NI Holdings, Inc. reported a consolidated net loss from continuing operations of $12.051 million for the second quarter ended June 30, 2025, compared to a net loss of $7.478 million in the prior year period. The six-month period ended June 30, 2025, saw a net loss of $5.591 million, a notable increase from $543 thousand in the first half of 2024.
The second quarter was negatively impacted by a significant catastrophe event in North Dakota, primarily affecting the Home and Farm segment, where the combined ratio reached 166.4%. This event exceeded the company's $20 million retention. Total net premiums earned decreased by 14.3% in Q2 2025 and 9.4% year-to-date, largely due to strategic reductions in the Non-Standard Auto segment.
The company also provided details on the sale of Westminster American Insurance Company on June 30, 2024, for a net amount of $12.272 million, which resulted in an after-tax loss on sale of discontinued operations of $11.148 million. Furthermore, NI Holdings is exiting the Nevada Non-Standard Auto market and substantially reducing written premium in the Chicago market, alongside a full impairment of goodwill related to the Primero acquisition in 2024.
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