passenger auto insurance, non-standard auto insurance, home and farm insurance, crop insurance, commercial insurance, and all other (which primarily consists of assumed reinsurance and our excess liability business). We operate only in the U.S., 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- and six-month periods ended June 30, 2023 and 2022. For purposes of evaluating profitability of the non-standard auto segment, we combine 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 tables below. The remaining fee and other income amounts are not allocated to any segment. We do not assign or allocate all line items in our Unaudited Consolidated Statement of Operations or Unaudited Consolidated Balance Sheet to our operating segments. Those line items include investment income, net investment gains (losses), fee and other income excluding non-standard auto, and income tax expense (benefit) within the Unaudited Consolidated Statement of Operations. For the Unaudited Consolidated Balance Sheet, those items include cash and investments, property and equipment, other assets, accrued expenses, income taxes recoverable or payable, and shareholders’ equity. Three Months Ended June 30, 2023 Private Non-Standard Home and Crop Commercial All Other Total Direct premiums earned $ 21,508 $ 21,744 $ 22,995 $ 17,526 $ 21,076 $ 1,313 $ 106,162 Assumed premiums earned — — — 501 — 326 827 Ceded premiums earned (965 ) (99 ) (2,580 ) (4,691 ) (4,435 ) (73 ) (12,843 ) Net premiums earned 20,543 21,645 20,415 13,336 16,641 1,566 94,146 Direct losses and loss adjustment expenses 18,455 14,139 18,414 12,702 29,685 1,754 95,149 Assumed losses and loss adjustment expenses — — — — — 67 67 Ceded losses and loss adjustment expenses 411 — (499 ) (4,492 ) (11,556 ) (1,574 ) (17,710 ) Net losses and loss adjustment expenses 18,866 14,139 17,915 8,210 18,129 247 77,506 Gross margin 1,677 7,506 2,500 5,126 (1,488 ) 1,319 16,640 Underwriting and general expenses 5,754 8,684 6,150 2,648 6,249 389 29,874 Underwriting gain (loss) (4,077 ) (1,178 ) (3,650 ) 2,478 (7,737 ) 930 (13,234 ) Fee and other income 239 499 (939 ) Net investment income 2,505 Net investment gains (losses) (174 ) Loss before income taxes (10,404 ) Income tax benefit (2,169 ) Net loss (8,235 ) Net loss attributable to non-controlling interest (113 ) Net loss attributable to NI Holdings, Inc. $ (8,122 ) Operating Ratios: Loss and loss adjustment expense ratio 91.8% 65.3% 87.8% 61.6% 108.9% 15.8% 82.3% Expense ratio 28.0% 40.1% 30.1% 19.9% 37.6% 24.8% 31.7% Combined ratio 119.8% 105.4% 117.9% 81.5% 146.5% 40.6% 114.0% Balances at June 30, 2023: Premiums and agents’ balances receivable $ 23,840 $ 10,322 $ 9,793 $ 44,951 $ 17,213 $ 827 $ 106,946 Deferred policy acquisition costs 5,785 8,871 7,974 2,832 8,198 464 34,124 Reinsurance recoverables on losses 727 — 4,691 3,114 42,635 2,341 53,508 Receivable from Federal Crop Insurance Corporation — — — 14,032 — — 14,032 Goodwill and other intangibles — 2,736 — — 14,278 — 17,014 Unpaid losses and loss adjustment expenses 31,935 52,866 30,503 11,603 96,390 8,741 232,038 Unearned premiums 35,317 28,067 48,690 27,193 43,066 3,017 185,350 Three Months Ended June 30, 2022 Private Non-Standard Home and Crop Commercial All Other Total Direct premiums earned $ 19,824 $ 15,577 $ 21,703 $ 17,709 $ 18,161 $ 1,277 $ 94,251 Assumed premiums earned — — — 491 — 1,200 1,691 Ceded premiums earned (559 ) (65 ) (1,748 ) (5,905 ) (3,130 ) (39 ) (11,446 ) Net premiums earned 19,265 15,512 19,955 12,295 15,031 2,438 84,496 Direct losses and loss adjustment expenses 16,866 4,133 62,188 13,237 13,081 1,165 110,670 Assumed losses and loss adjustment expenses — — — 244 — 1,291 1,535 Ceded losses and loss adjustment expenses (12 ) — (357 ) (3,151 ) (90 ) — (3,610 ) Net losses and loss adjustment expenses 16,854 4,133 61,831 10,330 12,991 2,456 108,595 Gross margin 2,411 11,379 (41,876 ) 1,965 2,040 (18 ) (24,099 ) Underwriting and general expenses 5,553 6,867 6,056 1,609 5,576 585 26,246 Underwriting gain (loss) (3,142 ) 4,512 (47,932 ) 356 (3,536 ) (603 ) (50,345 ) Fee and other income 254 415 4,766 Net investment income 2,015 Net investment gains (losses) (11,136 ) Loss before income taxes (59,051 ) Income tax benefit (12,415 ) Net loss (46,636 ) Net loss attributable to non-controlling interest (726 ) Net loss attributable to NI Holdings, Inc. $ (45,910 ) Operating Ratios: Loss and loss adjustment expense ratio 87.5% 26.6% 309.9% 84.0% 86.4% 100.7% 128.5% Expense ratio 28.8% 44.3% 30.3% 13.1% 37.1% 24.0% 31.1% Combined ratio 116.3% 70.9% 340.2% 97.1% 123.5% 124.7% 159.6% Balances at June 30, 2022: Premiums and agents’ balances receivable $ 21,287 $ 16,678 $ 10,468 $ 42,905 $ 16,175 $ 823 $ 108,336 Deferred policy acquisition costs 5,427 8,201 7,838 1,060 7,929 462 30,917 Reinsurance recoverables on losses 591 — 2,766 1,976 10,960 748 17,041 Goodwill and other intangibles — 2,786 — — 14,700 — 17,486 Unpaid losses and loss adjustment expenses 29,105 38,689 49,052 12,755 43,876 9,399 182,876 Unearned premiums 31,885 24,030 45,942 26,205 42,379 3,284 173,725 Payable to Federal Crop Insurance Corporation — — — 7,102 — — 7,102 Six Months Ended June 30, 2023 Private Non-Standard Home and Crop Commercial All Other Total Direct premiums earned $ 42,050 $ 42,716 $ 45,426 $ 17,516 $ 41,306 $ 2,622 $ 191,636 Assumed premiums earned — — — 501 — 902 1,403 Ceded premiums earned (1,853 ) (192 ) (5,021 ) (5,405 ) (8,648 ) (147 ) (21,266 ) Net premiums earned 40,197 42,524 40,405 12,612 32,658 3,377 171,773 Direct losses and loss adjustment expenses 34,080 31,177 27,937 12,032 59,007 1,777 166,010 Assumed losses and loss adjustment expenses — — — — — 157 157 Ceded losses and loss adjustment expenses 412 — (1,303 ) (4,596 ) (22,764 ) (1,585 ) (29,836 ) Net losses and loss adjustment expenses 34,492 31,177 26,634 7,436 36,243 349 136,331 Gross margin 5,705 11,347 13,771 5,176 (3,585 ) 3,028 35,442 Underwriting and general expenses 12,172 17,677 12,355 2,680 12,336 898 58,118 Underwriting gain (loss) (6,467 ) (6,330 ) 1,416 2,496 (15,921 ) 2,130 (22,676 ) Fee and other income 471 773 (5,859 ) Net investment income 4,744 Net investment gains (losses) 1,242 Loss before income taxes (15,917 ) Income tax benefit (3,182 ) Net loss (12,735 ) Net loss attributable to non-controlling interest (403 ) Net loss attributable to NI Holdings, Inc. $ (12,332 ) Operating Ratios: Loss and loss adjustment expense ratio 85.8% 73.3% 65.9% 59.0% 111.0% 10.3% 79.4% Expense ratio 30.3% 41.6% 30.6% 21.2% 37.8% 26.6% 33.8% Combined ratio 116.1% 114.9% 96.5% 80.2% 148.8% 36.9% 113.2% Six Months Ended June 30, 2022 Private Non-Standard Home and Crop Commercial All Other Total Direct premiums earned $ 39,125 $ 30,019 $ 42,882 $ 17,692 $ 35,391 $ 2,541 $ 167,650 Assumed premiums earned — — — 491 — 3,061 3,552 Ceded premiums earned (1,118 ) (129 ) (3,715 ) (5,901 ) (6,172 ) (84 ) (17,119 ) Net premiums earned 38,007 29,890 39,167 12,282 29,219 5,518 154,083 Direct losses and loss adjustment expenses 31,392 12,624 69,380 13,134 28,144 1,491 156,165 Assumed losses and loss adjustment expenses — — — 244 — 1,301 1,545 Ceded losses and loss adjustment expenses 173 — (709 ) (3,214 ) (5,136 ) (100 ) (8,986 ) Net losses and loss adjustment expenses 31,565 12,624 68,671 10,164 23,008 2,692 148,724 Gross margin 6,442 17,266 (29,504 ) 2,118 6,211 2,826 5,359 Underwriting and general expenses 11,321 12,958 12,029 1,057 10,912 1,373 49,650 Underwriting gain (loss) (4,879 ) 4,308 (41,533 ) 1,061 (4,701 ) 1,453 (44,291 ) Fee and other income 642 843 4,950 Net investment income 3,668 Net investment gains (losses) (16,664 ) Loss before income taxes (56,444 ) Income tax benefit (11,847 ) Net loss (44,597 ) Net loss attributable to non-controlling interest (596 ) Net loss attributable to NI Holdings, Inc. $ (44,001 ) Operating Ratios: Loss and loss adjustment expense ratio 83.1% 42.2% 175.3% 82.8% 78.7% 48.8% 96.5% Expense ratio 29.8% 43.4% 30.7% 8.6% 37.3% 24.9% 32.2% Combined ratio 112.8% 85.6% 206.0% 91.4% 116.1% 73.7% 128.7%

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2023
Organization [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. All material intercompany transactions and balances have been eliminated. These financial statements should be read in conjunction with the financial statements and notes thereto included in our 2022 Annual Report. The Consolidated Balance Sheet at December 31, 2022, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of the interim unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim unaudited consolidated financial statements and the reported amounts of revenues, claims, and expenses during the reporting period. Actual results could differ from those estimates. Operating results for the interim periods ended June 30, 2023, are not necessarily indicative of the results that may be expected for the year ended December 31, 2023. Our 2022 Annual Report describes the accounting policies and estimates that are critical to the understanding of our results of operations, financial condition, and liquidity. The accounting policies and estimation processes described in the 2022 Annual Report were consistently applied to the unaudited consolidated financial statements as of and for the six months ended June 30, 2023 and 2022.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Prior to December 31, 2022, we were classified as an emerging growth company (“EGC”) and elected to use the extended transition period for complying with certain new or revised financial accounting standards from the Financial Accounting Standards Board (“FASB”) pursuant to Section 13(a) of the Exchange Act. However, beginning on December 31, 2022, we are no longer an EGC and are now unable to delay adoption of these new or revised accounting standards, or to take advantage of reduced corporate governance disclosures. Adopted For information regarding accounting pronouncements that the Company adopted during the periods presented, see Item II, Part 8, Note 2 “Recent Accounting Pronouncements” section of the 2022 Annual Report.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2023
Investments [Abstract]
Schedule of amortized cost and estimated fair value of income securities	June 30, 2023 Cost or Allowance for Gross Gross Fair Value Fixed income securities: U.S. Government and agencies $ 9,941 $ — $ — $ (909 ) $ 9,032 Obligations of states and political subdivisions 58,753 — 64 (5,407 ) 53,410 Corporate securities 150,137 — 132 (14,403 ) 135,866 Residential mortgage-backed securities 62,623 — 35 (5,886 ) 56,772 Commercial mortgage-backed securities 30,300 — — (4,837 ) 25,463 Asset-backed securities 53,025 — 29 (4,703 ) 48,351 Redeemable preferred stocks 4,747 — — (652 ) 4,095 Total fixed income securities $ 369,526 $ — $ 260 $ (36,797 ) $ 332,989 December 31, 2022 Cost or Allowance for Gross Gross Fair Value Fixed income securities: U.S. Government and agencies $ 11,174 $ — $ 1 $ (1,008 ) $ 10,167 Obligations of states and political subdivisions 60,342 — 38 (6,454 ) 53,926 Corporate securities 136,837 — 109 (15,787 ) 121,159 Residential mortgage-backed securities 53,254 — 85 (5,846 ) 47,493 Commercial mortgage-backed securities 30,837 — — (4,702 ) 26,135 Asset-backed securities 45,786 — — (5,061 ) 40,725 Redeemable preferred stocks 4,747 — — (1,028 ) 3,719 Total fixed income securities $ 342,977 $ — $ 233 $ (39,886 ) $ 303,324
Schedule of fixed maturities	June 30, 2023 Amortized Cost Fair Value Due to mature: One year or less $ 12,199 $ 11,948 After one year through five years 79,650 74,773 After five years through ten years 85,000 75,928 After ten years 41,982 35,659 Mortgage / asset-backed securities 145,948 130,586 Redeemable preferred stocks 4,747 4,095 Total fixed income securities $ 369,526 $ 332,989 December 31, 2022 Amortized Cost Fair Value Due to mature: One year or less $ 10,130 $ 9,971 After one year through five years 81,879 77,031 After five years through ten years 76,648 65,966 After ten years 39,696 32,284 Mortgage / asset-backed securities 129,877 114,353 Redeemable preferred stocks 4,747 3,719 Total fixed income securities $ 342,977 $ 303,324
Schedule of gross unrealized loss	June 30, 2023 Less than 12 Months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: U.S. Government and agencies $ — $ — $ 9,032 $ (909 ) $ 9,032 $ (909 ) Obligations of states and political subdivisions 7,234 (431 ) 40,295 (4,976 ) 47,529 (5,407 ) Corporate securities 17,414 (418 ) 108,662 (13,985 ) 126,076 (14,403 ) Residential mortgage-backed securities 14,358 (260 ) 32,757 (5,626 ) 47,115 (5,886 ) Commercial mortgage-backed securities 2,033 (56 ) 23,155 (4,781 ) 25,188 (4,837 ) Asset-backed securities 12,063 (185 ) 34,836 (4,518 ) 46,899 (4,703 ) Redeemable preferred stocks — — 4,095 (652 ) 4,095 (652 ) Total fixed income securities $ 53,102 $ (1,350 ) $ 252,832 $ (35,447 ) $ 305,934 $ (36,797 ) December 31, 2022 Less than 12 Months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: U.S. Government and agencies $ 7,078 $ (537 ) $ 2,587 $ (471 ) $ 9,665 $ (1,008 ) Obligations of states and political subdivisions 40,213 (3,554 ) 9,045 (2,900 ) 49,258 (6,454 ) Corporate securities 76,645 (7,944 ) 39,683 (7,843 ) 116,328 (15,787 ) Residential mortgage-backed securities 21,017 (1,805 ) 18,519 (4,041 ) 39,536 (5,846 ) Commercial mortgage-backed securities 18,932 (2,674 ) 7,204 (2,028 ) 26,136 (4,702 ) Asset-backed securities 18,904 (1,522 ) 21,809 (3,539 ) 40,713 (5,061 ) Redeemable preferred stocks 3,015 (732 ) 705 (296 ) 3,720 (1,028 ) Total fixed income securities $ 185,804 $ (18,768 ) $ 99,552 $ (21,118 ) $ 285,356 $ (39,886 )
Schedule of Net Investment Income	Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Fixed income securities $ 2,781 $ 2,406 $ 5,411 $ 4,567 Equity securities 283 395 603 724 Real estate 156 75 306 241 Cash and cash equivalents 94 10 146 12 Total gross investment income 3,314 2,886 6,466 5,544 Investment expenses 809 871 1,722 1,876 Net investment income $ 2,505 $ 2,015 $ 4,744 $ 3,668
Schedule of net investment gains (losses)	Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Gross realized gains: Fixed income securities $ — $ 5 $ — $ 51 Equity securities 357 1,196 13,088 2,269 Total gross realized gains 357 1,201 13,088 2,320 Gross realized losses, excluding credit impairment losses: Fixed income securities (188 ) (110 ) (487 ) (113 ) Equity securities (288 ) (64 ) (1,134 ) (242 ) Total gross realized losses, excluding credit impairment losses (476 ) (174 ) (1,621 ) (355 ) Net realized gains (losses) (119 ) 1,027 11,467 1,965 Change in net unrealized gain on equity securities (55 ) (12,163 ) (10,225 ) (18,629 ) Net investment gains (losses) $ (174 ) $ (11,136 ) $ 1,242 $ (16,664 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Measurements [Abstract]
Schedule of assets which are measured on a recurring basis	June 30, 2023 Total Level 1 Level 2 Level 3 Fixed income securities: U.S. Government and agencies $ 9,032 $ — $ 9,032 $ — Obligations of states and political subdivisions 53,410 — 53,410 — Corporate securities 135,866 — 135,866 — Residential mortgage-backed securities 56,772 — 56,772 — Commercial mortgage-backed securities 25,463 — 25,463 — Asset-backed securities 48,351 — 48,351 — Redeemable preferred stock 4,095 — 4,095 — Total fixed income securities 332,989 — 332,989 — Equity securities: Common stock 22,807 22,807 — — Non-redeemable preferred stock 1,847 1,847 — — Total equity securities 24,654 24,654 — — Cash equivalents 34,004 34,004 — — Total assets at fair value $ 391,647 $ 58,658 $ 332,989 $ — December 31, 2022 Total Level 1 Level 2 Level 3 Fixed income securities: U.S. Government and agencies $ 10,167 $ — $ 10,167 $ — Obligations of states and political subdivisions 53,926 — 53,926 — Corporate securities 121,159 — 121,159 — Residential mortgage-backed securities 47,493 — 47,493 — Commercial mortgage-backed securities 26,135 — 26,135 — Asset-backed securities 40,725 — 40,725 — Redeemable preferred stock 3,719 — 3,719 — Total fixed income securities 303,324 — 303,324 — Equity securities: Common stock 50,699 50,699 — — Non-redeemable preferred stock 1,694 1,694 — — Total equity securities 52,393 52,393 — — Cash equivalents 27,255 27,255 — — Total assets at fair value $ 382,972 $ 79,648 $ 303,324 $ —

Reinsurance (Tables)

Reinsurance (Tables)	6 Months Ended
	Jun. 30, 2023
Reinsurance [Abstract]
Schedule of reconciliation of direct to net premiums on both a written and an earned basis	Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Premiums Written Premiums Earned Premiums Written Premiums Earned Direct premium $ 144,250 $ 106,162 $ 234,806 $ 191,636 Assumed premium 2,440 827 2,839 1,403 Ceded premium (20,439 ) (12,843 ) (28,898 ) (21,266 ) Net premiums $ 126,251 $ 94,146 $ 208,747 $ 171,773 Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Premiums Written Premiums Earned Premiums Written Premiums Earned Direct premium $ 144,962 $ 94,251 $ 220,495 $ 167,650 Assumed premium 3,226 1,691 5,087 3,552 Ceded premium (20,175 ) (11,446 ) (25,835 ) (17,119 ) Net premiums $ 128,013 $ 84,496 $ 199,747 $ 154,083
Schedule of reconciliation of direct to net losses and loss adjustment expenses	Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Direct losses and loss adjustment expenses $ 95,149 $ 110,670 $ 166,010 $ 156,165 Assumed losses and loss adjustment expenses 67 1,535 157 1,545 Ceded losses and loss adjustment expenses (17,710 ) (3,610 ) (29,836 ) (8,986 ) Net losses and loss adjustment expenses $ 77,506 $ 108,595 $ 136,331 $ 148,724
Schedule of pooling share percentages by insurance company	Pool Percentage Nodak Insurance Company 66.0% American West Insurance Company 7.0% Primero Insurance Company 3.0% Battle Creek Mutual Insurance Company 2.0% Direct Auto Insurance Company 13.0% Westminster American Insurance Company 9.0% Total 100.0%

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	6 Months Ended
	Jun. 30, 2023
ASU 2018-12 Transition [Abstract]
Schedule of deferred policy acquisition costs and asset reconciliation	Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance, beginning of period $ 31,350 $ 26,272 $ 29,768 $ 24,947 Deferral of policy acquisition costs 23,353 20,889 43,523 37,837 Amortization of deferred policy acquisition costs (20,579 ) (16,244 ) (39,167 ) (31,867 ) Balance, end of period $ 34,124 $ 30,917 $ 34,124 $ 30,917

Unpaid Losses and Loss Adjust_2

Unpaid Losses and Loss Adjustment Expenses (Tables)	6 Months Ended
	Jun. 30, 2023
Reinsurance [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: Six Months Ended June 30, 2023 2022 Balance, beginning of period: Liability for unpaid losses and loss adjustment expenses $ 190,459 $ 139,662 Reinsurance recoverables on losses 37,575 21,200 Net balance, beginning of period 152,884 118,462 Incurred related to: Current year 126,854 157,214 Prior years 9,477 (8,490 ) Total incurred 136,331 148,724 Paid related to: Current year 50,010 59,634 Prior years 60,675 41,717 Total paid 110,685 101,351 Balance, end of period: Liability for unpaid losses and loss adjustment expenses 232,038 182,876 Reinsurance recoverables on losses 53,508 17,041 Net balance, end of period $ 178,530 $ 165,835

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2023
Property and Equipment [Abstract]
Schedule of property and equipment	Property and equipment consisted of the following: June 30, 2023 December 31, 2022 Estimated Useful Life Cost: Land $ 1,403 $ 1,403 indefinite Building and improvements 14,491 14,271 10 – 43 years Electronic data processing equipment 1,637 1,310 5 – 7 years Furniture and fixtures 2,968 2,919 5 – 7 years Automobiles 1,317 1,310 2 – 3 years Gross cost 21,816 21,213 Accumulated depreciation (11,540 ) (11,370 ) Total property and equipment, net $ 10,276 $ 9,843

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill by segment	June 30, 2023 December 31, 2022 Non-standard auto from acquisition of Primero $ 2,628 $ 2,628 Commercial from acquisition of Westminster 6,756 6,756 Total $ 9,384 $ 9,384
Schedule of other intangible assets	June 30, 2023 Gross Carrying Accumulated Net Subject to amortization: Trade names $ 748 $ 415 $ 333 Distribution network 6,700 1,303 5,397 Total subject to amortization 7,448 1,718 5,730 Not subject to amortization: State insurance licenses 1,900 — 1,900 Total $ 9,348 $ 1,718 $ 7,630 December 31, 2022 Gross Carrying Accumulated Net Subject to amortization: Trade names $ 748 $ 365 $ 383 Distribution network 6,700 1,117 5,583 Total subject to amortization 7,448 1,482 5,966 Not subject to amortization: State insurance license 1,900 — 1,900 Total $ 9,348 $ 1,482 $ 7,866
Schedule of amortization of other intangible assets with finite lives	Other intangible assets that have finite lives, including trade names and distribution networks, are amortized over their useful lives. As of June 30, 2023, the estimated amortization of other intangible assets with finite lives for each of the five years in the period ending December 31, 2027, and thereafter is as follows: Year ending December 31, 2023 (six months remaining) $ 219 2024 422 2025 422 2026 422 2027 422 Thereafter 3,823 Total other intangible assets with finite lives $ 5,730

Royalties, Dividends, and Aff_2

Royalties, Dividends, and Affiliations (Tables)	6 Months Ended
	Jun. 30, 2023
Royalties, Dividends, and Affiliations [Member]
Schedule of impact of including battle creek in our consolidated balance sheets and statements of operations	The following tables disclose the standalone balance sheets and statements of operations of Battle Creek, prior to intercompany eliminations, to illustrate the impact of including Battle Creek in our Consolidated Balance Sheets and Statements of Operations: June 30, 2023 December 31, 2022 Assets: Cash and cash equivalents $ 4,321 $ 5,008 Investments 13,931 13,350 Premiums and agents’ balances receivable 5,606 5,422 Deferred policy acquisition costs 682 595 Reinsurance recoverables on losses (2) 12,641 12,597 Accrued investment income 60 59 Income tax recoverable — 225 Deferred income taxes 800 780 Property and equipment 313 319 Other assets 61 52 Total assets $ 38,415 $ 38,407 Liabilities: Unpaid losses and loss adjustment expenses $ 5,218 $ 6,453 Unearned premiums 3,698 2,959 Notes payable (1) 3,000 3,000 Pooling payable (1) 7,699 8,337 Reinsurance losses payable (2) 13,783 13,125 Accrued expenses and other liabilities 3,083 2,303 Total liabilities 36,481 36,177 Equity: Non-controlling interest 1,934 2,230 Total equity 1,934 2,230 Total liabilities and equity $ 38,415 $ 38,407 (1) Amount fully eliminated in consolidation. (2) Amount partly eliminated in consolidation. Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues: Net premiums earned $ 1,882 $ 1,690 $ 3,435 $ 3,082 Fee and other income (expenses) 7 (2 ) 17 (7 ) Net investment income 80 27 147 40 Total revenues 1,969 1,715 3,599 3,115 Expenses: Losses and loss adjustment expenses 1,550 2,171 2,727 2,974 Amortization of deferred policy acquisition costs 411 325 783 637 Other underwriting and general expenses 155 157 318 274 Total expenses 2,116 2,653 3,828 3,885 Loss before income taxes (147 ) (938 ) (229 ) (770 ) Income tax expense (benefit) (34 ) (212 ) 174 (174 ) Net loss $ (113 ) $ (726 ) $ (403 ) $ (596 )

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of operating leases	Additional information regarding our operating leases are as follows: As of and For the Three Months As of and For the Six Months 2023 2022 2023 2022 Operating lease expense $ 98 $ 98 $ 196 $ 196 Other information on operating leases: Operating cash outflow from operating leases 103 69 204 137 Right-of-use assets obtained in exchange for new lease liabilities 247 — 247 — Weighted average discount rate 3.95% 3.25% 3.95% 3.25% Weighted average remaining lease term in years 5.8 years 6.6 years 5.8 years 6.6 years
Schedule of contractual maturities of our operating leases	Year ending December 31, 2023 (six months remaining) $ 195 2024 381 2025 346 2026 351 2027 356 Thereafter 509 Total undiscounted lease payments 2,138 Less: present value adjustment 219 Operating lease liability at June 30, 2023 $ 1,919

Common and Preferred Stock (Tab

Common and Preferred Stock (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of changes in the number of common stock shares outstanding	Changes in the number of common stock shares outstanding are as follows: Six Months Ended June 30, 2023 2022 Shares outstanding, beginning of period 21,076,255 21,219,808 Treasury shares repurchased through stock repurchase authorization (238,164 ) (111,244 ) Issuance of treasury shares for vesting of restricted stock units 47,887 101,292 Shares outstanding, end of period 20,885,978 21,209,856

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Compensation [Abstract]
Schedule of restricted stock outstanding	A summary of the Company’s outstanding and unearned RSUs is presented below: RSUs Weighted-Average Units outstanding and unearned at January 1, 2022 108,380 $ 16.86 RSUs granted during 2022 59,600 17.61 RSUs earned during 2022 (52,620 ) 17.39 Units outstanding and unearned at December 31, 2022 115,360 17.00 RSUs granted during 2023 85,000 13.76 RSUs earned during 2023 (53,780 ) 16.32 Units outstanding and unearned at June 30, 2023 146,580 15.37
Schedule of RSU activity	The following table shows the impact of RSU activity to the Company’s financial results: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 RSU compensation expense $ 257 $ 225 $ 559 $ 498 Income tax benefit (58 ) (51 ) (127 ) (113 ) RSU compensation expense, net of income taxes $ 199 $ 174 $ 432 $ 385
Schedule of performance stock outstanding	A summary of the Company’s outstanding PSUs is presented below: PSUs Weighted-Average Fair Value Per Share Units outstanding at January 1, 2022 190,600 $ 16.06 PSUs granted during 2022 (at target) 61,800 18.10 PSUs earned during 2022 (86,684 ) 15.21 Performance adjustment (1) 31,200 15.21 Forfeitures (6,916 ) 15.21 Units outstanding at December 31, 2022 190,000 17.00 PSUs granted during 2023 (at target) 87,400 13.85 PSUs earned during 2023 — — Performance adjustment (1) (63,600 ) 14.26 Forfeitures — — Units outstanding at June 30, 2023 213,800 16.53 (1)
Schedule of PSU activity	The following table shows the impact of PSU activity to the Company’s financial results: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 PSU compensation expense $ 139 $ 262 $ 277 $ 523 Income tax benefit (32 ) (60 ) (63 ) (119 ) PSU compensation expense, net of income taxes $ 107 $ 202 $ 214 $ 404

Allowance for Expected Credit_2

Allowance for Expected Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2023
Allowance for Expected Credit Losses [Abstract]
Schedule of allowance for expected credit losses	As of and For the Three Months Ended Premiums Allowance for Balance, beginning of period $ 64,502 $ 445 Current period charge for expected credit losses 189 Write-offs of uncollectible premiums receivable 200 Balance, end of period $ 106,946 $ 434 As of and For the Six Months Ended Premiums Allowance for Balance, beginning of period $ 62,173 $ 425 Current period charge for expected credit losses 278 Write-offs of uncollectible premiums receivable 269 Balance, end of period $ 106,946 $ 434

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of revenue by insurance product line	Three Months Ended June 30, 2023 Private Non-Standard Home and Crop Commercial All Other Total Direct premiums earned $ 21,508 $ 21,744 $ 22,995 $ 17,526 $ 21,076 $ 1,313 $ 106,162 Assumed premiums earned — — — 501 — 326 827 Ceded premiums earned (965 ) (99 ) (2,580 ) (4,691 ) (4,435 ) (73 ) (12,843 ) Net premiums earned 20,543 21,645 20,415 13,336 16,641 1,566 94,146 Direct losses and loss adjustment expenses 18,455 14,139 18,414 12,702 29,685 1,754 95,149 Assumed losses and loss adjustment expenses — — — — — 67 67 Ceded losses and loss adjustment expenses 411 — (499 ) (4,492 ) (11,556 ) (1,574 ) (17,710 ) Net losses and loss adjustment expenses 18,866 14,139 17,915 8,210 18,129 247 77,506 Gross margin 1,677 7,506 2,500 5,126 (1,488 ) 1,319 16,640 Underwriting and general expenses 5,754 8,684 6,150 2,648 6,249 389 29,874 Underwriting gain (loss) (4,077 ) (1,178 ) (3,650 ) 2,478 (7,737 ) 930 (13,234 ) Fee and other income 239 499 (939 ) Net investment income 2,505 Net investment gains (losses) (174 ) Loss before income taxes (10,404 ) Income tax benefit (2,169 ) Net loss (8,235 ) Net loss attributable to non-controlling interest (113 ) Net loss attributable to NI Holdings, Inc. $ (8,122 ) Operating Ratios: Loss and loss adjustment expense ratio 91.8% 65.3% 87.8% 61.6% 108.9% 15.8% 82.3% Expense ratio 28.0% 40.1% 30.1% 19.9% 37.6% 24.8% 31.7% Combined ratio 119.8% 105.4% 117.9% 81.5% 146.5% 40.6% 114.0% Balances at June 30, 2023: Premiums and agents’ balances receivable $ 23,840 $ 10,322 $ 9,793 $ 44,951 $ 17,213 $ 827 $ 106,946 Deferred policy acquisition costs 5,785 8,871 7,974 2,832 8,198 464 34,124 Reinsurance recoverables on losses 727 — 4,691 3,114 42,635 2,341 53,508 Receivable from Federal Crop Insurance Corporation — — — 14,032 — — 14,032 Goodwill and other intangibles — 2,736 — — 14,278 — 17,014 Unpaid losses and loss adjustment expenses 31,935 52,866 30,503 11,603 96,390 8,741 232,038 Unearned premiums 35,317 28,067 48,690 27,193 43,066 3,017 185,350 Three Months Ended June 30, 2022 Private Non-Standard Home and Crop Commercial All Other Total Direct premiums earned $ 19,824 $ 15,577 $ 21,703 $ 17,709 $ 18,161 $ 1,277 $ 94,251 Assumed premiums earned — — — 491 — 1,200 1,691 Ceded premiums earned (559 ) (65 ) (1,748 ) (5,905 ) (3,130 ) (39 ) (11,446 ) Net premiums earned 19,265 15,512 19,955 12,295 15,031 2,438 84,496 Direct losses and loss adjustment expenses 16,866 4,133 62,188 13,237 13,081 1,165 110,670 Assumed losses and loss adjustment expenses — — — 244 — 1,291 1,535 Ceded losses and loss adjustment expenses (12 ) — (357 ) (3,151 ) (90 ) — (3,610 ) Net losses and loss adjustment expenses 16,854 4,133 61,831 10,330 12,991 2,456 108,595 Gross margin 2,411 11,379 (41,876 ) 1,965 2,040 (18 ) (24,099 ) Underwriting and general expenses 5,553 6,867 6,056 1,609 5,576 585 26,246 Underwriting gain (loss) (3,142 ) 4,512 (47,932 ) 356 (3,536 ) (603 ) (50,345 ) Fee and other income 254 415 4,766 Net investment income 2,015 Net investment gains (losses) (11,136 ) Loss before income taxes (59,051 ) Income tax benefit (12,415 ) Net loss (46,636 ) Net loss attributable to non-controlling interest (726 ) Net loss attributable to NI Holdings, Inc. $ (45,910 ) Operating Ratios: Loss and loss adjustment expense ratio 87.5% 26.6% 309.9% 84.0% 86.4% 100.7% 128.5% Expense ratio 28.8% 44.3% 30.3% 13.1% 37.1% 24.0% 31.1% Combined ratio 116.3% 70.9% 340.2% 97.1% 123.5% 124.7% 159.6% Balances at June 30, 2022: Premiums and agents’ balances receivable $ 21,287 $ 16,678 $ 10,468 $ 42,905 $ 16,175 $ 823 $ 108,336 Deferred policy acquisition costs 5,427 8,201 7,838 1,060 7,929 462 30,917 Reinsurance recoverables on losses 591 — 2,766 1,976 10,960 748 17,041 Goodwill and other intangibles — 2,786 — — 14,700 — 17,486 Unpaid losses and loss adjustment expenses 29,105 38,689 49,052 12,755 43,876 9,399 182,876 Unearned premiums 31,885 24,030 45,942 26,205 42,379 3,284 173,725 Payable to Federal Crop Insurance Corporation — — — 7,102 — — 7,102 Six Months Ended June 30, 2023 Private Non-Standard Home and Crop Commercial All Other Total Direct premiums earned $ 42,050 $ 42,716 $ 45,426 $ 17,516 $ 41,306 $ 2,622 $ 191,636 Assumed premiums earned — — — 501 — 902 1,403 Ceded premiums earned (1,853 ) (192 ) (5,021 ) (5,405 ) (8,648 ) (147 ) (21,266 ) Net premiums earned 40,197 42,524 40,405 12,612 32,658 3,377 171,773 Direct losses and loss adjustment expenses 34,080 31,177 27,937 12,032 59,007 1,777 166,010 Assumed losses and loss adjustment expenses — — — — — 157 157 Ceded losses and loss adjustment expenses 412 — (1,303 ) (4,596 ) (22,764 ) (1,585 ) (29,836 ) Net losses and loss adjustment expenses 34,492 31,177 26,634 7,436 36,243 349 136,331 Gross margin 5,705 11,347 13,771 5,176 (3,585 ) 3,028 35,442 Underwriting and general expenses 12,172 17,677 12,355 2,680 12,336 898 58,118 Underwriting gain (loss) (6,467 ) (6,330 ) 1,416 2,496 (15,921 ) 2,130 (22,676 ) Fee and other income 471 773 (5,859 ) Net investment income 4,744 Net investment gains (losses) 1,242 Loss before income taxes (15,917 ) Income tax benefit (3,182 ) Net loss (12,735 ) Net loss attributable to non-controlling interest (403 ) Net loss attributable to NI Holdings, Inc. $ (12,332 ) Operating Ratios: Loss and loss adjustment expense ratio 85.8% 73.3% 65.9% 59.0% 111.0% 10.3% 79.4% Expense ratio 30.3% 41.6% 30.6% 21.2% 37.8% 26.6% 33.8% Combined ratio 116.1% 114.9% 96.5% 80.2% 148.8% 36.9% 113.2% Six Months Ended June 30, 2022 Private Non-Standard Home and Crop Commercial All Other Total Direct premiums earned $ 39,125 $ 30,019 $ 42,882 $ 17,692 $ 35,391 $ 2,541 $ 167,650 Assumed premiums earned — — — 491 — 3,061 3,552 Ceded premiums earned (1,118 ) (129 ) (3,715 ) (5,901 ) (6,172 ) (84 ) (17,119 ) Net premiums earned 38,007 29,890 39,167 12,282 29,219 5,518 154,083 Direct losses and loss adjustment expenses 31,392 12,624 69,380 13,134 28,144 1,491 156,165 Assumed losses and loss adjustment expenses — — — 244 — 1,301 1,545 Ceded losses and loss adjustment expenses 173 — (709 ) (3,214 ) (5,136 ) (100 ) (8,986 ) Net losses and loss adjustment expenses 31,565 12,624 68,671 10,164 23,008 2,692 148,724 Gross margin 6,442 17,266 (29,504 ) 2,118 6,211 2,826 5,359 Underwriting and general expenses 11,321 12,958 12,029 1,057 10,912 1,373 49,650 Underwriting gain (loss) (4,879 ) 4,308 (41,533 ) 1,061 (4,701 ) 1,453 (44,291 ) Fee and other income 642 843 4,950 Net investment income 3,668 Net investment gains (losses) (16,664 ) Loss before income taxes (56,444 ) Income tax benefit (11,847 ) Net loss (44,597 ) Net loss attributable to non-controlling interest (596 ) Net loss attributable to NI Holdings, Inc. $ (44,001 ) Operating Ratios: Loss and loss adjustment expense ratio 83.1% 42.2% 175.3% 82.8% 78.7% 48.8% 96.5% Expense ratio 29.8% 43.4% 30.7% 8.6% 37.3% 24.9% 32.2% Combined ratio 112.8% 85.6% 206.0% 91.4% 116.1% 73.7% 128.7%

Organization (Details)

Organization (Details)	6 Months Ended
	Jun. 30, 2023
Nodak Insurance [Member]
Organization (Details) [Line Items]
Ownership percentage	100%
Nodak Insurance [Member]
Organization (Details) [Line Items]
Percentage of shares exchanged	55%

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Investments [Abstract]
Fixed income securities with a fair value	$ 5,918	$ 6,613

Investments (Details) - Schedul

Investments (Details) - Schedule of amortized cost and estimated fair value of income securities - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fixed income securities:
Cost or Amortized Cost	$ 369,526	$ 342,977
Gross Unrealized Gains	260	233
Gross Unrealized Losses	(36,797)	(39,886)
Fair Value	332,989	303,324
U.S. Government and agencies [Member]
Fixed income securities:
Fair Value	9,032	10,167
Obligations of states and political subdivisions [Member]
Fixed income securities:
Fair Value	53,410	53,926
Corporate securities [Member]
Fixed income securities:
Fair Value	135,866	121,159
Residential mortgage-backed securities [Member]
Fixed income securities:
Fair Value	56,772	47,493
Commercial mortgage-backed securities [Member]
Fixed income securities:
Fair Value	25,463	26,135
Asset-backed securities [Member]
Fixed income securities:
Fair Value	48,351	40,725
Redeemable preferred stocks [Member]
Fixed income securities:
Fair Value	4,095	3,719
Fixed income securities [Member] | U.S. Government and agencies [Member]
Fixed income securities:
Cost or Amortized Cost	9,941	11,174
Allowance for Expected Credit Losses
Gross Unrealized Gains		1
Gross Unrealized Losses	(909)	(1,008)
Fair Value	9,032	10,167
Fixed income securities [Member] | Obligations of states and political subdivisions [Member]
Fixed income securities:
Cost or Amortized Cost	58,753	60,342
Allowance for Expected Credit Losses
Gross Unrealized Gains	64	38
Gross Unrealized Losses	(5,407)	(6,454)
Fair Value	53,410	53,926
Fixed income securities [Member] | Corporate securities [Member]
Fixed income securities:
Cost or Amortized Cost	150,137	136,837
Allowance for Expected Credit Losses
Gross Unrealized Gains	132	109
Gross Unrealized Losses	(14,403)	(15,787)
Fair Value	135,866	121,159
Fixed income securities [Member] | Residential mortgage-backed securities [Member]
Fixed income securities:
Cost or Amortized Cost	62,623	53,254
Allowance for Expected Credit Losses
Gross Unrealized Gains	35	85
Gross Unrealized Losses	(5,886)	(5,846)
Fair Value	56,772	47,493
Fixed income securities [Member] | Commercial mortgage-backed securities [Member]
Fixed income securities:
Cost or Amortized Cost	30,300	30,837
Allowance for Expected Credit Losses
Gross Unrealized Gains
Gross Unrealized Losses	(4,837)	(4,702)
Fair Value	25,463	26,135
Fixed income securities [Member] | Asset-backed securities [Member]
Fixed income securities:
Cost or Amortized Cost	53,025	45,786
Allowance for Expected Credit Losses
Gross Unrealized Gains	29
Gross Unrealized Losses	(4,703)	(5,061)
Fair Value	48,351	40,725
Fixed income securities [Member] | Redeemable preferred stocks [Member]
Fixed income securities:
Cost or Amortized Cost	4,747	4,747
Allowance for Expected Credit Losses
Gross Unrealized Gains
Gross Unrealized Losses	(652)	(1,028)
Fair Value	$ 4,095	$ 3,719

Investments (Details) - Sched_2

Investments (Details) - Schedule of fixed maturities - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Due to mature:
Amortized Cost, Due to mature One year or less	$ 12,199	$ 10,130
Fair Value, Due to mature One year or less	11,948	9,971
Amortized Cost, Due to mature After one year through five years	79,650	81,879
Fair Value, Due to mature After one year through five years	74,773	77,031
Amortized Cost, Due to mature After five years through ten years	85,000	76,648
Fair Value, Due to mature After five years through ten years	75,928	65,966
Amortized Cost, Due to mature After ten years	41,982	39,696
Fair Value, Due to mature After ten years	35,659	32,284
Amortized Cost, Due to mature Mortgage/asset-backed securities	145,948	129,877
Fair Value, Due to mature Mortgage/asset-backed securities	130,586	114,353
Amortized Cost, Due to mature Redeemable preferred stocks	4,747	4,747
Fair Value, Due to mature Redeemable preferred stocks	4,095	3,719
Available-for-sale Securities, Debt Maturities, Amortized Cost	369,526	342,977
Available-for-sale Securities, Debt Securities, Estimated Fair Value	$ 332,989	$ 303,324

Investments (Details) - Sched_3

Investments (Details) - Schedule of gross unrealized loss - Fixed Maturities [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fixed income securities:
Less than 12 months Fair Value	$ 53,102	$ 185,804
Less than 12 months Unrealized Losses	(1,350)	(18,768)
Greater than 12 months Fair Value	252,832	99,552
Greater than 12 months Unrealized Losses	(35,447)	(21,118)
Fair Value, Total	305,934	285,356
Unrealized Losses, Total	(36,797)	(39,886)
U.S. Government and agencies [Member]
Fixed income securities:
Less than 12 months Fair Value		7,078
Less than 12 months Unrealized Losses		(537)
Greater than 12 months Fair Value	9,032	2,587
Greater than 12 months Unrealized Losses	(909)	(471)
Fair Value, Total	9,032	9,665
Unrealized Losses, Total	(909)	(1,008)
Obligations of states and political subdivisions [Member]
Fixed income securities:
Less than 12 months Fair Value	7,234	40,213
Less than 12 months Unrealized Losses	(431)	(3,554)
Greater than 12 months Fair Value	40,295	9,045
Greater than 12 months Unrealized Losses	(4,976)	(2,900)
Fair Value, Total	47,529	49,258
Unrealized Losses, Total	(5,407)	(6,454)
Corporate securities [Member]
Fixed income securities:
Less than 12 months Fair Value	17,414	76,645
Less than 12 months Unrealized Losses	(418)	(7,944)
Greater than 12 months Fair Value	108,662	39,683
Greater than 12 months Unrealized Losses	(13,985)	(7,843)
Fair Value, Total	126,076	116,328
Unrealized Losses, Total	(14,403)	(15,787)
Residential mortgage-backed securities [Member]
Fixed income securities:
Less than 12 months Fair Value	14,358	21,017
Less than 12 months Unrealized Losses	(260)	(1,805)
Greater than 12 months Fair Value	32,757	18,519
Greater than 12 months Unrealized Losses	(5,626)	(4,041)
Fair Value, Total	47,115	39,536
Unrealized Losses, Total	(5,886)	(5,846)
Commercial mortgage-backed securities [Member]
Fixed income securities:
Less than 12 months Fair Value	2,033	18,932
Less than 12 months Unrealized Losses	(56)	(2,674)
Greater than 12 months Fair Value	23,155	7,204
Greater than 12 months Unrealized Losses	(4,781)	(2,028)
Fair Value, Total	25,188	26,136
Unrealized Losses, Total	(4,837)	(4,702)
Asset-backed securities [Member]
Fixed income securities:
Less than 12 months Fair Value	12,063	18,904
Less than 12 months Unrealized Losses	(185)	(1,522)
Greater than 12 months Fair Value	34,836	21,809
Greater than 12 months Unrealized Losses	(4,518)	(3,539)
Fair Value, Total	46,899	40,713
Unrealized Losses, Total	(4,703)	(5,061)
Redeemable preferred stocks [Member]
Fixed income securities:
Less than 12 months Fair Value		3,015
Less than 12 months Unrealized Losses		(732)
Greater than 12 months Fair Value	4,095	705
Greater than 12 months Unrealized Losses	(652)	(296)
Fair Value, Total	4,095	3,720
Unrealized Losses, Total	$ (652)	$ (1,028)

Investments (Details) - Sched_4

Investments (Details) - Schedule of Net Investment Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net Investment Income [Line Items]
Total gross investment income	$ 3,314	$ 2,886	$ 6,466	$ 5,544
Investment expenses	809	871	1,722	1,876
Net investment income	2,505	2,015	4,744	3,668
Fixed Income Securities [Member]
Net Investment Income [Line Items]
Total gross investment income	2,781	2,406	5,411	4,567
Equity Securities [Member]
Net Investment Income [Line Items]
Total gross investment income	283	395	603	724
Real Estate [Member]
Net Investment Income [Line Items]
Total gross investment income	156	75	306	241
Cash and Cash Equivalents [Member]
Net Investment Income [Line Items]
Total gross investment income	$ 94	$ 10	$ 146	$ 12

Investments (Details) - Sched_5

Investments (Details) - Schedule of net investment gains (losses) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Gross realized gains:
Total gross realized gains	$ 357	$ 1,201	$ 13,088	$ 2,320
Gross realized losses, excluding credit impairment losses:
Total gross realized losses, excluding credit impairment losses	(476)	(174)	(1,621)	(355)
Net realized gains	(119)	1,027	11,467	1,965
Change in net unrealized gains on equity securities	(55)	(12,163)	(10,225)	(18,629)
Net investment gains (losses)	(174)	(11,136)	1,242	(16,664)
Fixed Income Securities [Member]
Gross realized gains:
Total gross realized gains		5		51
Gross realized losses, excluding credit impairment losses:
Total gross realized losses, excluding credit impairment losses	(188)	(110)	(487)	(113)
Equity Securities [Member]
Gross realized gains:
Total gross realized gains	357	1,196	13,088	2,269
Gross realized losses, excluding credit impairment losses:
Total gross realized losses, excluding credit impairment losses	$ (288)	$ (64)	$ (1,134)	$ (242)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Schedule of assets which are measured on a recurring basis - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fixed income securities:
Total fixed income securities	$ 332,989	$ 303,324
Equity securities:
Total equity securities	24,654	52,393
Cash equivalents	34,004	27,255
Total assets at fair value	391,647	382,972
Common stock [Member]
Equity securities:
Total equity securities	22,807	50,699
Non-redeemable preferred stock [Member]
Equity securities:
Total equity securities	1,847	1,694
U.S. Government and agencies [Member]
Fixed income securities:
Total fixed income securities	9,032	10,167
Obligations of states and political subdivisions [Member]
Fixed income securities:
Total fixed income securities	53,410	53,926
Corporate securities [Member]
Fixed income securities:
Total fixed income securities	135,866	121,159
Residential mortgage-backed securities [Member]
Fixed income securities:
Total fixed income securities	56,772	47,493
Commercial mortgage-backed securities [Member]
Fixed income securities:
Total fixed income securities	25,463	26,135
Asset-backed securities [Member]
Fixed income securities:
Total fixed income securities	48,351	40,725
Redeemable preferred stock [Member]
Fixed income securities:
Total fixed income securities	4,095	3,719
Fair Value, Inputs, Level 1 [Member]
Fixed income securities:
Total fixed income securities
Equity securities:
Total equity securities	24,654	52,393
Cash equivalents	34,004	27,255
Total assets at fair value	58,658	79,648
Fair Value, Inputs, Level 1 [Member] | Common stock [Member]
Equity securities:
Total equity securities	22,807	50,699
Fair Value, Inputs, Level 1 [Member] | Non-redeemable preferred stock [Member]
Equity securities:
Total equity securities	1,847	1,694
Fair Value, Inputs, Level 1 [Member] | U.S. Government and agencies [Member]
Fixed income securities:
Total fixed income securities
Fair Value, Inputs, Level 1 [Member] | Obligations of states and political subdivisions [Member]
Fixed income securities:
Total fixed income securities
Fair Value, Inputs, Level 1 [Member] | Corporate securities [Member]
Fixed income securities:
Total fixed income securities
Fair Value, Inputs, Level 1 [Member] | Residential mortgage-backed securities [Member]
Fixed income securities:
Total fixed income securities
Fair Value, Inputs, Level 1 [Member] | Commercial mortgage-backed securities [Member]
Fixed income securities:
Total fixed income securities
Fair Value, Inputs, Level 1 [Member] | Asset-backed securities [Member]
Fixed income securities:
Total fixed income securities
Fair Value, Inputs, Level 1 [Member] | Redeemable preferred stock [Member]
Fixed income securities:
Total fixed income securities
Fair Value, Inputs, Level 2 [Member]
Fixed income securities:
Total fixed income securities	332,989	303,324
Equity securities:
Total equity securities
Cash equivalents
Total assets at fair value	332,989	303,324
Fair Value, Inputs, Level 2 [Member] | Common stock [Member]
Equity securities:
Total equity securities
Fair Value, Inputs, Level 2 [Member] | Non-redeemable preferred stock [Member]
Equity securities:
Total equity securities
Fair Value, Inputs, Level 2 [Member] | U.S. Government and agencies [Member]
Fixed income securities:
Total fixed income securities	9,032	10,167
Fair Value, Inputs, Level 2 [Member] | Obligations of states and political subdivisions [Member]
Fixed income securities:
Total fixed income securities	53,410	53,926
Fair Value, Inputs, Level 2 [Member] | Corporate securities [Member]
Fixed income securities:
Total fixed income securities	135,866	121,159
Fair Value, Inputs, Level 2 [Member] | Residential mortgage-backed securities [Member]
Fixed income securities:
Total fixed income securities	56,772	47,493
Fair Value, Inputs, Level 2 [Member] | Commercial mortgage-backed securities [Member]
Fixed income securities:
Total fixed income securities	25,463	26,135
Fair Value, Inputs, Level 2 [Member] | Asset-backed securities [Member]
Fixed income securities:
Total fixed income securities	48,351	40,725
Fair Value, Inputs, Level 2 [Member] | Redeemable preferred stock [Member]
Fixed income securities:
Total fixed income securities	4,095	3,719
Fair Value, Inputs, Level 3 [Member]
Fixed income securities:
Total fixed income securities
Equity securities:
Total equity securities
Cash equivalents
Total assets at fair value
Fair Value, Inputs, Level 3 [Member] | Common stock [Member]
Equity securities:
Total equity securities
Fair Value, Inputs, Level 3 [Member] | Non-redeemable preferred stock [Member]
Equity securities:
Total equity securities
Fair Value, Inputs, Level 3 [Member] | U.S. Government and agencies [Member]
Fixed income securities:
Total fixed income securities
Fair Value, Inputs, Level 3 [Member] | Obligations of states and political subdivisions [Member]
Fixed income securities:
Total fixed income securities
Fair Value, Inputs, Level 3 [Member] | Corporate securities [Member]
Fixed income securities:
Total fixed income securities
Fair Value, Inputs, Level 3 [Member] | Residential mortgage-backed securities [Member]
Fixed income securities:
Total fixed income securities
Fair Value, Inputs, Level 3 [Member] | Commercial mortgage-backed securities [Member]
Fixed income securities:
Total fixed income securities
Fair Value, Inputs, Level 3 [Member] | Asset-backed securities [Member]
Fixed income securities:
Total fixed income securities
Fair Value, Inputs, Level 3 [Member] | Redeemable preferred stock [Member]
Fixed income securities:
Total fixed income securities

Reinsurance (Details)

Reinsurance (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Reinsurance (Details) [Line Items]
Reinsurance retention policy, amount retained	$ 133,000	$ 125,000
Reinsurance coverage excess amount	20,000	15,000
Reinsurance risk excess of loss	4,000	4,000
Excess property risks	1,000	1,000
Reinsurance coverage property risk	11,000	11,000
Reinsurance coverage excess of casualty risks	1,000	1,000
Reinsurance coverage	20,000	20,000
Excess amount per property	$ 5,000	$ 5,000
Ceded reinsurance percentage	100%	100%
Crop [Member]
Reinsurance (Details) [Line Items]
Net loss ratio percentage	100%	100%
Multi-Peril Crop [Member]
Reinsurance (Details) [Line Items]
Net loss ratio percentage	105%	105%

Reinsurance (Details) - Schedul

Reinsurance (Details) - Schedule of reconciliation of direct to net premiums on both a written and an earned basis - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Premiums Written [Member]
Effects of Reinsurance [Line Items]
Premiums Written, Direct premium	$ 144,250	$ 144,962	$ 234,806	$ 220,495
Premiums Written, Assumed premium	2,440	3,226	2,839	5,087
Premiums Written, Ceded premium	(20,439)	(20,175)	(28,898)	(25,835)
Premiums Written, Net premiums	126,251	128,013	208,747	199,747
Premiums Earned [Member]
Effects of Reinsurance [Line Items]
Premiums Written, Direct premium	106,162	94,251	191,636	167,650
Premiums Written, Assumed premium	827	1,691	1,403	3,552
Premiums Written, Ceded premium	(12,843)	(11,446)	(21,266)	(17,119)
Premiums Written, Net premiums	$ 94,146	$ 84,496	$ 171,773	$ 154,083

Reinsurance (Details) - Sched_2

Reinsurance (Details) - Schedule of reconciliation of direct to net losses and loss adjustment expenses - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reinsurance Disclosures [Abstract]
Direct losses and loss adjustment expenses	$ 95,149	$ 110,670	$ 166,010	$ 156,165
Assumed losses and loss adjustment expenses	67	1,535	157	1,545
Ceded losses and loss adjustment expenses	(17,710)	(3,610)	(29,836)	(8,986)
Net losses and loss adjustment expenses	$ 77,506	$ 108,595	$ 136,331	$ 148,724

Reinsurance (Details) - Sched_3

Reinsurance (Details) - Schedule of pooling share percentages by insurance company	Jun. 30, 2023
Reinsurance (Details) - Schedule of pooling share percentages by insurance company [Line Items]
Pool Percentage	100%
Nodak Insurance Company [Member]
Reinsurance (Details) - Schedule of pooling share percentages by insurance company [Line Items]
Pool Percentage	66%
American West Insurance Company [Member]
Reinsurance (Details) - Schedule of pooling share percentages by insurance company [Line Items]
Pool Percentage	7%
Primero Insurance Company [Member]
Reinsurance (Details) - Schedule of pooling share percentages by insurance company [Line Items]
Pool Percentage	3%
Battle Creek Mutual Insurance Company [Member]
Reinsurance (Details) - Schedule of pooling share percentages by insurance company [Line Items]
Pool Percentage	2%
Direct Auto Insurance Company [Member]
Reinsurance (Details) - Schedule of pooling share percentages by insurance company [Line Items]
Pool Percentage	13%
Westminster American Insurance Company [Member]
Reinsurance (Details) - Schedule of pooling share percentages by insurance company [Line Items]
Pool Percentage	9%

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs (Details) - Schedule of deferred policy acquisition costs and asset reconciliation - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Deferred Policy Acquisition Costs and Asset Reconciliation [Abstract]
Balance, beginning of period	$ 31,350	$ 26,272	$ 29,768	$ 24,947
Deferral of policy acquisition costs	23,353	20,889	43,523	37,837
Amortization of deferred policy acquisition costs	(20,579)	(16,244)	(39,167)	(31,867)
Balance, end of period	$ 34,124	$ 30,917	$ 34,124	$ 30,917

Unpaid Losses and Loss Adjust_3

Unpaid Losses and Loss Adjustment Expenses (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Direct Auto and Westminster [Member]
Unpaid Losses and Loss Adjustment Expenses (Details) [Line Items]
Incurred reported losses and loss adjustment expenses	$ 9,477
Battle Creek [Member]
Unpaid Losses and Loss Adjustment Expenses (Details) [Line Items]
Incurred reported losses and loss adjustment expenses		$ 8,490

Unpaid Losses and Loss Adjust_4

Unpaid Losses and Loss Adjustment Expenses (Details) - Schedule of activity in the liability for unpaid losses and loss adjustment expenses - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Balance, beginning of period:
Liability for unpaid losses and loss adjustment expenses	$ 190,459	$ 139,662
Reinsurance recoverables on losses	37,575	21,200
Net balance, beginning of period	152,884	118,462
Incurred related to:
Current year	126,854	157,214
Prior years	9,477	(8,490)
Total incurred	136,331	148,724
Paid related to:
Current year	50,010	59,634
Prior years	60,675	41,717
Total paid	110,685	101,351
Balance, end of period:
Liability for unpaid losses and loss adjustment expenses	232,038	182,876
Reinsurance recoverables on losses	53,508	17,041
Net balance, end of period	$ 178,530	$ 165,835

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Property and Equipment [Abstract]
Depreciation expense	$ 188	$ 176	$ 370	$ 344

Property and Equipment (Detai_2

Property and Equipment (Details) - Schedule of property and equipment - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Cost:
Property and equipment, Gross cost	$ 21,816	$ 21,213
Accumulated depreciation	(11,540)	(11,370)
Total property and equipment, net	10,276	9,843
Land [Member]
Cost:
Property and equipment, Gross cost	1,403	1,403
Building and improvements [Member]
Cost:
Property and equipment, Gross cost	$ 14,491	14,271
Building and improvements [Member] | Minimum [Member]
Cost:
Estimated Useful Life	10 years
Building and improvements [Member] | Maximum [Member]
Cost:
Estimated Useful Life	43 years
Electronic data processing equipment [Member]
Cost:
Property and equipment, Gross cost	$ 1,637	1,310
Electronic data processing equipment [Member] | Minimum [Member]
Cost:
Estimated Useful Life	5 years
Electronic data processing equipment [Member] | Maximum [Member]
Cost:
Estimated Useful Life	7 years
Furniture and Fixtures [Member]
Cost:
Property and equipment, Gross cost	$ 2,968	2,919
Furniture and Fixtures [Member] | Minimum [Member]
Cost:
Estimated Useful Life	5 years
Furniture and Fixtures [Member] | Maximum [Member]
Cost:
Estimated Useful Life	7 years
Automobiles [Member]
Cost:
Property and equipment, Gross cost	$ 1,317	$ 1,310
Automobiles [Member] | Minimum [Member]
Cost:
Estimated Useful Life	2 years
Automobiles [Member] | Maximum [Member]
Cost:
Estimated Useful Life	3 years

Goodwill and Other Intangible_2

Goodwill and Other Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 118	$ 118	$ 236	$ 236

Goodwill and Other Intangible_3

Goodwill and Other Intangibles (Details) - Schedule of goodwill by segment - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Goodwill [Line Items]
Goodwill	$ 9,384	$ 9,384
Non-standard auto from acquisition of Primero [Member]
Goodwill [Line Items]
Goodwill	2,628	2,628
Commercial from acquisition of Westminster [Member]
Goodwill [Line Items]
Goodwill	$ 6,756	$ 6,756

Goodwill and Other Intangible_4

Goodwill and Other Intangibles (Details) - Schedule of other intangible assets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Subject to amortization:
Gross Carrying Amount	$ 9,348	$ 9,348
Accumulated Amortization	1,718	1,482
Net	7,630	7,866
Trade Names [Member]
Subject to amortization:
Gross Carrying Amount	748	748
Accumulated Amortization	415	365
Net	333	383
Distribution Network [Member]
Subject to amortization:
Gross Carrying Amount	6,700	6,700
Accumulated Amortization	1,303	1,117
Net	5,397	5,583
Subject to Amortization [Member]
Subject to amortization:
Gross Carrying Amount	7,448	7,448
Accumulated Amortization	1,718	1,482
Net	5,730	5,966
Not Subject to Amortization State Insurance Licenses [Member]
Subject to amortization:
Gross Carrying Amount	1,900	1,900
Accumulated Amortization
Net	$ 1,900	$ 1,900

Goodwill and Other Intangible_5

Goodwill and Other Intangibles (Details) - Schedule of amortization of other intangible assets with finite lives $ in Thousands	Jun. 30, 2023 USD ($)
Schedule of Amortization of Other Intangible Assets with Finite Lives [Abstract]
2023 (six months remaining)	$ 219
2024	422
2025	422
2026	422
2027	422
Thereafter	3,823
Total other intangible assets with finite lives	$ 5,730

Royalties, Dividends, and Aff_3

Royalties, Dividends, and Affiliations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Royalties, Dividends, and Affiliations (Details) [Line Items]
Payment of royalties	$ 442	$ 405	$ 799	$ 744
NDFB [Member]
Royalties, Dividends, and Affiliations (Details) [Line Items]
Royalty amounts payable accrued			$ 167		$ 119

Royalties, Dividends, and Aff_4

Royalties, Dividends, and Affiliations (Details) - Schedule of impact of including battle creek in our consolidated balance sheets and statements of operations - Battle Creek [Member] - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Assets:
Cash and cash equivalents		$ 4,321		$ 4,321		$ 5,008
Investments		13,931		13,931		13,350
Premiums and agents’ balances receivable		5,606		5,606		5,422
Deferred policy acquisition costs		682		682		595
Reinsurance recoverables on losses	[1]	12,641		12,641		12,597
Accrued investment income		60		60		59
Income tax recoverable						225
Deferred income taxes		800		800		780
Property and equipment		313		313		319
Other assets		61		61		52
Total assets		38,415		38,415		38,407
Liabilities:
Unpaid losses and loss adjustment expenses		5,218		5,218		6,453
Unearned premiums		3,698		3,698		2,959
Notes payable	[2]	3,000		3,000		3,000
Pooling payable	[2]	7,699		7,699		8,337
Reinsurance losses payable	[1]	13,783		13,783		13,125
Accrued expenses and other liabilities		3,083		3,083		2,303
Total liabilities		36,481		36,481		36,177
Equity:
Non-controlling interest		1,934		1,934		2,230
Total equity		1,934		1,934		2,230
Total liabilities and equity		38,415		38,415		$ 38,407
Revenues:
Net premiums earned		1,882	$ 1,690	3,435	$ 3,082
Fee and other income (expenses)		7	(2)	17	(7)
Net investment income		80	27	147	40
Total revenues		1,969	1,715	3,599	3,115
Expenses:
Losses and loss adjustment expenses		1,550	2,171	2,727	2,974
Amortization of deferred policy acquisition costs		411	325	783	637
Other underwriting and general expenses		155	157	318	274
Total expenses		2,116	2,653	3,828	3,885
Loss before income taxes		(147)	(938)	(229)	(770)
Income tax expense (benefit)		(34)	(212)	174	(174)
Net loss		$ (113)	$ (726)	$ (403)	$ (596)
[1]Amount partly eliminated in consolidation.[2]Amount fully eliminated in consolidation.

Benefit Plans (Details)

Benefit Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Benefit Plans (Details) [Line Items]
Company's total contributions to the 401(k) plan	$ 189	$ 187	$ 378	$ 335
Company's total contribution to the money purchase plan	32	242	281	432
Deferred compensation plan expenses	76	23	98	127
Debt from ESOP	$ 2,400		$ 2,400
Percentage of ESOP in authorized shares			1%
Per share price (in Dollars per share)	$ 10		$ 10
Distribution of employee stock ownership plan shares	$ 83	$ 101	$ 164	$ 210
ESOP shares were released and allocated (in Shares)	145,890		145,890
ESOP shares in suspense (in Shares)					94,110
Market price (in Dollars per share)			$ 14.85
Fair value of unearned ESOP shares	$ 1,398		$ 1,398
ESOP Loan [Member]
Benefit Plans (Details) [Line Items]
Debt term			10 years
Interest rate	2.79%		2.79%

Line of Credit (Details)

Line of Credit (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Line of credit with Wells Fargo	$ 5,000
Interest rate	3.25%
Outstanding amounts
Line of credit expiration date	Mar. 31, 2024

Income Taxes (Details)

Income Taxes (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Battle Creek [Member]
Income Taxes (Details) [Line Items]
Operating loss carryforwards	$ 3,963
Westminster [Member]
Income Taxes (Details) [Line Items]
Operating loss carryforwards	$ 1,270

Leases (Details) - Schedule of

Leases (Details) - Schedule of operating leases - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Operating Leases Abstract [Abstract]
Operating lease expense	$ 98	$ 98	$ 196	$ 196
Other information on operating leases:
Operating cash outflow from operating leases	103	69	204	137
Right-of-use assets obtained in exchange for new lease liabilities	$ 247		$ 247
Weighted average discount rate	3.95%	3.25%	3.95%	3.25%
Weighted average remaining lease term in years	5 years 9 months 18 days	6 years 7 months 6 days	5 years 9 months 18 days	6 years 7 months 6 days

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of contractual maturities of our operating leases $ in Thousands	Dec. 31, 2022 USD ($)
Schedule of Contractual Maturities of the Company's Lease Liabilities [Abstract]
2023	$ 195
2024	381
2025	346
2026	351
2027	356
Thereafter	509
Total undiscounted lease payments	2,138
Less: present value adjustment	219
Operating lease liability at June 30, 2023	$ 1,919

Common and Preferred Stock (Det

Common and Preferred Stock (Details) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Aug. 16, 2022	May 09, 2022	Aug. 11, 2021
Common and Preferred Stock (Details) [Line Items]
Weighted average shares	61,935	61,614
Stock repurchase program, authorized amount							$ 10,000,000	$ 5,000,000
Shares repurchased		238,164	111,244	54,223
Repurchase shares				214,937
Shares repurchased, value			$ 1,932,000	$ 734,000
Excise tax						1%
Preferred stock, shares issued	5,000,000	5,000,000
Common Stock [Member]
Common and Preferred Stock (Details) [Line Items]
Shares repurchased		238,164
Shares repurchased, value		$ 3,223,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 6,043,000	$ 6,043,000
Additional Authorization [Member]
Common and Preferred Stock (Details) [Line Items]
Shares repurchased					81,095
Common stock, shares issued					$ 1,554,000
Shares repurchased, value				$ 3,446,000

Common and Preferred Stock (D_2

Common and Preferred Stock (Details) - Schedule of changes in the number of common stock shares outstanding - shares	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Schedule Of Changes In The Number Of Common Stock Shares Outstanding Abstract
Shares outstanding, beginning of period	21,076,255	21,219,808	21,219,808
Treasury shares repurchased through stock repurchase authorization	(238,164)	(111,244)	(54,223)
Issuance of treasury shares for vesting of restricted stock units	47,887	101,292
Shares outstanding, end of period	20,885,978	21,209,856	21,076,255

Share-Based Compensation (Detai

Share-Based Compensation (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) shares
Share-Based Payment Arrangement [Member]
Share-Based Compensation (Details) [Line Items]
Share issued | shares	1,000,000
Shares granted | shares	100,000
Outstanding, aggregate intrinsic value	$ 1,000
Share-Based Payment Arrangement [Member] | Director [Member]
Share-Based Compensation (Details) [Line Items]
Share granted not exceed	$ 150
Restricted Stock [Member]
Share-Based Compensation (Details) [Line Items]
Percentage of RSU granted to employees per year	20%
Percentage of RSU granted to non-employee directors per year	100%
Total unrecognized compensation cost	$ 1,427
Total unrecognized compensation cost, weighted average period	1 year 10 months 2 days
Performance Shares [Member]
Share-Based Compensation (Details) [Line Items]
Total unrecognized compensation cost	$ 1,316
Total unrecognized compensation cost, weighted average period	2 years 5 months 8 days
Performance Shares [Member] | Minimum [Member]
Share-Based Compensation (Details) [Line Items]
Percentage of RSU granted to employees per year	0%
Performance Shares [Member] | Maximum [Member]
Share-Based Compensation (Details) [Line Items]
Percentage of RSU granted to employees per year	150%

Share-Based Compensation (Det_2

Share-Based Compensation (Details) - Schedule of restricted stock outstanding - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Weighted-Average Grant-Date Fair Value Per Share
Share-Based Compensation (Details) - Schedule of restricted stock outstanding [Line Items]
Units outstanding and unearned at beginning	$ 17	$ 16.86
RSUs granted	13.76	17.61
RSUs earned	16.32	17.39
Units outstanding and unearned at ending	$ 15.37	$ 17
Shares
Share-Based Compensation (Details) - Schedule of restricted stock outstanding [Line Items]
Units outstanding and unearned at beginning	115,360	108,380
RSUs granted	85,000	59,600
RSUs earned	(53,780)	(52,620)
Units outstanding and unearned at ending	146,580	115,360

Share-Based Compensation (Det_3

Share-Based Compensation (Details) - Schedule of RSU activity - Restricted Stock [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation (Details) - Schedule of RSU activity [Line Items]
RSU compensation expense	$ 257	$ 225	$ 559	$ 498
Income tax benefit	(58)	(51)	(127)	(113)
RSU compensation expense, net of income taxes	$ 199	$ 174	$ 432	$ 385

Share-Based Compensation (Det_4

Share-Based Compensation (Details) - Schedule of performance stock outstanding - $ / shares		6 Months Ended	12 Months Ended
		Jun. 30, 2023	Dec. 31, 2022
Weighted-Average Grant-Date Fair Value Per Share
Share-Based Compensation (Details) - Schedule of performance stock outstanding [Line Items]
Units outstanding and unearned at beginning		$ 17	$ 16.06
PSUs granted during (at target)		13.85	18.1
PSUs earned during			15.21
Performance adjustment	[1]	14.26	15.21
Forfeitures			15.21
Units outstanding and unearned at ending		$ 16.53	$ 17
PSUs
Share-Based Compensation (Details) - Schedule of performance stock outstanding [Line Items]
Units outstanding and unearned at beginning		190,000	190,600
PSUs granted during (at target)		87,400	61,800
PSUs earned during			(86,684)
Performance adjustment	[1]	(63,600)	31,200
Forfeitures			(6,916)
Units outstanding and unearned at ending		213,800	190,000
[1]Represents the change in PSUs issued based upon the attainment of performance goals established by the Company.

Share-Based Compensation (Det_5

Share-Based Compensation (Details) - Schedule of PSU activity - Performance Shares [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation (Details) - Schedule of PSU activity [Line Items]
PSU compensation expense	$ 139	$ 262	$ 277	$ 523
Income tax benefit	(32)	(60)	(63)	(119)
PSU compensation expense, net of income taxes	$ 107	$ 202	$ 214	$ 404

Allowance for Expected Credit_3

Allowance for Expected Credit Losses (Details) - Schedule of allowance for expected credit losses - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Premiums Receivable, Net of Allowance for Expected Credit Losses [Member]
Allowance for Expected Credit Losses (Details) - Schedule of allowance for expected credit losses [Line Items]
Balance, beginning of period	$ 64,502	$ 62,173
Balance, end of period	106,946	106,946
Allowance for Expected Credit Losses [Member]
Allowance for Expected Credit Losses (Details) - Schedule of allowance for expected credit losses [Line Items]
Balance, beginning of period	445	425
Current period charge for expected credit losses	189	278
Write-offs of uncollectible premiums receivable	200	269
Balance, end of period	$ 434	$ 434

Segment Information (Details)

Segment Information (Details)	Jun. 30, 2023
Segment Reporting [Abstract]
Revenues percent	10%

Segment Information (Details) -

Segment Information (Details) - Schedule of revenue by insurance product line - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Segment Information (Details) - Schedule of revenue by insurance product line [Line Items]
Direct premiums earned	$ 106,162	$ 94,251	$ 191,636	$ 167,650
Assumed premiums earned	827	1,691	1,403	3,552
Ceded premiums earned	(12,843)	(11,446)	(21,266)	(17,119)
Net premiums earned	94,146	84,496	171,773	154,083
Direct losses and loss adjustment expenses	95,149	110,670	166,010	156,165
Assumed losses and loss adjustment expenses	67	1,535	157	1,545
Ceded losses and loss adjustment expenses	(17,710)	(3,610)	(29,836)	(8,986)
Net losses and loss adjustment expenses	77,506	108,595	136,331	148,724
Gross margin	16,640	(24,099)	35,442	5,359
Underwriting and general expenses	29,874	26,246	58,118	49,650
Underwriting gain (loss)	(13,234)	(50,345)	(22,676)	(44,291)
Fee and other income	499	415	773	843
Net investment income	2,505	2,015	4,744	3,668
Net investment gains (losses)	(174)	(11,136)	1,242	(16,664)
Loss before income taxes	(10,404)	(59,051)	(15,917)	(56,444)
Income tax benefit	(2,169)	(12,415)	(3,182)	(11,847)
Net loss	(8,235)	(46,636)	(12,735)	(44,597)
Net loss attributable to non-controlling interest	(113)	(726)	(403)	(596)
Net loss attributable to NI Holdings, Inc.	$ (8,122)	$ (45,910)	$ (12,332)	$ (44,001)
Operating Ratios:
Loss and loss adjustment expense ratio	82.30%	128.50%	79.40%	96.50%
Expense ratio	31.70%	31.10%	33.80%	32.20%
Combined ratio	114%	159.60%	113.20%	128.70%
Premiums and agents’ balances receivable	$ 106,946	$ 108,336	$ 106,946	$ 108,336		$ 62,173
Deferred policy acquisition costs	34,124	30,917	34,124	30,917	$ 31,350	29,768	$ 26,272	$ 24,947
Reinsurance recoverables on losses	53,508	17,041	53,508	17,041		37,575
Receivable from Federal Crop Insurance Corporation	14,032		14,032			15,462
Goodwill and other intangibles	17,014	17,486	17,014	17,486		17,250
Unpaid losses and loss adjustment expenses	232,038	182,876	232,038	182,876		190,459
Unearned premiums	185,350	173,725	185,350	173,725		$ 148,513
Payable to Federal Crop Insurance Corporation		7,102		7,102
Private Passenger Auto [Member]
Segment Information (Details) - Schedule of revenue by insurance product line [Line Items]
Direct premiums earned	21,508	19,824	42,050	39,125
Assumed premiums earned
Ceded premiums earned	(965)	(559)	(1,853)	(1,118)
Net premiums earned	20,543	19,265	40,197	38,007
Direct losses and loss adjustment expenses	18,455	16,866	34,080	31,392
Assumed losses and loss adjustment expenses
Ceded losses and loss adjustment expenses	411	(12)	412	173
Net losses and loss adjustment expenses	18,866	16,854	34,492	31,565
Gross margin	1,677	2,411	5,705	6,442
Underwriting and general expenses	5,754	5,553	12,172	11,321
Underwriting gain (loss)	$ (4,077)	$ (3,142)	$ (6,467)	$ (4,879)
Operating Ratios:
Loss and loss adjustment expense ratio	91.80%	87.50%	85.80%	83.10%
Expense ratio	28%	28.80%	30.30%	29.80%
Combined ratio	119.80%	116.30%	116.10%	112.80%
Premiums and agents’ balances receivable	$ 23,840	$ 21,287	$ 23,840	$ 21,287
Deferred policy acquisition costs	5,785	5,427	5,785	5,427
Reinsurance recoverables on losses	727	591	727	591
Receivable from Federal Crop Insurance Corporation
Goodwill and other intangibles
Unpaid losses and loss adjustment expenses	31,935	29,105	31,935	29,105
Unearned premiums	35,317	31,885	35,317	31,885
Payable to Federal Crop Insurance Corporation
Non-Standard Auto [Member]
Segment Information (Details) - Schedule of revenue by insurance product line [Line Items]
Direct premiums earned	21,744	15,577	42,716	30,019
Assumed premiums earned
Ceded premiums earned	(99)	(65)	(192)	(129)
Net premiums earned	21,645	15,512	42,524	29,890
Direct losses and loss adjustment expenses	14,139	4,133	31,177	12,624
Assumed losses and loss adjustment expenses
Ceded losses and loss adjustment expenses
Net losses and loss adjustment expenses	14,139	4,133	31,177	12,624
Gross margin	7,506	11,379	11,347	17,266
Underwriting and general expenses	8,684	6,867	17,677	12,958
Underwriting gain (loss)	(1,178)	4,512	(6,330)	4,308
Fee and other income	239	254	471	642
Total	$ (939)	$ 4,766	$ (5,859)	$ 4,950
Operating Ratios:
Loss and loss adjustment expense ratio	65.30%	26.60%	73.30%	42.20%
Expense ratio	40.10%	44.30%	41.60%	43.40%
Combined ratio	105.40%	70.90%	114.90%	85.60%
Premiums and agents’ balances receivable	$ 10,322	$ 16,678	$ 10,322	$ 16,678
Deferred policy acquisition costs	8,871	8,201	8,871	8,201
Reinsurance recoverables on losses
Receivable from Federal Crop Insurance Corporation
Goodwill and other intangibles	2,736	2,786	2,736	2,786
Unpaid losses and loss adjustment expenses	52,866	38,689	52,866	38,689
Unearned premiums	28,067	24,030	28,067	24,030
Payable to Federal Crop Insurance Corporation
Home and Farm [Member]
Segment Information (Details) - Schedule of revenue by insurance product line [Line Items]
Direct premiums earned	22,995	21,703	45,426	42,882
Assumed premiums earned
Ceded premiums earned	(2,580)	(1,748)	(5,021)	(3,715)
Net premiums earned	20,415	19,955	40,405	39,167
Direct losses and loss adjustment expenses	18,414	62,188	27,937	69,380
Assumed losses and loss adjustment expenses
Ceded losses and loss adjustment expenses	(499)	(357)	(1,303)	(709)
Net losses and loss adjustment expenses	17,915	61,831	26,634	68,671
Gross margin	2,500	(41,876)	13,771	(29,504)
Underwriting and general expenses	6,150	6,056	12,355	12,029
Underwriting gain (loss)	$ (3,650)	$ (47,932)	$ 1,416	$ (41,533)
Operating Ratios:
Loss and loss adjustment expense ratio	87.80%	309.90%	65.90%	175.30%
Expense ratio	30.10%	30.30%	30.60%	30.70%
Combined ratio	117.90%	340.20%	96.50%	206%
Premiums and agents’ balances receivable	$ 9,793	$ 10,468	$ 9,793	$ 10,468
Deferred policy acquisition costs	7,974	7,838	7,974	7,838
Reinsurance recoverables on losses	4,691	2,766	4,691	2,766
Receivable from Federal Crop Insurance Corporation
Goodwill and other intangibles
Unpaid losses and loss adjustment expenses	30,503	49,052	30,503	49,052
Unearned premiums	48,690	45,942	48,690	45,942
Payable to Federal Crop Insurance Corporation
Crop [Member]
Segment Information (Details) - Schedule of revenue by insurance product line [Line Items]
Direct premiums earned	17,526	17,709	17,516	17,692
Assumed premiums earned	501	491	501	491
Ceded premiums earned	(4,691)	(5,905)	(5,405)	(5,901)
Net premiums earned	13,336	12,295	12,612	12,282
Direct losses and loss adjustment expenses	12,702	13,237	12,032	13,134
Assumed losses and loss adjustment expenses		244		244
Ceded losses and loss adjustment expenses	(4,492)	(3,151)	(4,596)	(3,214)
Net losses and loss adjustment expenses	8,210	10,330	7,436	10,164
Gross margin	5,126	1,965	5,176	2,118
Underwriting and general expenses	2,648	1,609	2,680	1,057
Underwriting gain (loss)	$ 2,478	$ 356	$ 2,496	$ 1,061
Operating Ratios:
Loss and loss adjustment expense ratio	61.60%	84%	59%	82.80%
Expense ratio	19.90%	13.10%	21.20%	8.60%
Combined ratio	81.50%	97.10%	80.20%	91.40%
Premiums and agents’ balances receivable	$ 44,951	$ 42,905	$ 44,951	$ 42,905
Deferred policy acquisition costs	2,832	1,060	2,832	1,060
Reinsurance recoverables on losses	3,114	1,976	3,114	1,976
Receivable from Federal Crop Insurance Corporation	14,032		14,032
Goodwill and other intangibles
Unpaid losses and loss adjustment expenses	11,603	12,755	11,603	12,755
Unearned premiums	27,193	26,205	27,193	26,205
Payable to Federal Crop Insurance Corporation		7,102		7,102
Commercial [Member]
Segment Information (Details) - Schedule of revenue by insurance product line [Line Items]
Direct premiums earned	21,076	18,161	41,306	35,391
Assumed premiums earned
Ceded premiums earned	(4,435)	(3,130)	(8,648)	(6,172)
Net premiums earned	16,641	15,031	32,658	29,219
Direct losses and loss adjustment expenses	29,685	13,081	59,007	28,144
Assumed losses and loss adjustment expenses
Ceded losses and loss adjustment expenses	(11,556)	(90)	(22,764)	(5,136)
Net losses and loss adjustment expenses	18,129	12,991	36,243	23,008
Gross margin	(1,488)	2,040	(3,585)	6,211
Underwriting and general expenses	6,249	5,576	12,336	10,912
Underwriting gain (loss)	$ (7,737)	$ (3,536)	$ (15,921)	$ (4,701)
Operating Ratios:
Loss and loss adjustment expense ratio	108.90%	86.40%	111%	78.70%
Expense ratio	37.60%	37.10%	37.80%	37.30%
Combined ratio	146.50%	123.50%	148.80%	116.10%
Premiums and agents’ balances receivable	$ 17,213	$ 16,175	$ 17,213	$ 16,175
Deferred policy acquisition costs	8,198	7,929	8,198	7,929
Reinsurance recoverables on losses	42,635	10,960	42,635	10,960
Receivable from Federal Crop Insurance Corporation
Goodwill and other intangibles	14,278	14,700	14,278	14,700
Unpaid losses and loss adjustment expenses	96,390	43,876	96,390	43,876
Unearned premiums	43,066	42,379	43,066	42,379
Payable to Federal Crop Insurance Corporation
All Other [Member]
Segment Information (Details) - Schedule of revenue by insurance product line [Line Items]
Direct premiums earned	1,313	1,277	2,622	2,541
Assumed premiums earned	326	1,200	902	3,061
Ceded premiums earned	(73)	(39)	(147)	(84)
Net premiums earned	1,566	2,438	3,377	5,518
Direct losses and loss adjustment expenses	1,754	1,165	1,777	1,491
Assumed losses and loss adjustment expenses	67	1,291	157	1,301
Ceded losses and loss adjustment expenses	(1,574)		(1,585)	(100)
Net losses and loss adjustment expenses	247	2,456	349	2,692
Gross margin	1,319	(18)	3,028	2,826
Underwriting and general expenses	389	585	898	1,373
Underwriting gain (loss)	$ 930	$ (603)	$ 2,130	$ 1,453
Operating Ratios:
Loss and loss adjustment expense ratio	15.80%	100.70%	10.30%	48.80%
Expense ratio	24.80%	24%	26.60%	24.90%
Combined ratio	40.60%	124.70%	36.90%	73.70%
Premiums and agents’ balances receivable	$ 827	$ 823	$ 827	$ 823
Deferred policy acquisition costs	464	462	464	462
Reinsurance recoverables on losses	2,341	748	2,341	748
Receivable from Federal Crop Insurance Corporation
Goodwill and other intangibles
Unpaid losses and loss adjustment expenses	8,741	9,399	8,741	9,399
Unearned premiums	$ 3,017	3,284	$ 3,017	3,284
Payable to Federal Crop Insurance Corporation