What is NI Holdings's private passenger auto — combined ratio?

NI Holdings (NODK) reported private passenger auto — combined ratio of 91.7% in Q2 2026.

How has NI Holdings's private passenger auto — combined ratio changed year-over-year?

NI Holdings's private passenger auto — combined ratio decreased by 0.3% year-over-year, from 92% to 91.7%.

What does private passenger auto — combined ratio mean?

The combined ratio is the sum of the loss ratio and the underwriting expense ratio, representing the total cost of insurance operations relative to premiums earned. A ratio below 100% indicates that the segment is generating an underwriting profit, while a ratio above 100% indicates an underwriting loss.

NI Holdings (NODK) Private Passenger Auto — Combined Ratio

Screener

Other segment segments

Crop

91.8%-2.5%

All Other

55.2%+37.3%

Similar metrics at other companies

SPNTReinsurance — Combined Ratio

92.3%+2.5pp

SPNTInsurance & Services — Combined Ratio

90.7%+1.4pp

EIGInsurance Operations — Combined Ratio

107.1%+5.1pp

RDNMortgage Segment Operating — Combined Ratio

35.8%+5.4pp

RDNSpecialty Segment Operating — Combined Ratio

97.7%—

ESN

ESNTReinsurance — Combined ratio

77.9%+58.5pp

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

See full

Gross margin30.2%-1.8pp

Net margin2.9%—

FCF margin-2.4%—

Returns & leverage

See full

Return on equity-5%-2.1pp

Debt / equity0×0.0×

Where this comes from

Reported directly by NI Holdings in its filing.

Tagged under the XBRL concept us-gaap:CombinedRatio.

The source filing: NI Holdings’s 10-Q, filed August 7, 2026.

Filed: Aug 7, 2026, 4:06 PM EDT
Fiscal quarter: Q2 FY2026
Calendar quarter: Q2 2026
Accession: 0001174947-26-000777

Line item	Private Passenger Auto	Non-Standard Auto	Home and Farm	Crop	All Other	Total
Operating Ratios:
Loss and loss adjustment expense ratio	57.4%	(161.8%)	108.5%	73.0%	23.3%	74.5%
Expense ratio	34.3%	97.6%	36.0%	18.8%	31.9%	33.2%
Combined ratio	91.7%	(64.2%)	144.5%	91.8%	55.2%	107.7%
Balances at June 30, 2026:
Premiums and agents’ balances receivable	$26,595	$15	$12,479	$34,763	$3,937	$77,789
Deferred policy acquisition costs	7,099	16	11,276	1,815	1,689	21,895
Reinsurance recoverables on losses	670	—	2,536	2,423	6,812	12,441

Item 1. - Financial Statements

FAQ

What is NI Holdings's private passenger auto — combined ratio?: NI Holdings (NODK) reported private passenger auto — combined ratio of 91.7% in Q2 2026.
How has NI Holdings's private passenger auto — combined ratio changed year-over-year?: NI Holdings's private passenger auto — combined ratio decreased by 0.3% year-over-year, from 92% to 91.7%.
What does private passenger auto — combined ratio mean?: The combined ratio is the sum of the loss ratio and the underwriting expense ratio, representing the total cost of insurance operations relative to premiums earned. A ratio below 100% indicates that the segment is generating an underwriting profit, while a ratio above 100% indicates an underwriting loss.