NI Holdings, Inc.
Close on Oct 19, 2026
- Market cap
- $307.90M
- P/E (TTM)
- 38.8
- Dividend yield
- –
About NI
Fire, Marine & Casualty Insurance, SIC 6331
The entity operates in the property and casualty insurance sector, providing insurance protection across several targeted segments. Its core offerings comprise crop insurance, home and farm coverage, private passenger automobile insurance, non-standard automobile policies, and commercial lines. Through operating subsidiaries and member divisions, the business provides risk management solutions to individual vehicle owners, homeowners, agricultural operators, and commercial policyholders.
The organization maintains regional operations and presence across locations including Fargo, Chicago, and Spearfish, and conducts regulatory insurance activities associated with North Dakota. Operations span distinct jurisdictional and regional entities to administer coverage, underwrite risk, and serve policyholders within its designated geographic footprint.
Summary of the business section of NI's latest annual report, written by StockData.
Company profile
Company
- Legal name
- NI Holdings, Inc.
- Headquarters
- Fargo, ND
- Address
- 1101 First Avenue North 58102
- Phone
- (701) 298-4200
- Employees
- 172, Dec 31, 2025
- Industry
- Fire, Marine & Casualty Insurance
- Fiscal year ends
- December 31
- Auditor
- Mazars USA LLP, Fort Washington, Pennsylvania
Stock & identifiers
- Ticker
- NODK
- Exchange
- Nasdaq
- IPO date
- Mar 16, 2017
- Shares outstanding
- 20M, Jul 31, 2026
- Public float
- $99.00M, Jun 30, 2025
- Filer category
- Accelerated filer
- SEC CIK
- 1681206
- CUSIP
- 65342T106
- ISIN
- US65342T1060
- LEI
- 549300LLJVCO2EGU3180
- EIN
- 81-2683619
Executives and directors
Officers and directors who filed ownership reports (Forms 3, 4, 5) in the last two years
| Name | Position | Shares owned |
|---|---|---|
| Cindy Launer | Chief Executive Officer, Director | 90,800 |
| Seth C. Daggett | Chief Executive Officer, Director | 90,420 |
| Kevin Douglas Elfstrand | Chief Accounting Officer | 23,243 |
| Matthew James Maki | Chief Financial Officer | 61,723 |
| Douglas Alan Duncan | Chief Information Officer | 11,100 |
| Callie Jean Thomas | Director | 5,015 |
| William Russell Devlin | Director | 36,739 |
| Jeffrey R. Missling | Director | 32,739 |
| Prakash Mathew | Director | 16,139 |
| Dave L. Stende | Director | 8,939 |
| Eric K. Aasmundstad | Director | 41,153 |
| Dana John Kaldor | Director | 10,767 |
| Duaine Espegard | Director | 36,724 |
CEO pay and shareholder return
Pay versus performance table from the proxy statement
| Fiscal year | CEO total pay | CEO pay actually paid | Other executives (avg) | Value of $100 invested | Peer group |
|---|---|---|---|---|---|
| FY2025 Daggett | $3.93M | $2.67M | $822.97K | $81 | $222 |
| FY2025 Launer | $712.52K | $756.64K | $822.97K | $81 | $222 |
| FY2024 Alexander | $5.37M | $3.51M | $1.04M | $96 | $203 |
| FY2024 Daggett | $1.63M | $1.48M | $1.04M | $96 | $203 |
| FY2024 Launer | $460.15K | $470.29K | $1.04M | $96 | $203 |
| FY2023 Alexander | $2.40M | $2.16M | $730.18K | $79 | $152 |
“Actually paid” adjusts reported pay for changes in the value of equity awards. Shareholder return assumes $100 invested at the start of the measurement period, as disclosed by the company.
Employees
Headcount reported in annual reports
“had 172 total employees, of which 166 were full-time employees.”
Corporate history
Events identified from SEC filings
| Date | Event | Details |
|---|---|---|
| Jul 5, 2024 | Acquisition / sale | Completion of acquisition or disposition of assets (8-K Item 2.01) |
| Jun 5, 2024 | Auditor change | Change in certifying accountant (8-K Item 4.01) |
| Sep 5, 2018 | Acquisition / sale | Completion of acquisition or disposition of assets (8-K Item 2.01) |
| Apr 3, 2017 | Late filing | Notification of late filing |
| Dec 22, 2016 | Listing | Registration of securities on an exchange (Form 8-A) |