MILLI RE 2020 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2020 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) Insurance risk concentrations The Company’s gross and net insurance risk concentrations (net of reinsurer share) in terms of insurance branches are summarized as below: December 31, 2020 Branches Gross total claims liability (*) Reinsurance share of total claims liability Net total claims liability Fire and natural disasters 503.437.397 (39.421.972) 464.015.425 General Losses 298.887.494 (996.143) 297.891.351 Land vehicles liability (MTPL) 55.178.373 (27.799) 55.150.574 General liabilities 46.904.303 (1.435.196) 45.469.107 Sea Vehicles 47.471.332 (3.920.139) 43.551.193 Marine 32.433.852 (1.682.640) 30.751.212 Land vehicles 26.528.601 275.821 26.804.422 Financial Losses 17.110.270 - 17.110.270 Casualty 9.494.351 (127.322) 9.367.029 Life 11.471.676 (3.304.640) 8.167.036 Health 2.448.227 - 2.448.227 Fidelity Guarantees 895.433 820 896.253 Financial losses 432.724 - 432.724 Air Vehicles 872 - 872 Credit 150 - 150 Legal protection (10.018) - (10.018) Total 1.052.685.037 (50.639.210) 1.002.045.827 December 31, 2019 Branches Gross total claims liability (*) Reinsurance share of total claims liability Net total claims liability Fire and natural disasters 515.769.646 (28.001.107) 487.768.539 General Losses 250.668.378 (819.163) 249.849.215 Land vehicles liability (MTPL) 47.830.299 (24.164) 47.806.135 General liabilities 40.743.871 (1.339.151) 39.404.720 Sea Vehicles 33.198.281 (3.479.788) 29.718.493 Marine 22.903.942 (2.345.008) 20.558.934 Land vehicles 30.864.346 (816.525) 30.047.821 Casualty 11.620.156 (348.799) 11.271.357 Life 6.307.867 (882.208) 5.425.659 Health 14.472.059 - 14.472.059 Fidelity Guarantees 559.095 (2.269) 556.826 Financial losses 11.159.910 - 11.159.910 Air Vehicles 414.714 - 414.714 Credit 168.772 - 168.772 Legal protection 557 - 557 Total 986.681.893 (38.058.182) 948.623.711 (*) Total claims liability includes outstanding claims reserve (paid). Financial Status Risks and Assessment of the Governing Body Unconsolidated Financial Statements Together with Independent Auditors’ Report Thereon Consolidated Financial Statements Together with Independent Auditors’ Report Thereon Milli Re Annual Report 2020 125