NI HOLDINGS INC (NODK)
Financials · Regional property and casualty insurance · NASDAQ
A regional property and casualty insurance holding company centered on North Dakota's largest domestic insurer, offering auto, homeowner, and commercial coverage through multiple subsidiary brands.
What NI HOLDINGS INC does
NI Holdings is a holding company for regional property and casualty insurance subsidiaries, primarily Nodak Insurance Company, which operates as the largest domestic P&C insurer based in North Dakota. The company writes private passenger auto, homeowner, and commercial lines insurance primarily in the upper Midwest and is organized through a tiered subsidiary structure including Direct Auto Insurance Company and American West Insurance Company. The company went public in 2017 following the conversion of Nodak Mutual Insurance Company from mutual to stock form.
Themes: ["Regional property and casualty insurance","Upper Midwest insurance markets","Direct-to-consumer insurance distribution","Mutual holding company structure"]
Fundamentals
- Price$15.75 as of 2026-07-09 close
- Market cap$325M as of 2026-07-10
- 1-year return+19.8% as of 2026-07-09 close
- Net margin-1.6% as of 2026-07-10
- ROE-1.8% as of 2026-07-10
- Debt / equity0.00 as of 2026-07-10
- Revenue growth (YoY)-15.4% as of 2026-07-10
- Revenue CAGR (3y)+2.1% SEC XBRL
- Beta0.35 as of 2026-07-10
Key risks (from latest filing)
["Negative revenue growth (-15.45% YoY) and unprofitability (net margin -1.61%) indicate operational challenges and potential underwriting losses in current market conditions","Exposure to macroeconomic fluctuations, interest rate volatility, and investment portfolio performance which impact both underwriting and investment income","Concentration risk in upper Midwest regional markets and potential competition from larger national insurers and emerging digital competitors"]
Competitors & peers
- State Auto Financial Corporation
- American Equity Investments
- Regional mutual insurance companies and independent carriers in the upper Midwest
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.