Insurance and Other Income

12 Months Ended

Mar. 31, 2023

Insurance Commissions and other income [Abstract]

Insurance and other income for the years ending March 31, 2023, 2022, and 2021 consist of:


	2023		2022		2021
Insurance revenue	$	67,153,063	$	56,270,249	$	44,214,454
Tax return preparation revenue	23,970,639		24,498,059		20,555,226
Auto club membership revenue	9,661,126		14,758,783		7,863,145

Other	7,424,855		3,993,083		4,244,079
Insurance and other income	$	108,209,683	$	99,520,174	$	76,876,904

The Company has a wholly-owned, captive insurance subsidiary that reinsures a portion of the credit insurance sold in connection with loans made by the Company. Certain coverages currently sold by the Company on behalf of the unaffiliated insurance carrier are ceded by the carrier to the captive insurance subsidiary, providing the Company with an additional source of income derived from the earned reinsurance premiums. Insurance premiums are ceded to the reinsurance subsidiary as written and revenue is recognized over the life of the related insurance contracts. As of March 31, 2023, 2022, and 2021, the amount of net written premiums by the reinsurance subsidiary were $9.0 million, $9.8 million, and $5.9 million, respectively, and the amount of earned premiums were $9.1 million, $7.6 million, and $6.0 million, respectively.

The Company maintains a cash reserve for claims in an amount determined by the ceding company, and as of March 31, 2023 and 2022, the cash reserves were $5.7 million and $6.4 million, respectively.