NI Holdings Q2 2026: Net income of $146,000 vs. -$12.1M loss, as reserve releases offset 7.7% revenue decline

Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 8, 2025 · ~2 min read

Key Changes

• high

  Net income swung to $146K in Q2 2026 from a $12.1M loss in Q2 2025, driven by $10.1M of favorable prior-year reserve development (primarily Non-Standard Auto and Home & Farm) and lower catastrophe losses, offsetting a 7.7% revenue decline to $70.2M.

  MD&A: Net Income & Reserve Development verify on EDGAR →
• high

  Non-Standard Auto premiums collapsed 93.5% in Q2 2026 as the company nears completion of its strategic exit from Illinois, Arizona, and South Dakota (announced Q3 2025), following earlier exits from Nevada and Chicago. The segment is nearly fully run off.

  MD&A: Non-Standard Auto Premiums verify on EDGAR →
• high

  Operating cash flows swung provided in H1 2025 to $1.0M used in H1 2026, driven by lower premium collections from the non-standard auto run-off, partially offset by higher net investment gains ($1.7M vs. $433K) from fixed-income sales to fund claim payments.

  MD&A: Operating Cash Flows verify on EDGAR →