NI Holdings, Inc. announced the appointment of Seth C. Daggett as president and chief executive officer (CEO), effective Dec. 1, 2024.
Daggett, who has served as the company’s chief financial officer (CFO) and treasurer, succeeds Cindy L. Launer, who held the interim CEO position during the board of directors’ search for a permanent replacement.
Daggett said that he is honored to lead the company and plans to collaborate with employees and agents to strengthen the company’s customer service and community presence.
“I’m confident that we will build upon our strong and longstanding foundation in North Dakota to create lasting value for our shareholders and a new chapter of sustained growth and success. I look forward to working closely with the Board and the Company’s leadership team to help build off this foundation and lead the organization toward a successful future,” he said.
Daggett’s career includes positions such as CFO and treasurer at RAM Mutual Insurance Company and senior director of finance at Travelers Companies, Inc. He started his career as an auditor at Deloitte. A graduate of the University of North Dakota, Daggett resides in West Fargo, N.D., with his family.
Chairman of the board Eric K. Aamundstad described Daggett as a respected leader with significant industry experience and strong community ties in North Dakota.
"We are fortunate to have a proven leader in Seth, who has earned the respect of the Board, our employees, and agents for his judgment, strong leadership, extensive industry experience, and demonstrated ability to build and develop successful teams," said Aamundstad.
Meanwhile, Aamundstad expressed gratitude to Launer for her contributions as interim CEO, noting her role in guiding the company through its leadership transition.
Launer will resume her role as an independent non-executive director on the board.
With Daggett’s transition to CEO, Matt Maki, currently vice president of financial planning and analysis, will step into the role of interim CFO, also effective Dec. 1, 2024.
The company intends to launch an immediate search for a permanent CFO but has not specified a timeline.
Maki joined NI Holdings after serving as vice president of accounting and treasurer at RAM Mutual Insurance Company. He began his career as an auditor at Ernst & Young and held various finance and treasury roles at Travelers Companies, Inc. Maki is a graduate of the University of Wisconsin–Eau Claire and lives in Duluth, Minn.
NI Holdings operates as an insurance holding company based in North Dakota. Its subsidiaries include Nodak Insurance Company, American West Insurance Company, Primero Insurance Company, Battle Creek Insurance Company, and Direct Auto Insurance Company.
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