INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES

9 Months Ended

Dec. 31, 2022

Insurance [Abstract]

INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES

INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES

As of December 31, 2022, and March 31, 2022, insurance and reinsurance receivables of the Company was comprised of the following:

	December 31, 2022		March 31, 2022
Assets:			(Recasted)
Amounts due from policyholders	$	5,615	$	3,500
Claims receivable from reinsurance	897		769
Amounts due from reinsured	52		23
Less provision for impairment losses	(995)		(343)
Insurance and reinsurance receivables:	5,569		3,949
Unearned premium reserve, reinsurers’ share	3,763		143
Reserves for claims and claims’ adjustment expenses, reinsurers’ share	1,911		1,620
Total	$	11,243	$	5,712

As of December 31, 2022, and March 31, 2022, the premium receivables from policyholders increased due to the expansion of operations.

As of December 31, 2022, and March 31, 2022, insurance and reinsurance payable of the Company was comprised of the following:

	December 31, 2022		March 31, 2022
Liabilities:			(Recasted)
Amounts payable to reinsurers	$	2,405	$	402
Amounts payable to insured	2,305		685
Amounts payable to agents and brokers	2,081		1,981
Insurance and reinsurance payables:	6,791		3,068
Unearned premium reserve	31,103		17,985
Reserves for claims and claims’ adjustment expenses	118,648		98,437
Total	$	156,542	$	119,490

As of December 31, 2022, and March 31, 2022, the amount payable to agents and brokers increased due to the expansion of operations.