XML 65 R26.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES
 12 Months Ended
Mar. 31, 2024
Insurance [Abstract]  
INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES
As of March 31, 2024, and March 31, 2023, insurance and reinsurance receivables of the Group were comprised of the following:
March 31, 2024
March 31, 2023
Assets:
Amounts due from policyholders$10,260 $9,699 
Amounts due from reinsured2,274 555 
Claims receivable from reinsurance1,400 1,087 
Advances paid for reinsurance
3,231 — 
Less provision for impairment losses(1,045)(1,325)
Insurance and reinsurance receivables:16,120 10,016 
Unearned premium reserve, reinsurers’ share4,770 2,379 
Reserves for claims and claims’ adjustment expenses, reinsurers’ share4,032 1,390 
Total $24,922 $13,785 
As of March 31, 2024, and March 31, 2023, the premium receivables from policyholders increased due to the expansion of operations.
As of March 31, 2024, and March 31, 2023, insurance and reinsurance payables of the Company was comprised of the following:
March 31, 2024
March 31, 2023
Liabilities:
Amounts payable to agents and brokers$6,334 $2,466 
Amounts payable to reinsurers4,294 2,002 
Amounts payable to insured2,771 1,807 
Insurance and reinsurance payables:13,399 6,275 
Unearned premium reserve60,088 43,082 
Reserves for claims and claims’ adjustment expenses223,693 133,145 
Total$297,180 $182,502 
As of March 31, 2024, and March 31, 2023, liabilities from insurance activity mainly changed due to the increase of reserves for claims and claim's adjustment expenses, unearned premium reserve and the amount payable to agents and brokers as a result of the expansion of operations.