MILLIRE ENG2024

16 Other reserves and equity component of discretionary participation As of December 31, 2024, and 2023, other reserves are explained in detail in Note 15 - Equity above. As of December 31, 2024, and 2023, the Group does not hold any insurance or investment contracts which contain a DPF. 17 Insurance contract liabilities and reinsurance assets Estimation of the ultimate payment for the outstanding claims is one of the most important accounting assumptions of the Company. Estimation of the insurance contract liabilities contains several ambiguities by nature. The Company makes calculation of the related insurance technical provisions accordance with the Insurance Legislation and reflects them into consolidated financial statements as mentioned in Note 2 - Summary of significant accounting policies. As of December 31, 2024, and 2023 technical reserves of the Group’ are as follows: 31 December 2024 31 December 2023 Unearned premiums reserves, gross 42.115.799.388 28.701.633.588 Unearned premiums reserves, ceded (Note 10) (6.186.511.289) (4.797.310.036) Unearned premiums reserves, SSI share (546.873.221) (343.265.174) Unearned premiums reserves, net 35.382.414.878 23.561.058.378 Outstanding claims reserve, gross 40.588.786.607 37.463.982.203 Outstanding claims reserve, ceded (Note 10) (11.481.005.211) (16.122.814.162) Outstanding claims reserve, net 29.107.781.396 21.341.168.041 Unexpired risk reserves 1.954.371.200 2.275.520.482 Unexpired risk reserves, ceded (196.764.827) (513.212.022) Unexpired risk reserves, net 1.757.606.373 1.762.308.460 Equalization reserves, net 1.536.763.784 863.671.776 Other technical reserves, net 1.536.763.784 863.671.776 Total technical reserves, net et 67.784.566.431 47.528.206.655 Short Term 66.245.191.436 46.660.903.986 Long Term 1.539.374.995 867.302.669 Total technical reserves, net 67.784.566.431 47.528.206.655 249 2024 Annual Report 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) 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