MILLIRE ENG2024

PAGE CONSOLIDATED BALANCE SHEET 180 CONSOLIDATED STATEMENT OF INCOME 185 CONSOLIDATED STATEMENT OF CASH FLOWS 189 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 190 CONSOLIDATED STATEMENT OF PROFIT DISTRIBUTION 192 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 193-263 NOTE 1 General information 193 NOTE 2 Summary of significant accounting policies 195 NOTE 3 Important accounting estimates and provisions 223 NOTE 4 Management of insurance and financial risk 224 NOTE 5 Segment information 235 NOTE 6 Tangible assets 235 NOTE 7 Investment properties 237 NOTE 8 Intangible Assets 237 NOTE 9 Investments in associates 238 NOTE 10 Reinsurance assets and liabilities 239 NOTE 11 Financial assets 240 NOTE 12 Loans and receivables 243 NOTE 13 Derivative financial assets 245 NOTE 14 Cash and cash equivalents 245 NOTE 15 Equity 246 NOTE 16 Other reserves and equity component of discretionary participation 249 NOTE 17 Insurance contract liabilities and reinsurance assets 249 NOTE 18 Investment contract liabilities 253 NOTE 19 Trade and other payables and deferred income 254 NOTE 20 Financial liabilities 254 NOTE 21 Deferred taxes 255 NOTE 22 Retirement benefit obligations 255 NOTE 23 Provision for other liabilities and expense accruals 257 NOTE 24 Net insurance premium revenue 258 NOTE 25 Fee revenue 258 NOTE 26 Investment income 258 NOTE 27 Net income accrual on financial asset 258 NOTE 28 Assets held at fair value through profit or loss 258 NOTE 29 Insurance rights and claims 258 NOTE 30 Investment contract benefits 258 NOTE 31 Other expenses 258 NOTE 32 Operating expenses 258 NOTE 33 Employee benefit expenses 259 NOTE 34 Financial costs 259 NOTE 35 Income tax 259 NOTE 36 Net foreign exchange gains 260 NOTE 37 Earnings per share 260 NOTE 38 Dividends per share 260 NOTE 39 Cash generated from operations 260 NOTE 40 Convertible bond 260 NOTE 41 Redeemable preference shares 260 NOTE 42 Risks 260 NOTE 43 Commitments 261 NOTE 44 Business combinations 261 NOTE 45 Related party transactions 261 NOTE 46 Subsequent events 262 NOTE 47 Other 263 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 179 2024 Annual Report Contents