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Acquisition of Westminster American Insurance Company (Tables) - Westminster American Insurance Company [Member]

12 Months Ended

Dec. 31, 2021

Schedule of Proforma Information of Business Combination

The following unaudited pro forma summary presents consolidated information of the Company as if the business combination had occurred on January 1, 2019:

		Pro Forma Year Ended December 31,
		2019
Revenues		$	292,858
Net income attributable to NI Holdings, Inc.			24,394
Basic earnings per common share attributable to NI Holdings, Inc.			1.10

Schedule of Identified Assets Acquired and Liabilities Assumed

The following table summarizes the consideration transferred to acquire Westminster and the amounts of identified assets acquired and liabilities assumed at the acquisition date:

Fair Value of Consideration:
Cash consideration transferred		$	20,000
Present value of future cash consideration			18,787
Total cash consideration		$	38,787
Fair Value of Identifiable Assets Acquired and Liabilities Assumed:
Identifiable net assets:
Cash and cash equivalents		$	19,297
Fixed income securities			12,073
Equity securities			2,705
Other investments			735
Premiums and agents' balances receivable			8,507
Reinsurance recoverables on losses			763
Accrued investment income			70
Property and equipment			2,376
Federal income tax recoverable			138
State insurance licenses (included in goodwill and other intangibles)			1,800
Distribution network (included in goodwill and other intangibles)			6,700
Trade name (included in goodwill and other intangibles)			500
Value of business acquired (included in goodwill and other intangibles)			4,750
Other assets			76
Unpaid losses and loss adjustment expenses			(8,568	)
Unearned premiums			(16,611	)
Deferred income taxes, net			(1,583	)
Reinsurance premiums payable			(565	)
Accrued expenses and other liabilities			(1,132	)
Total identifiable net assets		$	32,031
Goodwill		$	6,756

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
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+ References

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-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
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