125 0 Kommentare NI Holdings, Inc. Files Results for Fourth Quarter and Year Ended December 31, 2019

FARGO, N.D., March 11, 2020 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) today reported its financial results for the quarter and year ended December 31, 2019.

The Company reported a 25.9 percent increase in net earned premiums for the year ended December 31, 2019 compared to 2018, although net income attributable to NI Holdings dropped to $26,401 compared to $31,081 a year ago. The total equity for NI Holdings stood at $309,803 as of December 31, 2019.

NI Holdings 12M and Q4 2019 key financial details:
Dollars in thousands, except earnings per share (unaudited)

	12M 2019	12M 2018	Change	Q4 2019	Q4 2018	Change
Net income (loss) attributable to NI Holdings	$26,401	$31,081	-15.1%	$17,129	$14,889	+15.1%
Direct written premiums ⁽¹⁾	$262,145	$225,223	+16.4%	$53,265	$51,149	+4.1%
Net earned premiums	$246,438	$195,720	+25.9%	$63,702	$54,795	+16.3%
Loss and LAE ratio ⁽²⁾	68.9%	60.8%	+8.1 pts	52.9%	40.3%	+12.6 pts
Expense ratio ⁽³⁾	27.3%	27.7%	-0.4 pts	25.6%	28.7%	-3.1 pts
Combined ratio ⁽⁴⁾	96.2%	88.5%	+7.7 pts	78.6%	68.9%	+9.7 pts
Return on average equity	9.1%	11.8%	-2.7 pts	23.0%	22.1%	+0.9 pts
Basic earnings per share	$1.19	$1.39	-$0.20	$0.77	$0.67	+$0.10
Shareholders’ equity	$309,803	$275,753	+12.4%

⁽¹⁾ Direct written premiums is a non-GAAP financial measure, representing the amount of insurance premiums purchased by policyholders during the period.
⁽²⁾ Loss and LAE ratio is a non-GAAP financial measure. It equals losses and loss adjustment expenses, divided by net premiums earned.
⁽³⁾ Expense ratio is a non-GAAP financial measure. It equals amortization of deferred policy acquisition costs and other underwriting and general expenses, divided by net premiums earned.
⁽⁴⁾ Combined ratio is a non-GAAP financial measure. It equals losses and loss adjustment expenses, amortization of deferred policy acquisition costs, and other underwriting and general expenses, divided by net premiums earned.