NI Holdings has announced pre-tax catastrophe losses of approximately $49m, net of reinsurance, for the three months ended June 30, 2022.
According to the firm, losses were primarily in the Home/Farm and Private Passenger Auto segments driven by multiple severe storms in South Dakota and Nebraska.
Michael J. Alexander, president and chief executive officer of NI Holdings, said: “Our companies have consistently provided best-in-class underwriting while also identifying and executing growth opportunities.”
He added: “However, similar to the industry, we cannot predict the frequency or severity of storms across our geographical footprint. While there is still some uncertainty surrounding the number of claims from these events, our primary efforts are to deliver high-quality, prompt and efficient claims service in order to provide a positive experience for both our agents and policyholders.”
The news comes as the firm has seen its stock price slide in recent weeks from €17.30 a share a fortnight ago to €15.90 a share at time of writing.
