MILLIRE ENG2024

Branches 31 December 2023 Gross total claims liability (*) Reinsurance share of total claims liability Net total claims liability Land Vehicles Liabitily 5.597.822.676 (1.223.755.406) 4.374.067.270 Land Vehicles 4.772.190.694 (139.338.752) 4.632.851.942 Fire and Natural Disasters 19.573.944.219 (15.085.912.687) 4.488.031.532 General Losses 2.054.430.939 (435.285.517) 1.619.145.422 General Liability 537.566.079 (144.105.935) 393.460.144 Sea Vehicles 716.715.657 (304.462.538) 412.253.119 Accident 73.202.116 (12.914.952) 60.287.164 Marine 552.845.987 (251.180.796) 301.665.191 Life 9.400.117 (2.568.630) 6.831.487 Air Vehicles 94.457.008 (33.120.161) 61.336.847 Health 3.247.258.583 (163.036.111) 3.084.222.472 Breach of trust 6.971.309 2.609.488 9.580.797 Air Vehicles Liability 4.325.088 (2.266.349) 2.058.739 Legal Protection 288.181 - 288.181 Financial Losses 833.700.147 (604.115.092) 229.585.055 Credit 6.931.545 (151.268) 6.780.277 Total 38.082.050.345 (18.399.604.706) 19.682.445.639 (*) Total claims liability includes actual paid claims. Effects of the changes in assumptions used in the measurement of insurance assets and liabilities showing the effect of each change separately that has significant effect on financial statements In the current year, there are no material changes in the assumptions of measurement of insurance assets and liabilities. 4.2 Management of financial risk Introduction and overview This note presents information about the Group’s exposure to each of the below risks, the Group’s objectives, policies and processes for measuring and managing risk, and the Group’s management of capital. The Group has exposure to the following risks from its use of financial instruments: - credit risk - liquidity risk - market risk The Company may be exposed to Credit Risk (counterparty risk, counterparty concentration risk), Market Risk (currency and parity risk, interest rate risk, equity position risk, off-balance sheet risk, financial instrument concentration risk), and Liquidity Risk (liquidity risk related to funding, market, and concentration) depending on the level and nature of its assets at any given time. The Company’s exposure to each of the above risks is assessed according to “Application Principles in Respect of Risk Limits”. The Company monitors its receivables by obtaining comprehensive information about the debtors and debtors’ activities. The risk over investment portfolio is managed by measuring and reporting the market risk daily, reassessing the results validity and applying different scenario analyses. The Company’s exposure to each of the above risks is measured by Risk Management Service independently, reported to Board of Directors and units of Türkiye İş Bankası A.Ş. through the Risk Committee. 226 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) Notes to the Consolidated Financial Statements As of December 31, 2024 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) MİLLİ RE