Ni Holdings, Inc. · NASDAQ:NODK
Ni — Shareholder Meeting (May 2019)
15 slides from Ni's shareholder meeting presentation, May 23, 2019
Slide 1: Annual Meeting of Shareholders | May 21, 2019
NI Holdings, Inc. Annual Meeting of Shareholders | May 21, 2019
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation contains “forward - looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on our management’s beliefs and assumptions and on informati
Slide 3: Non-GAAP Financial Measures
Non - GAAP Financial Measures NI Holdings evaluates its insurance operations in the way it believes will be most meaningful and representative of its busin ess results. Some of these measurements are “non - GAAP financial measures” under Securities and Exchange Commission rules and regulations. GAAP
Slide 4: At a Glance
NI Holdings, Inc. : At a Glance Exchange / Ticker NASDAQ: NODK Share Price (at 5/15/2019): $17.92 Shares Outstanding: 22,209,295 Market Capitalization: $397,991,000 GAAP Equity at 3/31/2019 : $293,455,000 Book Value Per Share: $13.21 NI Holdings, Inc. Nodak Insurance Company ND Domicile A.M. Best: A
Slide 5: Organization Structure: Experienced Management Team
Organization Structure: Experienced Management Team ▪ The majority of the current senior management team has been working together for the past thirteen years. ▪ Collectively, the senior management team represents over 100 years of industry experience. ▪ Throughout their careers, members of this tea
Slide 6: Insurance Operations Coverage Area
NI Holdings, Inc. Insurance Operations Coverage Area 6
Slide 7: Insurance Operations 2018 Direct Premiums Written by State
NI Holdings, Inc. Insurance Operations 2018 Direct Premiums Written by State 7
Slide 8: Insurance Operations Business Mix
NI Holdings, Inc. Insurance Operations Business Mix All Other 3.4% Non - Standard Auto* 22.6% Crop 18.6% Private Passenger Auto 26.2% Home and Farm 29.2% Direct Written Premium Year Ended Dec 31, 2018 All Other 4.1% Non - Standard Auto 5.5% Crop 25.1% Private Passenger Auto 31.1% Home and Farm 34.1%
Slide 9: Insurance Operations Overview: Direct Written Premium by Company
NI Holdings, Inc. Insurance Operations Overview $33.4 $10.9 $15.4 $135.6 $44.5 $37.8 $13.4 $20.2 $139.8 $0.0 $20.0 $40.0 $60.0 $80.0 $100.0 $120.0 $140.0 $160.0 Direct Auto* Battle Creek Primero American West Nodak Millions Direct Written Premium by Company Year Ended December 31 2018 2017 9 * Entir
Slide 10: Insurance Operations Overview: Direct Written Premium by Line of Business
NI Holdings, Inc. Insurance Operations Overview $8.0 $10.8 $49.0 $60.7 $66.0 $8.7 $57.8 $47.5 $67.0 $74.5 $- $20.0 $40.0 $60.0 $80.0 All Others Non-Standard Auto* Crop Private Passenger Auto Home and Farm Millions Direct Written Premium By Lines of Business Year Ended December 31 2018 2017 * Include
Slide 11: Financial Ratios
NI Holdings, Inc. Financial Ratios 68.4% 24.8% 93.1% 60.8% 27.4% 88.3% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% Loss and LAE Ratio Expense Ratio Combined Ratio Year Ended December 31 2017 2018 52.2% 32.9% 85.1% 51.9% 33.1% 85.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0%
Slide 12: Property/Casualty Insurance Companies and the Need for Surplus
Property/Casualty Insurance Companies and the Need for Surplus (Policyholder Protection Fund) ▪ Policyholder Surplus : Difference between an insurance company’s assets and liabilities. ▪ Premium to Surplus Ratio : Used to measure the capacity of an insurance company to write new policies. ▪ Regulato
Slide 13: Premium to Surplus Ratio
NI Holdings, Inc. Premium to Surplus Ratio 155,719 18,091 13,387 0 44,497 231,694 152,218 13,889 9,767 6,052 19,146 201,072 1.02 1.30 1.37 0.0 2.32 1.15 0 0.5 1 1.5 2 2.5 0 50,000 100,000 150,000 200,000 250,000 Nodak Insurance American West Primero Battle Creek Mutual Direct Auto Insurance Operatio
Slide 14: Equity Allocation as of December 31, 2018
NI Holdings, Inc. Equity Allocation as of December 31, 2018 Insurance Subsidiaries (Statutory) $201,072 Stat to GAAP Adjustments $10,675 Holding Company $64,006 14
Slide 15: Award-Winning Workplace
Award - Winning Workplace ▪ Nodak Insurance Company and Battle Creek Mutual Insurance Company are rated A (Excellent) by A.M. Best. American West Insurance Company carries an A - (Excellent) rating. Primero Insurance Company and Direct Auto Insurance Company are not rated. ▪ Nodak Insurance Company