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NI Holdings NODK Write-off of deferred acquisition costs

Discontinued — last reported Q3 '25

Write-off of deferred acquisition costs at other companies

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Segments

By segment

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Crop$805K+2.4%
Private Passenger Auto$314K-95.6%
All Other$154K-89.4%

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 write-off of deferred acquisition costs?
NI Holdings (NODK) reported write-off of deferred acquisition costs of $22.23M in Q3 2025.
How has NI Holdings's write-off of deferred acquisition costs changed year-over-year?
NI Holdings's write-off of deferred acquisition costs decreased by 19.1% year-over-year, from $27.47M to $22.23M.
What does write-off of deferred acquisition costs mean?
Write-off of deferred acquisition costs

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