Turkiye Sigorta A.s. · BIST:TURSG
Turkiye Sigorta A.s — H1 2025 Earnings Presentation
26 slides from Turkiye Sigorta A.s's earnings presentation, Jul 21, 2025
Slide 1: Earnings Presentation 1H25 Results
Earnings Presentation 1H25 Results 21 July 2025 Investor Relations, Türkiye Sigorta 1
Slide 2: Disclaimer
Disclaimer This presentation is prepared by Türkiye Sigorta A.Ş., based on general ideas and it is subject to change without notice. It is based on information obtained from sources that the Company believes to be reliable, but the Company does not guarantee the authenticity and completeness of info
Slide 3: Agenda
1 Key Takeaways 2 Key Operational and Financial Metrics 3 Premium Production 4 Financial Results 5 Appendix 3
Slide 4: Key Takeaways
Key Takeaways 1 Above consensus premiums and net income Real and robust year-on-year profit growth 2 1 • Net income 2Q25: ₺4.8 bn with a 58% yoy increase • Premium: ₺31.3 bn (consensus: ₺29 bn) • Net Income: ₺4.8 bn (consensus: ₺4.3 bn) • Technical income 2Q25: ₺7.1 bn with a 110% yoy increase • Com
Slide 5: Key Operational and Financial Metrics
1 Key Takeaways 2 Key Operational and Financial Metrics 3 Premium Production 4 Financial Results 5 Appendix 5
Slide 6: Key Operational and Financial Metrics
Key Operational and Financial Metrics 2 Real & Healthy Growth Real & Strong Profitability Robust Investment Results Premiums Net Income AuM³ ₺73bn ₺9.3bn ₺70bn Market Share¹ Sector Ranking #1 Combined Ratio ROAE² AuM Growth AuM Yield 14% 97.5% 58% 56% 42% #1 General Loss #1 F&ND #1 Accident #2 MOD #
Slide 7: Key Metrics in a Nutshell
Key Metrics in a Nutshell 2 GWP Production (₺ mn) Real Production Net Income (₺ mn) Real Growth Combined Ratio (%) Below <100% 96.7 97.5 +42% +44% 9,334 72,679 +58% 50,411 6,569 +41% 4,811 31,277 3,042 22,248 2Q24 2Q25 1H24 1H25 2Q24 2Q25 1H24 1H25 1H24 1H25 Technical Profit (₺ mn) Financial
Slide 8: Premium Production
1 Key Takeaways 2 Key Operational and Financial Metrics 3 Premium Production 4 Financial Results 5 Appendix 8
Slide 9: Market Positioning
Market Positioning¹ 3 Non-life Penetration Rate: 2.2% (as of 1Q25) #1: Türkiye Sigorta There are 68 firms in insurance market : 45 non-life, 19 life/pension, and 4 reinsurance² Top 5: 47% of sector Premiums in non-life insurance sector: ₺420 bn ($10.6 bn) Top 10: 68% of sector 420 . Health Non-motor
Slide 10: Positioning in Premium Segments
Positioning in Premium Segments 3 as of 06.2024 as of 06.2025 as of 05.2025¹ ΔYoY Main Segments GWP Share in GWP Share in Sector Market Strong sales performance across all (₺ bn) total (₺ bn) total Ranking Share product lines. TOTAL 50.4 100% 72.7 100% 44% 14% General Losses 15.3 30% 21.9 30% 43%
Slide 11: Unique Sales Channel
Unique Sales Channel 3 Sector 10% 57% 13% 20% 1H24 TS 21% 25% 44% 9% This diversified and scalable distribution structure enables us to Sector 8% 60% 13% 19% efficiently reach individual, SME, 2024 TS 16% 27% 45% 12% commercial, and corporate clients as well as major projects, offering long-term res
Slide 12: Financial Results
1 Key Takeaways 2 Key Operational and Financial Metrics 3 Premium Production 4 Financial Results 5 Appendix 12
Slide 13: Net Income: Record profit levels
Net Income: Record profit levels 4 Recorded a new net income high; continued uninterrupted real premium growth trend. Net Income Capital Adequacy Ratio (CAR) ₺ mn Min. CAR for Dividend Distribution: 135% Min. CAR for Legal Requirements: 115% Net Income 194% Growth 181% 185% 1H24 vs 1H25: 147% 42% 13
Slide 14: P&L Distribution: Resilience
P&L Distribution: Resilience 4 1H24 (₺ mn) Net Income: Real growth despite agricultural frost. Underwriting: Best estimation method is successfully applied. AuM: Well-managed portfolio driven by timely and 1H25 (₺ mn) appropriate strategic actions. Δyoy 41% 61% -7% 56% 64% 64% NA 42% 14
Slide 15: Technical Profit: Continuous excellence in operational management
Technical Profit: Continuous excellence in operational management 4 Main segments ₺ mn Positive: Significant growth and return on investment in Health segment. Challenge: Agricultural frost in March - April 2025 and ongoing claims in MTPL segment. Non-motor Motor Health Underwriting resilience
Slide 16: Underwriting Breakdown: Combined ratio <100%
Underwriting Breakdown: Combined ratio <100% 4 Operational Efficiency: Underwriting policies are balancing caution and profitability 1H24 NON-MOTOR HEALTH MOTOR 1H25 General Losses F&ND Accident MTPL MOD 144 136 114 95 90 75 74 49 62 58 Loss 12 11 1 0 Ratio (%) 16 20 40 40 12 12 9 8 9 9 14 15 Comiss
Slide 17: MTPL & Health Combined Ratio Track Record
MTPL & Health Combined Ratio Track Record 4 MTPL Combined & Loss Ratio Health Combined & Loss Ratio 260% 100% 200% 193% 100% 242% 90% 180% 90% 210% 80% 160% 80% 181% 72% 143% 72% 64% 218% 174% 70% 140% 64% 65% 70% 153% 152% 120% 64% 109% 60% 160% 64% 60% 110% 107% 65% 161% 156% 163% 144% 50% 100% 10
Slide 18: AuM: Uplifting scale
AuM: Uplifting scale 4 We optimized returns while managing risks through real-time portfolio adjustments Investment Income AuM Breakdown (₺ mn) (cumulative) 6,932 1% 2% 2% 5,927 Investment 5% 5% 3% Portfolio size exluding 5,178 Income Growth 4,477 FX - Bank Deposits arbitrage yoy increased by 4,10
Slide 19: Appendix
1 Key Takeaways 2 Key Operational and Financial Metrics 3 Premium Production 4 Financial Results 5 Appendix 19
Slide 20: Income Statement
Income Statement 5 Income Statement (₺ mn) 2023 2024 1H24 1H25 YoY Gross Written Premiums 59,518 101,366 50,411 72,679 44% - Premiums Transferred to the Reinsurer -24,573 -52,177 -28,767 -38,616 34% - Other -1,145 -1,019 -432 -470 9% - Unearned Premiums Provision -12,944 -6,319 -1,752 -6,200 254% -
Slide 21: Balance Sheet & Key Ratios
Balance Sheet & Key Ratios 5 Summary Balance Sheet (₺ mn) 2023 2024 6M24 6M25 YoY Cash and Cash Equivalents 31,547 25,228 21,576 17,159 -20% Banks 27,744 20,602 17,938 12,418 -31% Financial Assets 21,924 34,327 32,559 67,639 108% Receivables from Main Operations 11,330 19,005 20,192 32,433 61% Tangi
Slide 22: Quarterly and Cumulative GWP Production
Appendix 5 Quarterly GWP Production (₺ mn) Cumulative GWP Production (₺ mn) Premium Production 2Q24 3Q24 4Q24 1Q25 2Q25 QoQ YoY 1H24 9M24 2024 1Q25 1H25 YoY General Losses 7,046 3,660 8,833 12,572 9,348 -26% 33% 15,322 18,982 27,815 12,572 21,921 43% F&ND 6,351 6,149 5,721 10,259 8,017 -22% 26% 13,6
Slide 23: Quarterly and Cumulative Technical Profit
Appendix 5 Quarterly Technical Profit (₺ mn) Cumulative Technical Profit (₺ mn) Technical Profit 2Q24 3Q24 4Q24 1Q25 2Q25 QoQ YoY 1H24 9M24 2024 1Q25 1H25 YoY General Losses 925 387 611 711 122 -83% -87% 1,649 2,036 2,647 711 833 -49% F&ND 2,160 2,385 2,335 1,713 2,991 75% 39% 3,601 5,985 8,321 1,71
Slide 24: Loss, Expense, Commission and Combined Ratios
Appendix 5 Loss Ratio Expense Ratio Commission Ratio Combined Ratio (Cumulative) (Cumulative) (Cumulative) (Cumulative) Segments 1H24 2024 1H25 1H24 2024 1H25 1H24 2024 1H25 1H24 2024 1H25 General Losses 49.1% 55.4% 114.3% 11.4% 15.6% 13.1% -19.6% -27.8% -15.3% 40.9% 43.1% 112.1% Non-motor F&ND 12.2
Slide 25: For the most recent earnings reports and notes: Investor Kit
For the most recent earnings reports and notes: Investor Kit For further information: investor.relations@turkiyesigorta.com.tr Name Responsibility E-mail Phone Şahika Balbay Demiroğlu Director sahika.demiroglu@turkiyesigorta.com.tr +90 (212) 800 86 89 Recep Şahin Manager recep.sahin@turkiyesigorta.c
Slide 26: Sizin
Sizin Kiymetinizi billiyoruz Karena sizi oldugunuz gibi Rg | Gp 2bullenmek Tipki bir Biz Sigortacilgin Mil Takimryz. yenilikei ve diisiincelerinizin eames akis acimuzia siirekli Uvenl, Bim Snegrve tp e deger oldugunu size inti duyulan he land: as} ig! oo ee ay ruhu siirdirriileb ile caligirz. \siyan