Company: FRHC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000924805-25-000002
Chunk: 218

Company: Freedom Holding Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 8
Chunk 218
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 (Unaudited)(All amounts in thousands of United States dollars, except share data, unless otherwise stated)

NOTE 13 – INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES

As of December 31, 2024, and March 31, 2024, assets from the Group's insurance activity comprised the following:December 31, 2024March 31, 2024Assets:Amounts due from policyholders$10,333 $10,260 Amounts due from reinsured4,064 2,274 Advances received from agent3,745 3,231 Claims receivable from reinsurance2,055 1,400 Allowance for estimated uncollectible reinsurance(1,673)(1,045)Insurance and reinsurance receivables18,524 16,120 Unearned premium reserve, reinsurers’ share3,494 4,770 Reserves for claims and claims’ adjustment expenses, reinsurers’ share4,500 4,032 Total assets from insurance activity$26,518 $24,922 As of December 31, 2024, and March 31, 2024, liabilities from the Group's insurance activity comprised the following:December 31, 2024March 31, 2024Liabilities:Amounts payable to reinsured $7,317 $2,771 Amounts payable to insurers6,597 4,294 Amounts payable to agents and brokers3,294 6,334 Insurance and reinsurance payables:17,208 13,399 Unearned premium reserve64,824 60,088 Reserves for claims and claims’ adjustment expenses325,845 223,693 Total liabilities from insurance activity$407,877 $297,180 As of December 31, 2024, and March 31, 2024, liabilities from insurance activity increased mainly due to the increase of reserves for claims and claims' adjustment expenses and the increase of unearned premium reserve as a result of the expansion of operations.

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Table of ContentsNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(All amounts in thousands of United States dollars, except share data, unless otherwise stated)

NOTE 14 – FEE AND COMMISSION INCOME

Fee and commission income is recognized when, or as, the Group satisfies its performance obligations by