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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
NI Holdings
NI Holdings (NODK) investor relations material
NI Holdings Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary6 Nov, 2026
Executive summary
Q3 net income was $5.528 million, or $0.27 per diluted share, versus a $1.666 million loss; 9M net income was $18.182 million versus a $7.257 million loss.
Underwriting returned to profit, with Q3 underwriting gain of $4.191 million and a 93.6% combined ratio; 9M underwriting gain was $10.425 million and the combined ratio was 94.4%.
Financial highlights
Q3 total revenue was $68.577 million versus $76.568 million; 9M revenue was $198.413 million versus $224.059 million.
Net premiums earned declined 8.6% to $65.756 million in Q3 and 12.5% to $185.886 million in 9M, reflecting non-standard auto runoff; Q3 gross premiums written fell 7.2% to $54.346 million.
Q3 losses and LAE were $42.138 million versus $56.197 million; 9M losses and LAE were $113.911 million versus $161.329 million.
Net investment income was $2.716 million in Q3 and $8.181 million in 9M; Q3 net investment loss was $0.093 million, while 9M net investment gains were $3.674 million.
Cash and investments were $347.888 million at September 30, 2026; shareholders’ equity was $244.521 million.
Outlook and guidance
Further near-term declines in non-standard auto net premiums earned are expected as policies run off following underwriting exits.
Operating and investment liquidity is expected to cover claims and operating costs for the foreseeable future; non-standard auto runoff may require securities sales to fund claims.
Strategic priorities are progressing, with confidence in delivering more consistent, profitable performance and long-term shareholder value.
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Latest events from NI Holdings
- Profitability improved in Q2 2026 with positive net income and a lower combined ratio.NODK
Q2 2026 - Net income surged to $12.5M with a 79.7% combined ratio, driven by underwriting and reserve gains.NODKQ1 2026
- Premiums and earnings fell in 2025, but core business and investment income showed resilience.NODKQ4 2025
- Annual meeting to vote on directors, auditor, and executive pay, with online access encouraged.NODKProxy Filing
- Annual meeting covers director elections, auditor ratification, and executive pay approval.NODKProxy Filing
- Net loss narrowed to $1.7M as premiums fell and combined ratio improved to 109.1%.NODKQ3 2025
- Catastrophe losses and market exits led to a Q2 net loss and elevated combined ratio.NODKQ2 2025
- Quarterly net loss driven by weather losses, CEO transition, and Westminster sale.NODKQ3 2024
- Net loss increased to $16.2M on higher losses and a one-time sale charge; premiums grew 8%.NODKQ2 2024
Next NI Holdings earnings date
Q4 20263 Mar, 2027
NI Holdings
Next NI Holdings earnings date
Q4 20263 Mar, 2027
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Frequently asked questions
NI Holdings, Inc. is a publicly held holding company primarily engaged in underwriting property and casualty insurance in the United States. Through its subsidiaries, including Nodak Insurance Company, the company offers a range of insurance products such as private passenger auto, non-standard automobile, homeowners, farm owners, crop hail, multi-peril crop, and liability insurance. Nodak Insurance distributes its products through captive agents, while other subsidiaries use independent agents for distribution. The company is headquartered in Fargo, North Dakota, and its shares are listed on the NASDAQ.