MILLIRE ENG2024

10 Reinsurance assets and liabilities As of December 31, 2024, and 2023, outstanding reinsurance assets and liabilities of the Company, as Reinsurance Company in accordance with existing reinsurance contracts are as follows: Reinsurance assets December 31, 2024 December 31, 2023 Receivables from reinsurance companies (Note 12) 494.482.487 985.866.927 Cash deposited to reinsurance companies 269.851.682 294.520.563 Outstanding claims reserve, ceded (Note 4.2) , (Note 17) 1.729.970.615 5.807.404.091 Unearned premiums reserve, ceded (Note 17) 43.992.595 60.065.549 Total 2.538.297.379 7.147.857.130 There are no impairment losses recognized for reinsurance assets. Reinsurance liabilities December 31, 2024 December 31, 2023 Deferred commission income (Note 19) 4.303.316 8.565.638 Total 4.303.316 8.565.638 Gains and losses recognized in the statement of income in accordance with existing retrocession contracts are as follows: December 31, 2024 December 31, 2023 Premiums ceded during the period (Note 17) (5.467.356.778) (2.089.018.861) Unearned premiums reserve, ceded at the beginning of the period (Note 17 ) (60.065.549) (49.314.693) Unearned premiums reserve, ceded at the end of the period (Note 17) 43.992.595 60.065.549 Premiums earned, ceded (Note 17) (5.483.429.732) (2.078.268.005) Claims paid, ceded during the period (Note 17) 4.680.124.568 7.622.976.582 Outstanding claims reserve, ceded at the beginning of the period (Note 17 ) (5.807.404.091) (129.947.122) Outstanding claims reserve, ceded at the end of the period (Note 17) 1.729.970.615 5.807.404.091 Claims incurred, ceded (Note 17) 602.691.092 13.300.433.551 Commission income accrued from reinsurers during the period (Note 32) 162.461.722 25.349.513 Deferred commission income at the beginning of the period (Note 19) 8.565.638 9.482.897 Deferred commission income at the end of the period (Note 19) (4.303.316) (8.565.638) Commission income earned from reinsurers (Note 32) 166.724.044 26.266.772 Changes in unexpired risks reserve, reinsurers’ share (Note 17) (546.194) (109.628) Total, net (4.714.560.790) 11.248.322.690 147 2024 Annual Report Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) Notes to the Unconsolidated Financial Statements As of December 31, 2024 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) GENERAL INFORMATION FINANCIAL RIGHTS PROVIDEDTOTHE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RISKS AND ASSESSMENT OF THE GOVERNING BODY ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES RESEARCH & DEVELOPMENT ACTIVITIES FINANCIAL STATUS FINANCIAL INFORMATION