MILLIRE ENG2024

We successfully continue the “International Insurance Tennis Tournament”, a unique event in the world that we have been organizing for 36 years, attracting dozens of players and hundreds of spectators from both Türkiye and abroad. Our Company, which holds the “Equal Opportunity Model” (FEM) certification awarded by the Women Entrepreneurs Association of Türkiye (KAGİDER) with its policies designed to support our women employees and our practices regarding gender equality, continues to stand out and attract attention not only in the sector but also in our country with its high proportion of women in middle and senior management. For a more secure future... The insurance industry is distinguishing its role as one of the key sectors that play a critical role in managing emerging risks shaped by rapidly changing economic, environmental, and technological dynamics across the world. The growing frequency and severity of natural disasters, driven by global climate change, which is considered one of the most significant long-term risks facing the insurance industry, keep adding to the burden of the sector. With the acceleration of digitalization, cyber risks have become more prominent with their complexity and rapidly changing nature, while data breaches and AI-driven threats are resulting in next-generation security needs. Rising geopolitical tensions, particularly the disruption of trade, are impacting the sector, and the increasingly evident threat of state-based armed conflicts is expanding the reach of insurance coverage. Meanwhile, adverse developments in the economic environment may challenge insurance companies, particularly those with long-term commitments, in protecting investment returns and providing assurance to customers. All these factors are reshaping the dynamics of the industry while altering their risk profiles. Regarding our country’s insurance industry, we recognize the need to focus more closely not only on earthquake risk, which remains a primary concern, but also on climate- related risks such as the increasing frequency of extreme weather events. Negative experiences such as earthquakes, natural disasters, and fires have highlighted the critical importance of risk analysis and risk-based underwriting, while also indicating a dimension in the sector that requires further development. With this perspective, we support the establishment of a strong roadmap for the sector, focusing on innovation and sustainability. As one of the leading players providing strong and stable reinsurance capacity to the market, Milli Re continues to fulfill its responsibilities for the future of the sector with a strong sense of duty and unwavering commitment. Our Company has maintained its leadership position in the local market in line with its sustainable growth targets with its strong capital, know-how, experienced staff, and profit- oriented risk management for 95 years, while also successfully pursuing its operations in international markets. On our journey marked by many firsts in the insurance industry, we remain committed to progressing with the principle of preserving our competitive edge, establishing new collaborations while maintaining long-standing and trust-based relationships with our stakeholders, and investing in the future of our country by supporting the sector under all circumstances. I would like to extend my appreciation to all our shareholders, business partners, and employees for their contributions to our consistent performance and for their confidence in our Company. With regards, Fikret Utku ÖZDEMİR Director and General Manager Our Company has maintained its leadership position in the local market in line with its sustainable growth targets with its strong capital, know-how, experienced staff, and profit-oriented risk management for 95 years, while also successfully pursuing its operations in international markets. 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 17 2024 Annual Report