MILLIRE ENG2024

2024 Technical Results In 2024, Milli Re’s premium income grew primarily due to the increase in policy rates and the revised earthquake tariff, as well as the impact of exchange rate fluctuations and rising inflation rate on sums insured in respect of our local portfolio. On the other hand, continued depreciation of the Turkish lira against foreign currencies and the ongoing effects of inflation negatively impacted claims costs. The adverse effects of the earthquake disaster that occurred on February 6, 2023, in Kahramanmaraş and surrounding districts also persisted throughout the year. To date, our Company has paid a total of approximately TL 12 billion in claims to insurance companies for earthquake-related losses, and as of the end of 2024, has set aside an additional TL 1 billion as outstanding loss reserves. Our technical operations, also influenced by exchange rate movements, resulted in a loss of TL 1,672 million. Technical Profitability (TL) Line of Business 2024 2023 2022 Accident 75,088,637 71,456,546 38,912,914 Health 766,133 1,637,990 (71,841) Land Vehicles 40,188,495 52,179,357 5,059,176 Railway Vehicles - - - Air Vehicles 17,811,806 (23,095,040) (3,549,376) Sea Vehicles (68,563,766) (21,679,227) (59,494,441) Marine 120,042,519 237,427,289 190,151,565 Fire & Natural Disasters (899,299,780) (525,711,613) 206,951,272 General Damages (938,598,786) 216,908,685 (156,759,270) Land Vehicles Liability (56,988,005) 32,486,859 1,713,313 Air Vehicles Liability - - - Sea Vehicles Liability 12,444 270,738 (535,632) General Liability 32,099,633 191,493,992 173,161,743 Credit 6,958,512 7,307,143 2,128,338 Fidelity Guarantee (4,670,465) (5,061,511) (18,232,592) Financial Losses (19,836,559) (51,223,858) (62,919,981) Legal Protection 483,687 939,087 1,011,608 Total Non-life (1,694,505,496) 185,336,437 317,526,796 Life 22,286,521 11,785,906 6,092,590 Total (1,672,218,975) 197,122,343 323,619,386 76 MİLLİ RE