MILLI RE 2023 ANNUAL REPORT

Financial Analysis Rations (%) 2023 2022 2021 1. Capital Adequacy Ratios Gross Premiums/Shareholders’ Equity 131 119 88 Shareholders’ Equity/Total Assets 33 32 39 Shareholders’ Equity/Net Technical Provisions 68 60 74 2. Asset Quality and Liquidity Ratios Liquid Assets/Total Assets 28 44 54 Liquidity Ratio 90 131 157 Current Ratio 87 101 119 Premium and Reinsurance Receivables/Total Assets 18 8 9 3. Operational Ratios Retention Ratio 79 85 87 Paid Claims/Paid Claims+Outstanding Claims 51 37 37 4. Profitability Ratios Gross Loss Ratio 275 114 95 Expense Ratio 21 21 25 Combined Ratio 296 135 120 Net Loss Ratio 129 135 108 Expense Ratio 26 25 28 Combined Ratio 155 160 136 Profit Before Tax/Gross Written Premiums 37 18 27 Gross Financial Profit/ Gross Written Premiums 35 12 18 Technical Profit/Gross Written Premiums 2 6 9 Profit Before Tax/Average Total Assets 16 7 9 Profit Before Tax/Average Shareholders’ Equity (Excluding Profit) 68 27 29 Key Figures 2023 2022 2021 2020 2019 Gross Premiums 9,924,594,569 4,808,430,037 2,482,605,065 1,820,275,306 1,658,819,927 Technical Division Balance 197,122,343 323,619,386 221,154,114 62,475,722 85,063,787 Investment Income 7,817,832,550 3,067,317,755 1,353,558,990 685,087,147 661,184,678 Investment Expenses (3,661,647,130) (2,251,785,865) (865,902,058) (368,475,610) (403,360,732) Other Income and Expenses (724,299,710) (250,531,510) (30,947,807) (1,457,582) 6,850,022 Gross Profit/Loss for the Period 3,629,008,053 888,619,766 677,863,239 377,629,677 349,737,755 Taxation 0 0 (128,897,591) (29,030,769) (37,227,141) Profit/Loss for the Period 3,629,008,053 888,619,766 548,965,648 348,598,908 312,510,614 Shareholders’ Equity 10,128,117,780 5,055,935,662 3,000,422,620 2,638,633,525 2,135,840,889 Total Assets 22,668,143,370 12,400,448,277 7,183,128,434 5,506,298,142 4,531,965,239 69 GENERAL INFORMATION FINANCIAL RIGHTS PROVIDEDTOTHE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES RESEARCH & DEVELOPMENT ACTIVITIES FINANCIAL STATUS FINANCIAL INFORMATION 2023 Annual Report RISKS AND ASSESSMENT OF THE GOVERNING BODY