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NI Holdings NODK Non Standard Auto — Combined Ratio

Other segment segments

Private Passenger Auto
80.7%-12.5%
Home And Farm
77.3%+4.0%
All Other
48.1%-45.2%

Similar metrics at other companies

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SIGIStandard Personal Lines — Combined Ratio
92.8%-5.2pp
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SIGIStandard Commercial Lines — Combined Ratio
100.2%+3.8pp
Axis Capital Holders logo
AXSInsurance — Combined Ratio
86.3%-0.4pp
Employers Holdings logo
EIGCombined Ratio
110.9%+13.0pp
SiriusPoint logo
SPNTReinsurance — Combined Ratio
84.2%-12.9pp
Progressive logo
PGRUnderwriting operations — Combined ratio
86.4%+0.4pp

Other financials

Income statement

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Revenue$59.6M-16.6%
Gross profit$15.7M-13.5%
Net income$12.5M+93.6%
EPS (diluted)$0.60+93.5%

Balance sheet

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Cash & equivalents$57.7M+0.9%
Total debt$1.4M-67.2%
Total equity$243.8M+1.0%
Total assets$492.1M-6.3%

Cash flow

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Operating cash flow-$1.9M-119%
CapEx$42.0K+110%
Free cash flow-$1.9M-119%

Valuation

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Market cap$324.43M+26.1%
P/S1.2×+0.4×

Profitability

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Gross margin30.2%-1.8pp
Net margin-1.6%
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:CombinedRatio.

The official record: NI Holdings’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is NI Holdings's non standard auto — combined ratio?
NI Holdings (NODK) reported non standard auto — combined ratio of 162.4% in Q1 2026.
How has NI Holdings's non standard auto — combined ratio changed year-over-year?
NI Holdings's non standard auto — combined ratio increased by 29.9% year-over-year, from 125% to 162.4%.
What is the long-term trend for NI Holdings's non standard auto — combined ratio?
Over 2 years (2022 to 2025), NI Holdings's non standard auto — combined ratio has grown at a 33.1% compound annual growth rate (CAGR), from 283.4% to 502%.
What does non standard auto — combined ratio mean?
The combined ratio is the sum of the loss ratio and the underwriting expense ratio, representing the total cost of underwriting relative to premiums earned. A value below one indicates underwriting profitability, while a value above one indicates an underwriting loss.