Company: FRHC
Filing Date: 2025-07-29
Form Type: ARS
Source: 0000924805-25-000027
Chunk: 215

Company: Freedom Holding Corp.
Filing Date: 2025-07-29
Form: ARS
Chunk 215
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 end of the year 376,972 223,693 Reinsurance share, end of the year (3,420) (4,032) Total $ 373,552 $ 219,661 The decrease in incurred claims and claim adjustment expenses attributable to prior fiscal years primarily reflects favorable development in the Insurance of Vehicle Owners and Compulsory Employer Liability Insurance lines. The development was driven by lower-than-expected claim frequency for those prior accident years. No material assumption changes or premium adjustments were recorded as a result. Table of Contents FREEDOM HOLDING CORP. NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2024 (All amounts in thousands of United States dollars, except share data, unless otherwise stated) 142

Allocation by Contract Type Reserves for claims and claims' adjustment expenses, net of reinsurance Long-Duration Short-Duration Total March 31, 2025 $ 289,275 $ 84,277 $ 373,552 March 31, 2024 $ 165,487 $ 54,174 $ 219,661 Allocation by Insurance Products As of March 31, 2025 Reserves for claims and claims’ adjustment expenses Reserves for claims and claims’ adjustment expenses, reinsurers’ share Reserves for claims and claims’ adjustment expenses, net of reinsurance Life Insurance $ 31,136 $ — $ 31,136 Accident Insurance 12,336 — 12,336 Civil Liability 10,137 425 9,712 Vehicle Owners 7,457 — 7,457 Compulsory employer liability insurance 5,572 522 5,050 Property Damage 4,838 296 4,542 Motor Vehicle 3,700 44 3,656 Other 10,388 Total $ 84,277 Table of Contents FREEDOM HOLDING CORP. NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2024 (All amounts in thousands of United States dollars, except share data, unless otherwise stated) 143

Claims Development - Short-Duration Contracts Life Insurance Incurred losses and LAE, net of reinsurance for the years ended March 31 Accident The information about incurred and paid claims development for the years ended March 31, 2018 to 2024, is presented as supplementary information. Year 2018 2019 2020 2021 2022 2023 2024 2025 2018