NI Holdings Announces Leadership Change, Appoints Cindy Launer as New CEO.

NI Holdings has announced a leadership change with Seth Daggett stepping down as President and CEO to pursue other opportunities. Cindy Launer, a former interim CEO and independent director, has been appointed as the new President and CEO, effective October 10, 2025. Launer has 18 years of experience in the insurance industry and will remain on the board of directors. The company is financially strong, and Launer is expected to guide NI Holdings into its next phase of growth.

NI Holdings, Inc. (NODK) has announced a significant leadership change with Seth C. Daggett stepping down as President and CEO. The change will be effective as of October 10, 2025, and Cindy L. Launer has been appointed as the new President and CEO, also effective on the same date. Daggett's departure follows a period of strategic transitions within the company, and Launer brings extensive experience in the insurance industry to the role.

Cindy L. Launer, who previously served as Interim CEO and an independent director, has been appointed to the position. She brings 18 years of experience in the insurance sector, including a tenure as COO of AIG’s Commercial Insurance Business. Launer will continue to serve on the board of directors while assuming her new role as CEO. The company's board described NI Holdings as financially strong and expects Launer to lead a long-term strategic plan aimed at driving sustainable, profitable growth Ni Hldgs Inc Stock Price, News & Analysis^[2].

Seth C. Daggett, the former CEO, had been with the company for over two decades and played a crucial role in its operations. His departure follows a series of leadership appointments and strategic decisions aimed at strengthening the company's management team. Daggett's tenure saw several key appointments, including the promotions of Kevin Elfstrand, Brandon Nicol, Chris Oen, and Dominic Weber to senior vice president roles, as well as the appointment of Kelly Dawson as Senior Vice President and Chief Human Resources Officer .

The leadership transition comes amid challenging market conditions and operational challenges, including significant headwinds in the Non-Standard Auto segment and the impact of severe storms in North Dakota. Despite these challenges, NI Holdings has demonstrated resilience, with a focus on underwriting profitability and strategic growth in core markets such as North Dakota and South Dakota .

The company's financial performance has been mixed, with a combined ratio of 125.1% in the second quarter of 2025, reflecting the industry's volatility. However, the company has shown strength in its net investment income, which increased by 40.8% to $2.7 million in the same period .

In addition to the leadership change, NI Holdings has also announced a $5 million stock repurchase program, supplementing its existing authorization of $1.3 million from May 2022. This brings the total available for share repurchases to $6.3 million, reflecting the company's commitment to shareholder value Ni Hldgs Inc Stock Price, News & Analysis^[2].

In conclusion, NI Holdings' leadership transition under Cindy Launer marks a new chapter in the company's history. With a strong financial foundation and a strategic focus on sustainable growth, the company is poised to navigate the challenges of the insurance industry and position itself for long-term success.