Milli Re 2025 Annual Report

Türk Sigorta Enstitüsü Vakfı (TSEV) The Turkish Insurance Institute Foundation (TSEV) was established jointly by Milli Re and the Insurance Association of Türkiye in 1970 and continues its training and consulting services for the insurance industry for the last 55 year. TSEV organizes training programs on insurance techniques and law as well as administrative issues for the insurance sector and for various companies, institutions and organizations. The Foundation carries out initiatives for raising increased awareness of insurance in our country, in addition to its training activities. Having renewed all its business processes after the pandemic, TSEV’s training activities have been restructured in online and face-to- face formats. Long-term training programs included online and mixed groups, providing the participants with the opportunity to sit the exams physically or online. While the majority of short-term training programs are carried out online, a limited number of face-to-face training programs have also been planned. Organized since the establishment of TSEV and representing one of the most comprehensive insurance training programs available, the Basic Insurance Training Program had approximately 3,000 graduates to date. A follow-up course to this training, Advanced Level Insurance Training Programs stand out as the one and only project and practice- oriented training program in the industry. In addition, TSEV regularly schedules Short-Term Training Programs determined according to current needs, Introduction to Insurance for Beginners Program held for new recruits in the insurance sector and in the insurance departments of insured corporate structures, and Training Programs for Actuary Exams. “Workshops”, which started to be organized in 2022, were held face-to-face in the form of branch- based, one-day programs, in which participants role played and progressed through case studies. Under the Broker Academy: Insurance Training Program co-conducted by the Insurance and Reinsurance Brokers Association and TSEV, second semester training was provided to the third group and the first semester training to the fourth group. “Just the Right Time to be an Insurance Professional” program was designed and implemented in cooperation with Axa Sigorta, which is intended to familiarize university students with the insurance industry. Seminars on specific topics addressing the needs of the insurance sector were held; TSEV offered Personal Development and Skills Training in addition to insurance training. The diversity of programs in this segment continues to increase by the year. The migration of training activities to online platforms gave numerous participants living outside of İstanbul the possibility to access TSEV training. During 2025, TSEV offered 3,058 hours of training in total to 3,844 individuals within the scope of these programs. In addition, Advisory, Closed Group Classroom Training and Placement Exams were also carried out in line with companies’ requests. Initiated under the agreements signed with the Central Bank of Azerbaijan and the Azerbaijan Insurance Association in 2020, actuary exams were conducted by TSEV also in 2025. In addition, a custom-designed training program for 13 senior-level company managers of Uzbekinvest Insurance Company was held face-to- face in İstanbul. 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 53