Milli Re 2025 Annual Report

I- TECHNICAL SECTION Note Audited Current Period December 31, 2025 Audited Prior Period December 31, 2024 A- Non-Life Technical Income 16.998.833.457 11.497.241.293 1- Earned Premiums (Net of Reinsurer Share) 11.453.478.926 8.239.765.540 1.1- Written Premiums (Net of Reinsurer Share) 17, 24 12.319.349.899 9.180.045.688 1.1.1- Gross Written Premiums (+) 17, 24 15.995.229.957 14.627.584.831 1.1.2- Ceded Premiums to Reinsurers (-) 10,17,24 (3.675.880.058) (5.447.539.143) 1.1.3- Ceded Premiums to SSI (-) - - 1.2- Change in Unearned Premiums Reserve (Net of Reinsurers Shares and Reserves Carried Forward) (+/-) 17,29 (852.017.170) (952.193.404) 1.2.1- Unearned Premiums Reserve (-) 17 (837.690.167) (935.055.962) 1.2.2-Reinsurance Share of Unearned Premiums Reserve (+) 10,17 (14.327.003) (17.137.442) 1.2.3-SSI of Unearned Premiums Reserve (+) - - 1.3- Changes in Unexpired Risks Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 29 (13.853.803) 11.913.256 1.3.1- Unexpired Risks Reserve (-) (13.759.865) 12.459.450 1.3.2-Reinsurance Share of Unexpired Risks Reserve (+) (93.938) (546.194) 2- Investment Income Transferred from Non-Technical Part 4.039.858.325 2.371.156.247 3-Other Technical Income (Net of Reinsurer Share) 47 1.505.496.206 886.319.506 3.1- Gross Other Technical Income (+) 959.941.359 609.069.662 3.2- Reinsurance Share of Other Technical Income (-) 545.554.847 277.249.844 4-Accrued Subrogation and Salvage Income (+) - - B- Non-Life Technical Expense (-) (16.739.881.545) (13.191.746.789) 1- Total Claims (Net of Reinsurer Share) (10.483.181.659) (8.801.451.061) 1.1- Claims Paid (Net of Reinsurer Share) 17,29 (6.483.106.418) (5.224.109.420) 1.1.1- Gross Claims Paid (-) 17 (7.675.518.386) (9.900.711.467) 1.1.2- Reinsurance Share of Claims Paid (+) 10,17 1.192.411.968 4.676.602.047 1.2- Changes in Outstanding Claims Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 17,29 (4.000.075.241) (3.577.341.641) 1.2.1- Outstanding Claims Reserve (-) 17 (3.596.805.306) 502.650.279 1.2.2-Reinsurance Share of Outstanding Claims Reserve (+) 10,17 (403.269.935) (4.079.991.920) 2- Changes in Bonus and Discount Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) - - 2.1- Bonus and Discount Reserve (-) - - 2.2- Reinsurance Share of Bonus and Discount Reserve (+) - - 3- Changes in Other Technical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 29 (471.931.849) (203.561.276) 4-Operating Expenses (-) 32 (5.784.768.037) (4.186.734.452) 117 Millî Reasürans Türk Anonim Şirketi The accompanying notes are an integral part of these unconsolidated financial statements. GENERAL INFORMATION FINANCIAL RIGHTS PROVIDED TO THE 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 (Currency: Turkish Lira (TRY)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) Unconsolidated Statement of Income For the Year Ended December 31, 2025