Company: FRHC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000924805-25-000002
Chunk: 145

Company: Freedom Holding Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 1
Chunk 145
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 by a $4.2 million decrease in reinsurance premiums ceded for the nine months ended December 31, 2024, as compared to the nine months ended December 31, 2023. The following table sets out  information on our insurance underwriting income for the periods presented.

Nine months ended December 31,(amounts in thousands)20242023Amount Change%ChangeWritten insurance premiums494,121 191,231 302,890 158 %Reinsurance premiums ceded(10,124)(5,915)(4,209)71 %Change in unearned premium reserve, net(16,773)(3,434)(13,339)388 %Insurance underwriting income$467,224 $181,882 $285,342 157 %

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Expense

The following table sets out information on our total expense for the periods presented.

Nine months ended December 31, 2024Nine months ended December 31, 2023Change(amounts in thousands)Amount%*AmountAmount%Fee and commission expense$264,911 19 %$103,116 12 %$161,795 157 %Interest expense401,519 28 %365,650 44 %35,869 10 %Insurance claims incurred, net of reinsurance218,504 15 %96,491 11 %122,013 126 %Payroll and bonuses201,129 14 %116,711 14 %84,418 72 %Professional services26,468 2 %24,793 3 %1,675 7 %Stock compensation expense36,088 3 %3,303 1 %32,785 993 %Advertising expense58,722 4 %27,805 3 %30,917 111 %General and administrative expense171,782 12 %86,211 10 %85,571 99 %Provision for allowance for expected credit losses39,269 3 %15,462 2 %23,807 154 %Total expense$1,418,392 100 %$839,542 100 %$578,850 69 %              ______________

*    Percentage of total expense.

Fee and commission expense 

The following table sets forth information regarding our fee and commission expense for the periods presented.

Nine months ended December 31