Company Quick10K Filing
NI Holdings
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 22 $408
10-Q 2019-11-06 Quarter: 2019-09-30
10-Q 2019-08-07 Quarter: 2019-06-30
10-Q 2019-05-08 Quarter: 2019-03-31
10-K 2019-03-13 Annual: 2018-12-31
10-Q 2018-11-13 Quarter: 2018-09-30
10-Q 2018-08-03 Quarter: 2018-06-30
10-Q 2018-05-04 Quarter: 2018-03-31
10-K 2018-03-07 Annual: 2017-12-31
10-Q 2017-11-13 Quarter: 2017-09-30
10-Q 2017-08-11 Quarter: 2017-06-30
10-Q 2017-05-12 Quarter: 2017-03-31
10-K 2017-04-07 Annual: 2016-12-31
8-K 2020-01-01 Regulation FD, Other Events, Exhibits
8-K 2019-11-13 Officers, Exhibits
8-K 2019-11-06 Earnings, Exhibits
8-K 2019-10-28 Regulation FD, Other Events
8-K 2019-08-07 Earnings, Exhibits
8-K 2019-05-21 Shareholder Vote, Regulation FD, Exhibits
8-K 2019-05-08 Earnings, Exhibits
8-K 2019-03-13 Earnings, Exhibits
8-K 2018-11-13 Earnings, Exhibits
8-K 2018-08-31 M&A, Regulation FD, Exhibits
8-K 2018-08-03 Earnings, Exhibits
8-K 2018-05-31 Regulation FD, Other Events, Exhibits
8-K 2018-05-22 Shareholder Vote, Regulation FD, Exhibits
8-K 2018-05-04 Earnings, Exhibits
8-K 2018-03-07 Earnings, Exhibits
8-K 2018-03-05 Other Events, Exhibits
8-K 2018-01-11 Earnings, Other Events, Exhibits

NI Holdings Financials

NODK Metrics, Comps, Filings

Annual | Quarterly

Business

All dollar amounts, except per share amounts, are in thousands.

NI Holdings is a North Dakota business corporation that is the stock holding company of Nodak Insurance Company and became such in connection with the conversion of Nodak Mutual Insurance Company from a mutual to stock form of organization and the creation of a mutual holding company. The conversion was consummated on March 13, 2017. Immediately following the conversion, all of the outstanding shares of common stock of Nodak Insurance Company were issued to Nodak Mutual Group, which then contributed the shares to NI Holdings in exchange for 55% of the outstanding shares of common stock of NI Holdings. Nodak Insurance Company then became a wholly-owned stock subsidiary of NI Holdings. Prior to completion of the conversion, NI Holdings conducted no business and had no assets or liabilities. As a result of the conversion, NI Holdings became the holding company for Nodak Insurance Company and its existing subsidiaries.

Nodak Insurance was formed in 1946 to offer property and casualty insurance to members of the North Dakota Farm Bureau Federation (“North Dakota Farm Bureau”). Nodak Insurance's bylaws provide that a person must be a member and remain a member of the North Dakota Farm Bureau in order to become and remain a policyholder of Nodak Insurance. Nodak Insurance's bylaws also require that four members of the Board of Directors of Nodak Insurance must be members of the North Dakota Farm Bureau. Similarly, one-third of the members of the Board of Directors of Nodak Mutual Group must be persons designated by the North Dakota Farm Bureau.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Stockholders' Equity

Income Statement ($MM Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($MM Annual)

Operating, Investing, Financing

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
MBIA (MBI) 781,183 0% -151.6 -2% 8,647,000 7,594,000 157,000 0 -211,000 -2,000 303,183
Ambac (AMBC) 763,368 0% -22.6 -1% 14,713,066 13,160,150 189,494 0 -192,089 -161,776 3,663,974
EMC Insurance Group (EMCI) 693,514 0% 18.5 2% 1,788,151 1,157,589 721,853 0 32,419 37,500 693,238
United Insurance Holdings (UIHC) 597,455 0% 63.5 -1% 2,703,729 2,141,241 775,838 0 -15,894 6,247 396,672
Heritage Insurance (HRTG) 445,838 0% 4.8 1% 1,933,985 1,495,135 491,277 0 17,602 64,743 307,559
HCI Group (HCI) 435,518 0% 14.2 2% 752,140 565,646 234,004 0 14,822 27,674 392,013
Global Indemnity (GBLI) 408,298 0% -33.4 -2% 2,015,472 1,320,960 537,594 0 -35,326 -19,521 652,237
NI Holdings (NODK) 408,279 36% 6.6 8% 538,155 240,841 250,343 90,606 41,147 52,904 347,705
Greenlight Capital (GLRE) 308,635 0% 2.6 -10% 1,455,803 955,065 393,907 0 -148,714 -140,884 -359,850
Protective Insurance (PTVCA) 295,820 0% -9.1 -2% 1,571,026 1,203,610 466,563 0 -32,609 -21,934 198,715
Hallmark Financial Services (HALL) 256,062 0% 3.4 2% 1,405,768 1,116,232 426,826 0 32,664 53,624 184,906
Fednat Holding (FNHC) 177,914 0% 8.5 0% 996,283 765,498 413,772 0 1,890 17,054 144,127
Atlas Financial Holdings (AFH) 120,919 0% -2.6 -7% 501,167 399,312 228,675 0 -37,587 -27,876 71,668
Kingstone Companies (KINS) 91,781 0% 238.3 -1% 289,469 201,799 127,775 0 -3,818 429 102,268
Kingsway Financial Services (KFS) 61,868 0% -9.5 -3% 471,780 439,450 121,213 0 -14,956 -28,159 267,820
Blue Capital Reinsurance (BCRH) 60,458 0% -2.0 -21% 139,500 48,600 31,700 0 -28,800 -28,800 57,458
Maiden Holdings (MHLD) 52,337 0% 0.2 -14% 4,598,556 4,007,984 1,465,496 0 -621,477 -628,607 -149,326
ICC Holdings (ICCH) 48,171 0% 29.7 1% 163,258 101,053 55,393 0 1,157 1,419 42,126
Conifer Holdings (CNFR) 35,508 0% -5.5 -5% 243,396 196,887 95,905 0 -11,891 -9,012 49,751
1347 Property Insurance (PIH) 33,671 0% -0.1 -3% 178,716 119,115 48,068 0 -5,716 -5,584 808

Balance Sheet ($'000)2016-12-312017-12-312018-12-31
Cash18,31827,59468,950
Accounts Receivable16,76110,50116,169
Inventory
PP&E4,8195,8776,979
Assets278,703376,988458,492
Accounts Payable
Long-Term Debt
Liabilities125,285121,415182,739
Stockholders' Equity153,418255,573275,753
Income Statement ($'000)2016-12-312017-12-312018-12-31
Revenue164,349189,140212,370
Cost of Revenue132,387135,738
Gross Profit56,75376,632
R&D
SG&A
Tax3,8006,3947,328
Net Income4,63815,61231,244
Cash Flow ($'000)2016-12-312017-12-312018-12-31
Cash Operating7,30718,42520,955
Cash Investing-3,510-91,85723,397
Cash Financing82,708-2,996