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NI Holdings NODK Crop — Deferred Policy Acquisition Costs Impairment Loss

Other segment segments

Private Passenger Auto
$314K-95.6%
All Other
$154K-89.4%

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Other financials

Income statement

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Revenue$70.2M-7.7%
Gross profit$15.7M-13.5%
Net income$146.0K+101%
EPS (diluted)$0.01+102%

Balance sheet

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Cash & equivalents$51.6M-9.1%
Total debt$1.4M-67.2%
Total equity$243.8M+1.0%
Total assets$543.1M-12.4%

Cash flow

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Operating cash flow-$1.9M-119%
CapEx$19.0K-88.3%
Free cash flow-$1.9M-119%

Valuation

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Market cap$313.01M+19.6%
P/E40×
P/S1.2×+0.3×

Profitability

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Gross margin30.2%-1.8pp
Net margin2.9%
FCF margin-2.4%

Returns & leverage

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Return on equity-5%-2.1pp
Debt / equity0.0×

Where this comes from

Reported directly by NI Holdings in its filing.

Tagged under the XBRL concept us-gaap:DeferredPolicyAcquisitionCostsImpairmentLoss.

The source filing: NI Holdings’s 10-Q, filed November 7, 2025.

Filed
Nov 7, 2025
Fiscal quarter
Q3 FY2025
Calendar quarter
Q3 2025
Accession
0001174947-25-001356
Line itemPrivate Passenger AutoNon-Standard AutoHome and FarmCropAll OtherTotal
Combined ratio89.1%187.1%111.6%68.3%103.1%109.1%
Balances at September 30, 2025:
Premiums and agents’ balances receivable$26,652$3,048$11,603$31,574$3,196$76,073
Deferred policy acquisition costs6,7642,73710,5078051,41722,230
Reinsurance recoverables on losses2,66810,7174,3585,30823,051
Receivable from Federal Crop Insurance Corporation17,75217,752
Goodwill and other intangibles100100
Unpaid losses and loss adjustment expenses31,10673,81125,12016,46510,881157,383

Item 1. - Financial Statements

FAQ

What is NI Holdings's crop — deferred policy acquisition costs impairment loss?
NI Holdings (NODK) reported crop — deferred policy acquisition costs impairment loss of $805K in Q3 2025.
How has NI Holdings's crop — deferred policy acquisition costs impairment loss changed year-over-year?
NI Holdings's crop — deferred policy acquisition costs impairment loss increased by 2.4% year-over-year, from $786K to $805K.
What does crop — deferred policy acquisition costs impairment loss mean?
This metric measures the write-down or impairment of capitalized costs associated with acquiring new insurance policies in the crop segment. It indicates that the expected future revenue from these policies is no longer sufficient to recover the initial acquisition costs. A rising impairment loss suggests potential issues with policy profitability or aggressive initial cost capitalization.

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