NI Holdings Inc. has received a downgraded Long-Term Issuer Credit Rating from AM Best, moving from "a+" to "a," while maintaining a stable outlook. The Financial Strength Rating remains at A (Excellent). This change reflects volatility in Nodak's operating results due to weather-related losses, inflationary pressures, and challenges in specific business lines. Despite improvements, Nodak's performance remains below industry standards. Management is addressing these issues with strategic changes to enhance future results.
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