NODK PRESS-RELEASE SEC Filing Analysis

Latest settled — T+20d

NODK ▼ -1.59% at T+20d

SHORT call ✓ call won +1.59% · α vs SPY -1.22% · entry $12.92 → $12.71

Next anchor: T+60d in 9d

Last close $13.93 (close May 22) · -7.86% from $12.92 entry (call sign-flipped)

Entry anchored
Mar 6, 03:59 PM ET
via Databento tick

T+1d

-2.05%

call +2.05% · α +1.87%

$12.65

settled 3mo ago

T+5d

+1.97%

call -1.97% · α -3.33%

$13.17

settled 2mo ago

T+20d

-1.59%

call +1.59% · α -1.22%

$12.71

settled 7w ago

T+60d

—

call — · α —

—

in 9d

Price Chart

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Executive Summary

NI Holdings (NODK) reported a significant decline in full-year 2025 financial performance, with a loss per share of $(0.50) compared to earnings of $0.31 in 2024. Revenue and profitability deteriorated due to strategic exits from Non-Standard Auto markets, unfavorable reserve development, and a major catastrophe event in North Dakota, resulting in a full-year combined ratio of 109.9%.

Key Financial Metrics

Revenue

$270.7M

-12.7% YoY

EPS

$-0.50

Actionable Insight

Traders should monitor whether the company can stabilize reserves and return to profitability in 2026, given management's focus on core operations. The elevated combined ratio and reserve issues suggest ongoing risk; short-side pressure may persist unless underwriting performance improves materially.

Key Facts

Full-year net earned premiums declined 12.7% to $270.7 million
Combined ratio worsened to 109.9% from 100.7%, indicating underwriting losses
Loss per share was $(0.50) in 2025 vs. $0.31 in 2024
Unfavorable prior-year reserve development in Non-Standard Auto segment
Historic catastrophe in North Dakota exceeded $20M reinsurance retention
Strategic exit from Non-Standard Auto in Illinois, Arizona, and South Dakota

Financial Impact

Net loss of $10.4 million in 2025 vs. net loss of $6.1 million in 2024; 72% decline in earnings per share

revenueepscombined_ratioloss_reservesnet_income

Risk Factors

Continued adverse reserve development in exited Non-Standard Auto lines
Catastrophe exposure in North Central U.S. with limited reinsurance protection
Forward-looking optimism not supported by current financial trends

Market Snapshot

Exchange

Nasdaq

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3251320

4 reports for NODK

T+1T+5T+20T+60

Filters

Reports for NODK — sortable, filterable
	Type				Now
May 8, 2026 15d ago	Press Release MIXED ★ 5/10	$13.37 $14.01	▲ +4.79%	▲ +4.87%	$13.93 (+4.19%)
May 8, 2026 15d ago	8-K MIXED ★ 6/10	$13.37 $14.01	▲ +4.79%	▲ +4.87%	$13.93 (+4.19%)
Apr 8, 2026 6w ago	DEFA14A NEUTRAL ★ 3/10	$13.14 $12.96	▼ −1.37%	▼ −4.56%	$13.93 (+6.01%)
Mar 6, 2026 11w ago	Press Release BEARISH ★ 8/10	$12.92 $13.17	▼ −1.97%	▼ −3.33%	$13.93 (−7.86%)

US Market Status

Market Closed — Opens Tue (34h 49m)

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