Company: FRHC
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000924805-25-000031
Chunk: 242

Company: Freedom Holding Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 242
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)/Increase due to change in(amounts in thousands)RateVolumeNetInterest incomeInterest income on trading securities$(12,286)$(42,266)$(54,552)Interest income on loans to customers(1,903)11,230 9,327 Interest income on margin loans to customers4,470 23,622 28,092 Interest income on available-for-sale securities(1,096)6,079 4,983 Interest income on held-to-maturity securities— 5,173 5,173 Other interest income— — (1,586)Total interest income$(10,815)$3,838 $(8,563)

Insurance premiums earned, net of reinsurance

For the three months ended June 30, 2025, we had insurance premiums earned, net of reinsurance of $153.3 million, an increase of $23.8 million, or 18%, as compared to the three months ended June 30, 2024. The increase was primarily attributable to a $24.5 million, or 17%, due to the expansion of our insurance operations such as in the pension annuity and accident insurance between the two quarters. This increase in income from written insurance premiums was partially offset by a $3.8 million increase in change in unearned premium reserve, net for the three months ended June 30, 2025, as compared to the three months ended June 30, 2024. The following table sets out information on our insurance premiums earned, net of reinsurance for the periods presented.

Three months ended June 30,(amounts in thousands)20252024Amount Change%ChangeWritten insurance premiums$171,983 $147,444 $24,539 17 %Reinsurance premiums ceded(1,078)(4,180)3,102 (74)%Change in unearned premium reserve, net(17,648)(13,856)(3,792)27 %Insurance premiums earned, net of reinsurance$153,257 $129,408 $23,849 18 %

Net gain on foreign exchange operations

For the three months ended June 30, 2025, we realized a net loss on foreign exchange operations of $12.9 million compared to a net gain of $8.1 million for the three months ended June 30, 2024. The change was primarily due to the translation loss in the amount of $36.7