<span item_type="fundamental" item_id="b57bc3705d8f608a87489a38cc33aed6" counter_id="ST/US/NODK" env="prod"></span><span item_type="announcement" item_id="580260829884908929" env="prod"></span><p>Revenue: As of FY2025 Q3, the actual value is USD 71.91 M.</p><p></p><h3>Direct Written Premiums</h3><p>Direct written premiums for the third quarter of 2025 were $58.5 million, a decrease of 13.7% compared to $67.7 million in the same period of 2024. This decline was primarily due to an 80.0% reduction in Non-Standard Auto premiums, following the strategic decision to cease writing this business in Illinois, Arizona, and South Dakota. However, there was a 10.1% increase in Home and Farm premiums, driven by new business growth in North Dakota, rate increases, and increased insured property values.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681206/000117494725001357/ex99-1.htm"></span></p><h3>Combined Ratio</h3><p>The combined ratio for the third quarter of 2025 was 109.1%, compared to 111.0% in the prior year period. The elevated ratios in both periods were mainly due to unfavorable prior year loss reserve development in Non-Standard Auto, contributing 11.2 points and 7.2 points to the combined ratio, respectively.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681206/000117494725001357/ex99-1.htm"></span></p><h3>Net Investment Income and Gains</h3><p>Net investment income increased by 8.1% to $3.0 million, primarily driven by higher reinvestment rates in the fixed income portfolio. Net investment gains decreased by 43.5% to $1.4 million, due to lower unrealized gains on equity securities, partially offset by higher net realized gains.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681206/000117494725001357/ex99-1.htm"></span></p><h3>Net Loss</h3><p>Net loss attributable to NI Holdings for the third quarter of 2025 was - $1.666 million, a 38.4% improvement from - $2.705 million in the same period of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681206/000117494725001357/ex99-1.htm"></span></p><h3>Basic Loss Per Share</h3><p>Basic loss per share for the third quarter of 2025 was - $0.08, compared to - $0.13 in the prior year period, reflecting a 38.5% improvement.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681206/000117494725001357/ex99-1.htm"></span></p><h3>Outlook / Guidance</h3><p>The company has made a strategic decision to stop writing non-standard auto business in Illinois, Arizona, and South Dakota, which is expected to reduce future earned premiums but position the company for stronger underwriting performance and greater stability moving forward.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1681206/000117494725001357/ex99-1.htm"></span></p>

NI | 8-K: FY2025 Q3 Revenue: USD 71.91 M