Milli Re 2025 Annual Report

Global Reinsurance Market and Milli Re in 2025 another front, in line with its strategy to develop international activities, Milli Re also has been underwriting business from developed markets by providing reinsurance capacity to several leading global reinsurers and Lloyd’s syndicates. Thanks to the trust-based solid relationships established with business stakeholders owing to the Company’s long-lasting activities and high service quality, Milli Re booked approximately TL 2 billion in premium income in 2025 on its international portfolio. Although incurred losses in terms of foreign currency declined due to 2025 being a calm year in terms of damages and the tapering off of claims from prior underwriting years, the international operations portfolio ended 2025 with a loss of TL 51 million due to exchange rate fluctuations. International Portfolio 2025 Results In order to achieve portfolio diversification in line with its profit- oriented and sustainable growth target, Milli Re continues to leverage its operations in global markets. Giving priority to long-term business relationships erected on solid foundations and successfully navigating shifting market conditions, the Company sustains its support to its existing business partners within the scope of its international operations, and marches forward sure-footedly towards its target to increase portfolio diversity and profitability through new businesses fitting its risk appetite. A significant portion of the international portfolio is made up of business written from emerging markets that fall under the scope of FAIR Reinsurance Pool, which was managed by Milli Re from its establishment in 1974 until 1 January 2024; acceptances from the Far East via Milli Re Singapore Branch that started accepting business in 2008, and business from the Turkish Republic of Northern Cyprus. On Milli Re booked approximately TL 2 billion in premium income in 2025 on its international portfolio. 76 MİLLİ RE 2025 Annual Report