Company: FRHC
Filing Date: 2025-04-09
Form Type: CORRESP
Source: 0000924805-25-000004
Chunk: 0

Company: Freedom Holding Corp.
Filing Date: 2025-04-09
Form: CORRESP
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April 9, 2025

United States Securities and Exchange Commission

Division of Corporation Finance

Office of Crypto Assets

100 F Street, N.E.

Washington, D.C. 20549

Attention: Rolf Sundwall

David Irving

Re:

#### Freedom Holding Corp.
Form 10-K for the Fiscal Year Ended March 31, 2024

#### File No. 001-33034
Dear Messrs. Sundwall and Irving:

Freedom Holding Corp. (the “Company”) submits this letter in response to the comment letter dated March 26, 2025 (the “Comment Letter”) from the staff of the Division of Corporation Finance (the “Staff”) of the Securities and Exchange Commission (the “Commission”) relating to the above referenced Annual Report on Form 10-K for the fiscal year ended March 31, 2024 (the “2024 Form 10-K”).

For the Staff’s convenience, the Staff’s comments are set forth below in their entirety in bold and italics, followed by the corresponding responses from the Company. Unless otherwise indicated, capitalized terms used herein have the meanings assigned to them in the 2024 Form 10-K.

United States Securities and Exchange Commission

April 9, 2025

Page 2

Form 10-K for the Fiscal Year Ended March 31, 2024

Item 8. Financial Statements and Supplementary Data

Notes to Audited Consolidated Financial Statements March 31, 2024

Note 17 - Insurance Contract Assets and Liabilities from Insurance Activities, page 148

#### 1.
Please revise future filings to provide the detailed rollforward discloses as required by ASC 944-40-50-3.

Response: We acknowledge the Staff’s comment and advise the Staff that we will include in future filings starting with our Form 10-K for the year ended March 31, 2025 the detailed rollforward disclosure as required by ASC 944-40-50-3. Our proposed template disclosure to be included in the financial statements note on insurance contract assets and liabilities from insurance activities in future filings is set forth is provided below:

Reserves for claims and claims’ adjustment expenses represent the accumulation of estimates of unpaid claims, including estimates for claims incurred but not reported and loss adjustment expenses, less applicable discount. The table below represents the movement of those reserves, including both short-duration and long-duration contracts during the years ended March 31, 2025 and March 31, 2024:

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