Annual report pursuant to Section 13 and 15(d)

INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES

v3.23.2
INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES
 12 Months Ended
Mar. 31, 2023
Insurance [Abstract]  
INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES
As of March 31, 2023, and March 31, 2022, insurance and reinsurance receivables of the Company was comprised of the following:
March 31, 2023
March 31, 2022
Assets: (Recasted)
Amounts due from policyholders $ 9,699  $ 3,500 
Claims receivable from reinsurance 1,087  769 
Amounts due from reinsured 555  23 
Less provision for impairment losses (1,325) (343)
Insurance and reinsurance receivables: 10,016  3,949 
Unearned premium reserve, reinsurers’ share 2,379  143 
Reserves for claims and claims’ adjustment expenses, reinsurers’ share 1,390  1,620 
Total $ 13,785  $ 5,712 
As of March 31, 2023, and March 31, 2022, the premium receivables from policyholders increased due to the expansion of operations.
As of March 31, 2023, and March 31, 2022, insurance and reinsurance payable of the Company was comprised of the following:
March 31, 2023
 March 31, 2022
Liabilities: (Recasted)
Amounts payable to agents and brokers $ 2,466  $ 1,981 
Amounts payable to reinsurers 2,002  402 
Amounts payable to insured 1,807  685 
Insurance and reinsurance payables: 6,275  3,068 
Unearned premium reserve 43,082  17,985 
Reserves for claims and claims’ adjustment expenses 133,145  101,034 
Total $ 182,502  $ 122,087 
As of March 31, 2023, and March 31, 2022, 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.