| Assets and Liabilities Related to Insurance Contracts |
| | | | | | | | | | 12.31.24 | 12.31.23 | | Insurance contract assets | 37,178,393 | 23,220,782 | | Insurance contract liabilities | (723,224,667) | (249,901,470) | | Liabilities for remaining coverage | (441,316,786) | 46,854,867 | | Estimates of the present value of cash flows | (320,439,859) | (4,339,450) | | Risk adjustment | (61,355,962) | (205,644) | | Contractual service margin | (111,203,132) | (3,020,038) | | Loss component | (1,473,416) | (1,007,592) | | Premium reserve - Simplified Model | 53,155,583 | 55,427,591 | | Liabilities for incurred claims | (244,729,488) | (273,535,555) | | Estimates of the present value of cash flows | (240,290,047) | (269,393,039) | | Risk adjustment | (4,439,441) | (4,142,516) | | Reinsurance contract assets | 59,124,372 | 67,655,158 | | Reinsurance contract liabilities | — | (5,115,361) | | Liabilities for remaining coverage | 20,417,994 | 10,214,497 | | | | | | | | | | | Premium reserve - Simplified Model | 20,417,994 | 10,214,497 | | Liabilities for incurred claims | 38,706,378 | 52,325,300 | | Estimates of the present value of cash flows | 38,544,485 | 52,168,754 | | Risk adjustment | 161,893 | 156,546 |
| | | | | | | | | | | | | | | | | | | LRC | LIC | | | Excluding LC | LC | Present value of future cash flows | Risk adj. for non-fin. risk | Total | | Opening insurance contract assets | 35,113,644 | (908,414) | (10,667,337) | (317,111) | 23,220,782 | | Opening insurance contract liabilities | 12,748,815 | (99,178) | (258,725,702) | (3,825,405) | (249,901,470) | | Net balance as at December 31, 2023 | 47,862,459 | (1,007,592) | (269,393,039) | (4,142,516) | (226,680,688) | | Insurance revenue | 408,727,524 | — | — | — | 408,727,524 | | Incurred claims and other directly attributable expenses | — | — | (323,880,079) | (2,673,742) | (326,553,821) | | Changes that relate to past service – changes in the FCF relating to the LIC | — | — | 16,286,574 | 368,800 | 16,655,374 | | Losses on onerous contracts and reversal of those losses | — | (1,010,716) | — | — | (1,010,716) | | Insurance acquisition cash flows amortization | (88,995,442) | — | — | — | (88,995,442) | | Insurance service expenses | (88,995,442) | (1,010,716) | (307,593,505) | (2,304,942) | (399,904,605) | | Insurance service result | 319,732,082 | (1,010,716) | (307,593,505) | (2,304,942) | 8,822,919 | | IAS 29 + Finance expenses from insurance contracts held | (66,170,789) | 544,892 | 92,247,544 | 2,008,017 | 28,629,664 | | Total amounts recognized in comprehensive income | 253,561,293 | (465,824) | (215,345,961) | (296,925) | 37,452,583 | | Cash flows | | | | | | | Premiums received | (324,561,175) | — | — | — | (324,561,175) | | Claims and other directly attributable expenses paid | — | — | 244,448,953 | — | 244,448,953 | | Insurance acquisition cash flows | 60,904,074 | — | — | — | 60,904,074 | | Total cash flows | (263,657,101) | — | 244,448,953 | — | (19,208,148) | | Acquisitions | (477,610,021) | — | — | — | (477,610,021) | | Net balance as at December 31, 2024 | (439,843,370) | (1,473,416) | (240,290,047) | (4,439,441) | (686,046,274) | | Closing insurance contract liabilities | (487,524,312) | (1,470,691) | (229,963,515) | (4,266,149) | (723,224,667) | | Closing insurance contract assets | 47,680,942 | (2,725) | (10,326,532) | (173,292) | 37,178,393 | | Net balance as at December 31, 2024 | (439,843,370) | (1,473,416) | (240,290,047) | (4,439,441) | (686,046,274) |
| | | | | | | | | | | | | | | | | | | LRC | LIC | | | Excluding LC | LC | Present value of future cash flows | Risk adj. for non-fin. risk | Total | | Opening reinsurance contract assets | 18,634,137 | 442,134 | 48,500,231 | 78,656 | 67,655,158 | | Opening reinsurance contract liabilities | (8,861,774) | — | 3,668,523 | 77,890 | (5,115,361) | | Net balance as at December 31, 2023 | 9,772,363 | 442,134 | 52,168,754 | 156,546 | 62,539,797 | | Reinsurance expenses | (25,109,117) | — | — | — | (25,109,117) | | Incurred claims recovery | — | — | 29,325,866 | 63,740 | 29,389,606 | | Changes that relate to past service - changes in the FCF relating to incurred claims recovery | — | — | 4,472,181 | 30,373 | 4,502,554 | | Loss recovery component | — | (203,033) | — | — | (203,033) | | Net income (expenses) from reinsurance contracts held | (25,109,117) | (203,033) | 33,798,047 | 94,113 | 8,580,010 | | IAS 29 + Finance results from reinsurance contracts held | (1,227,854) | (239,101) | (30,189,140) | (88,766) | (31,744,861) | | Total amounts recognized in comprehensive income | (26,336,971) | (442,134) | 3,608,907 | 5,347 | (23,164,851) | | Cash flows | | | | | | | Premiums paid net of ceding commissions and other directly attributable expenses paid | 36,982,602 | — | — | — | 36,982,602 | | Recoveries from reinsurance | — | — | (17,233,176) | — | (17,233,176) | | Total cash flows | 36,982,602 | — | (17,233,176) | — | 19,749,426 | | Acquisitions | — | — | — | — | — | | Net balance as at December 31, 2024 | 20,417,994 | — | 38,544,485 | 161,893 | 59,124,372 | | Closing reinsurance contract liabilities | — | — | — | — | — | | Closing reinsurance contract assets | 20,417,994 | — | 38,544,485 | 161,893 | 59,124,372 | | Net balance as at December 31, 2024 | 20,417,994 | — | 38,544,485 | 161,893 | 59,124,372 |
| | | | | | | | | | | | | | | | | | | LRC | LIC | | | Excluding LC | LC | Present value of future cash flows | Risk adj. for non-fin. risk | Total | | Opening insurance contract assets | 16,812,511 | — | (8,051,563) | (495,793) | 8,265,155 | | Opening insurance contract liabilities | (3,907,579) | — | (5,636,704) | (73,923) | (9,618,206) | | Net balance as at December 31, 2022 | 12,904,932 | — | (13,688,267) | (569,716) | (1,353,051) | | Insurance revenue | 226,451,962 | — | — | — | 226,451,962 | | Incurred claims and other directly attributable expenses | — | — | (113,944,635) | 775,269 | (113,169,366) | | Charges that relate to past service - changes in the FCF relating to the LIC | — | — | (2,479,112) | — | (2,479,112) | | Losses on onerous contracts and reversal of those losses | — | (1,007,592) | — | — | (1,007,592) | | Insurance acquisition cash flows amortization | (22,359,577) | | | | (22,359,577) | | Insurance service expenses | (22,359,577) | (1,007,592) | (116,423,747) | 775,269 | (139,015,647) | | Insurance service result | 204,092,385 | (1,007,592) | (116,423,747) | 775,269 | 87,436,315 | | IAS 29 + Finance expenses from insurance contracts held | (12,852,410) | — | 3,687,151 | 203,177 | (8,962,082) | | Total amounts recognized in comprehensive income | 191,239,975 | (1,007,592) | (112,736,596) | 978,446 | 78,474,233 | | Cash flows | | | | | | | Premiums received | (231,554,628) | — | — | — | (231,554,628) | | Claims and other directly attributable expenses paid | — | — | 92,183,443 | — | 92,183,443 | | Insurance acquisition cash flows | 36,818,136 | — | — | — | 36,818,136 | | Total cash flows | (194,736,492) | — | 92,183,443 | — | (102,553,049) | | Acquisitions | 38,454,044 | — | (235,151,619) | (4,551,246) | (201,248,821) | | Net balance as at December 31, 2023 | 47,862,459 | (1,007,592) | (269,393,039) | (4,142,516) | (226,680,688) | | Closing insurance contract liabilities | 12,748,815 | (99,178) | (258,725,702) | (3,825,405) | (249,901,470) | | Closing insurance contract assets | 35,113,644 | (908,414) | (10,667,337) | (317,111) | 23,220,782 | | Net balance as at December 31, 2023 | 47,862,459 | (1,007,592) | (269,393,039) | (4,142,516) | (226,680,688) |
| | | | | | | | | | | | | | | | | | | LRC | LIC | | | Excluding LC | LC | Present value of future cash flows | Risk adj. for non-fin. risk | Total | | Opening reinsurance contract assets | (305,911) | — | 515,367 | 24,051 | 233,507 | | Opening reinsurance contract liabilities | — | — | — | — | — | | Net balance as at December 31, 2022 | (305,911) | — | 515,367 | 24,051 | 233,507 | | Reinsurance expenses | (14,027,795) | — | — | — | (14,027,795) | | Incurred claims recovery | — | — | 11,681,442 | (12,109) | 11,669,333 | | Changes that relate to past service - changes in the FCF relating to incurred claims recovery | — | — | 403,692 | — | 403,692 | | Loss recovery component | — | 442,134 | — | — | 442,134 | | Net income (expenses) from reinsurance contracts held | (14,027,795) | 442,134 | 12,085,134 | (12,109) | (1,512,636) | | IAS 29 + Finance results from reinsurance contracts held | 10,322,869 | — | 9,721,563 | (16,330) | 20,028,102 | | Total amounts recognized in comprehensive income | (3,704,926) | 442,134 | 21,806,697 | (28,439) | 18,515,466 | | Cash flows | | | | | | | Premiums paid net of ceding commissions and other directly attributable expenses paid | 8,937,098 | — | — | — | 8,937,098 | | Recoveries from reinsurance | — | — | (3,127,576) | — | (3,127,576) | | Total cash flows | 8,937,098 | — | (3,127,576) | — | 5,809,522 | | Acquisitions | 4,846,102 | — | 32,974,266 | 160,934 | 37,981,302 | | Net balance as at December 31, 2023 | 9,772,363 | 442,134 | 52,168,754 | 156,546 | 62,539,797 | | Closing reinsurance contract liabilities | (8,861,774) | — | 3,668,523 | 77,890 | (5,115,361) | | Closing reinsurance contract assets | 18,634,137 | 442,134 | 48,500,231 | 78,656 | 67,655,158 | | Net balance as at December 31, 2023 | 9,772,363 | 442,134 | 52,168,754 | 156,546 | 62,539,797 |
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