NI Holdings, Inc.
NI Holdings, Inc. (Nasdaq: NIHO) operates as a regional property and casualty insurance holding company headquartered in North Dakota. The company's website is www.niholdingsinc.com. Through its subsidiaries, NI Holdings provides personal lines, commercial, and specialty insurance products across multiple states in… From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What NI Holdings, Inc. does
In the company’s own words
NI Holdings, Inc. (Nasdaq: NIHO) operates as a regional property and casualty insurance holding company headquartered in North Dakota. The company's website is www.niholdingsinc.com. Through its subsidiaries, NI Holdings provides personal lines, commercial, and specialty insurance products across multiple states in the upper Midwest and select western regions.
The company's primary operating subsidiary, Nodak Insurance Company, is the largest property and casualty insurer domiciled in North Dakota and maintains a strong marketing affiliation with the North Dakota Farm Bureau. Nodak Insurance distributes products through 59 exclusive captive agents and offers private passenger auto, homeowners, farmowners, commercial multi-peril, excess liability, dwelling, crop hail, and Federal multi-peril crop insurance coverages. American West Insurance Company, operating through 64 independent agencies, writes similar personal lines and crop coverage across eight Midwest and Western states. Battle Creek Insurance Company, a wholly-owned subsidiary as of January 2024, provides auto, homeowners, and farm coverage in Nebraska through 103 independent agencies. Primero Insurance Company and Direct Auto Insurance Company historically provided non-standard auto coverage but have strategically discontinued these operations.
The company's reportable segments reflect its product mix: Private Passenger Auto accounted for 32.8 percent of direct premiums written in 2025, Home and Farm represented 39.9 percent, Crop insurance comprised 12.7 percent, Non-Standard Auto contributed 8.8 percent, and All Other coverages represented 5.8 percent. Direct premiums written totaled approximately $289.8 million in 2025. The company maintains an intercompany reinsurance pooling arrangement among its insurance subsidiaries, allowing them to be evaluated on a group basis by rating agencies. All insurance subsidiaries hold an "A" Excellent financial strength rating from A.M. Best.
NI Holdings completed its conversion from mutual to stock form in March 2017 and conducted an initial public offering. The company divested Westminster American Insurance Company in June 2024, which previously underwritten commercial multi-peril insurance across 18 states. The organization employs a unified executive management team providing oversight across all subsidiaries while maintaining disciplined underwriting practices, comprehensive reinsurance programs, and a conservatively managed investment portfolio supporting long-term policyholder protection and shareholder value creation.
Company details
- Sector
- Financials
- Industry
- Property & Casualty Insurance
- Headquarters
- FARGO, ND
- Fiscal year end
- December
- CIK
- 1681206
- SIC
- 6331
Financial performance, year by year
Fiscal 2016–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns NI Holdings, Inc. — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · NI Holdings, Inc.’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
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