INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES (Tables)
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6 Months Ended |
Sep. 30, 2025 |
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| Insurance [Abstract] |
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| Schedule of Insurance and Reinsurance Receivables |
As of September 30, 2025, and March 31, 2025, insurance and reinsurance receivables of the Group were comprised of the following:
Insurance contract assets
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September 30, 2025 |
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March 31, 2025 |
| Assets: |
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| Claims receivable from reinsurance |
$ |
8,840 |
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$ |
3,023 |
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| Amounts due from reinsured |
5,937 |
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5,583 |
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| Amounts due from policyholders |
4,366 |
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15,197 |
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Advances paid for reinsurance |
1,569 |
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5,364 |
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| Less provision for impairment losses |
(6,576) |
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(2,432) |
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| Insurance and reinsurance receivables |
$ |
14,136
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$ |
26,735
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| Unearned premium reserve, reinsurers’ share |
3,163 |
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7,028 |
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| Reserves for claims and claims’ adjustment expenses, reinsurers’ share |
2,176 |
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3,420 |
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| Total |
$ |
19,475
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$ |
37,183
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| Schedule of Insurance and Reinsurance Payables |
As of September 30, 2025, and March 31, 2025, insurance and reinsurance payables of the Company was comprised of the following:
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September 30, 2025 |
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March 31, 2025 |
| Liabilities: |
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Amounts payable to insured |
$ |
4,321 |
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$ |
9,417 |
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Amounts payable to reinsurers |
1,688 |
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1,669 |
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| Amounts payable to agents and brokers |
1,426 |
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6,287 |
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| Insurance and reinsurance payables: |
$ |
7,435
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$ |
17,373
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| Unearned premium reserve |
100,859 |
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|
87,194 |
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| Reserves for claims and claims’ adjustment expenses |
411,926 |
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376,972 |
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| Total |
$ |
520,220
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$ |
481,539
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| Schedule of Liability for Unpaid Claims and Claims Adjustment Expense |
Reserve Rollforward Table
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September 30, 2025 |
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March 31, 2025 |
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Reserves for claims and claims' adjustment expenses, beginning of the period |
$ |
405,361 |
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$ |
223,693 |
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Reinsurance share, beginning of the period |
(2,343) |
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(4,032) |
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Reserves for claims and claims' adjustment expenses, net of reinsurance |
403,018
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219,661
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Claims and claims' adjustment expenses incurred: |
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Current period |
57,779 |
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234,782 |
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Prior periods, excluding discount and amortization of deferred gain |
(860) |
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(6,429) |
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Total claims and claims' adjustment expenses incurred |
56,919
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228,353
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Claims and claims' adjustment expenses paid: |
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Current period |
(14,735) |
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(27,551) |
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Prior periods |
(13,080) |
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(14,290) |
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Total claims and claims' adjustment expenses paid |
(27,815) |
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(41,841) |
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| Other changes: |
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| Foreign exchange effect |
(22,371) |
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(32,621) |
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| Total other changes |
(22,371) |
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(32,621) |
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Reserves for claims and claims' adjustment expenses, end of the period |
411,926 |
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376,972 |
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Reinsurance share, end of the period |
(2,176) |
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(3,420) |
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| Total |
$ |
409,750
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$ |
373,552
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| Schedule of Short and Long Duration Contracts within the Insurance Portfolio |
Allocation by Contract Type
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Reserves for claims and claims' adjustment expenses, net of reinsurance |
Long-Duration |
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Short-Duration |
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Total |
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September 30, 2025 |
$ |
343,758 |
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$ |
65,992 |
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$ |
409,750 |
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March 31, 2025 |
$ |
289,275 |
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$ |
84,277 |
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$ |
373,552 |
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