Milli Re 2025 Annual Report

16 Other reserves and equity component of discretionary participation As of December 31, 2025, and 2024, other reserves are explained in detail in Note 15 - Equity above. As of December 31, 2025, and 2024, 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, 2025, and 2024 technical reserves of the Group’ are as follows: December 31, 2025 December 31, 2024 Unearned premiums reserves, gross 57.467.222.255 42.115.799.388 Unearned premiums reserves, ceded (Note 10) (6.929.266.451) (6.186.511.289) Unearned premiums reserves, SSI share (796.713.111) (546.873.221) Unearned premiums reserves, net 49.741.242.693 35.382.414.878 Outstanding claims reserve, gross 56.296.854.750 40.588.786.606 Outstanding claims reserve, ceded (Note 10) (13.271.862.352) (11.481.005.210) Outstanding claims reserve, net 43.024.992.398 29.107.781.396 Unexpired risk reserves 1.946.360.489 1.954.371.200 Unexpired risk reserves, ceded (117.222.437) (196.764.827) Unexpired risk reserves, net 1.829.138.052 1.757.606.373 Equalization reserves, net 2.888.392.961 1.536.763.784 Other technical reserves, net 2.888.392.961 1.536.763.784 Total technical reserves, net et 97.483.766.104 67.784.566.431 Short Term 94.592.581.173 66.245.191.436 Long Term 2.891.184.931 1.539.374.995 Total technical reserves, net 97.483.766.104 67.784.566.431 293 Notes to the Consolidated Financial Statements As of December 31, 2025 Millî Reasürans Türk Anonim Şirketi 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)