NI Holdings, Inc. is classed by the SEC under Fire, Marine & Casualty Insurance (industry code 6331), based in Fargo, ND. In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $285 million and a loss of $10 million (its filed statements).
Insurance businessFire, Marine & Casualty InsuranceFargo, NDfilings since 20169 of 9 filed
Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a insurance business: prior from its industry code (SEC 6331, Fire, Marine & Casualty Insurance); the filing read can change it. All three tenses have at least two readings, so the archetype blend applies as printed.
The grade, in three tenses
Headline 3.1 out of ten, 9 of 9 metrics filed: past 3.7 out of ten, present 2.6 out of ten, future 2.8 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.
The nine metrics
Surviving crises (past): 0.4 out of ten. 3 warning events since 2017; the latest 2024-10-28. 4th percentile among 60 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Track record (past): 3.9 out of ten. +6.4% a year over 10 filed years; profitable in 6 of 10. 39th percentile among 56 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Shareholder treatment (past): 6.1 out of ten. Share count shrank 0.5% a year. 20% of cash flow returned. Insiders: 0 sales, 0 purchases. 61st percentile among 49 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Financial health (present): 4.6 out of ten. ROE -4%: lost 4¢ per shareholder dollar. Leverage 53%: owes 53¢ per asset dollar. 46th percentile among 60 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Industry position (present): 1.4 out of ten. bottom 14% of 60 in its family; net margin -3.7%. 14th percentile among 60 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Leadership (present): 0.5 out of ten. bottom 5% of 47 in its family for leadership; chief executive since 2026. 5th percentile among 47 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-09).
Room to expand (future): 3.7 out of ten. bottom 37% of 60 in its family for room to expand. 37th percentile among 60 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Growth drivers (future): 1.3 out of ten. bottom 13% of 56 in its family for growth drivers. 13th percentile among 56 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Expectations vs reality (future): 3.5 out of ten. bottom 35% of 56 in its family for expectations against reality. 35th percentile among 56 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
The filing record
Newest annual report: Form 10-K filed 2026-03-06 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-08-07 for the period ended 2026-06-30 (on EDGAR). Newest results release: Form 8-K filed 2026-08-07 (on EDGAR). Newest filing: Form 8-K, 2026-08-07. Filings on record since 2016. Read from EDGAR 2026-10-12.
Who runs it
Launer, Cindy (Chief Executive Officer); Maki, Matthew James (Chief Financial Officer); Duncan, Douglas Alan (Chief Information Officer); Elfstrand, Kevin Douglas (Chief Accounting Officer); Aasmundstad, Eric K. (director); Devlin, William Russell (director); Kaldor, Dana John (director); Mathew, Prakash (director); Missling, Jeffrey R. (director); Stende, Dave L. (director); and 1 more. 11 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-09-30.
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