NI Holdings, Inc. Reports Results for Second Quarter Ended June 30, 2025
Second Quarter Financial Performance: NI Holdings, Inc. reported a decline in direct written premiums to $109.5 million, primarily due to a significant reduction in Non-Standard Auto premiums, while the combined ratio increased to 125.1% due to higher liability loss claims and a major catastrophe event in North Dakota.
Management Commentary and Outlook: CEO Seth Daggett acknowledged the impact of recent storms on communities and emphasized the company's commitment to support insureds, while also highlighting positive investment returns and confidence in the core business despite challenges faced during the quarter.
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NI Holdings, Inc. Reveals Change in Leadership
Leadership Change at NI Holdings: Seth Daggett has resigned as President and CEO of NI Holdings, with Cindy Launer appointed as his successor, effective October 10, 2025.
Cindy Launer's Background: Launer, who previously served as Interim CEO and has extensive experience in the insurance industry, is expected to lead the company towards sustainable growth while remaining on the Board of Directors.
Cindy Launer Named CEO of NI Holdings
Leadership Change: Seth Daggett has resigned as President and CEO of NI Holdings, effective immediately, to pursue other opportunities.
New Appointment: Cindy Launer, with 18 years of insurance industry experience, has been appointed as the new President and CEO, and will also continue to serve on the Board.
