Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 248

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 248
---
 basis. Debt securities issued are initially recognized at the fair value of the consideration received, less directly attributable transaction costs. The Group has no financial covenants to comply with under the terms of its debt securities.

39

Table of ContentsFREEDOM HOLDING CORP.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (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 September 30, 2025, and March 31, 2025, the Group recognized insurance-related assets and liabilities arising from its underwriting and reinsurance activities. The disclosures below relate solely to the Group's insurance operations and not to its other operating segments (Banking, Brokerage, and Other).Nature of Insurance ProductsThe Group offers the following insurance products: - Long-Duration Contracts: Life insurance and annuity contracts - Short-Duration Contracts: General insurance products, including property (including automobile), accident, casualty, and civil liability lines.As of September 30, 2025, and March 31, 2025, insurance and reinsurance receivables of the Group were comprised of the following:Insurance contract assetsSeptember 30, 2025March 31, 2025Assets:Claims receivable from reinsurance$8,840 $3,023 Amounts due from reinsured5,937 5,583 Amounts due from policyholders4,366 15,197 Advances paid for reinsurance1,569 5,364 Less provision for impairment losses(6,576)(2,432)Insurance and reinsurance receivables$14,136 $26,735 Unearned premium reserve, reinsurers’ share3,163 7,028 Reserves for claims and claims’ adjustment expenses, reinsurers’ share2,176 3,420 Total$19,475 $37,183 As of September 30, 2025, and March 31, 2025, insurance and reinsurance payables of the Company was comprised of the following:September 30, 2025March 31, 2025Liabilities:Amounts payable to insured$4,321 $9,417 Amounts payable to reinsurers1,688 1,669 Amounts payable to agents and brokers1,426