Turkiye Sigorta A.s. · BIST:TURSG
Turkiye Sigorta A.s — Q1 2026 Earnings Presentation
29 slides from Turkiye Sigorta A.s's earnings presentation, Apr 20, 2026
Slide 1: Earnings Presentation 1Q26 Results
Earnings Presentation 1Q26 Results 20 April 2026 Investor Relations, Türkiye Sigorta
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. 1Q26 Key Takeaways 2. 1Q26 Performance Overview 3. Premium Production 4. Financial Results 5. Appendix
Slide 4: 1Q26 Key Takeaways: Record Profitability with a 9-Point Combined Ratio Improvement
1Q26 Key Takeaways: Record Profitability with a 9-Point Combined Ratio Improvement 1 Resilient & Scalable Growth: Real growth and profitability in both TL and USD terms 1Q26 net income TL6.4 bn (+42% yoy) beat consensus by 8% Combined ratio 90% beat consensus by 500 bps 1. Record Profitability, Mean
Slide 5: Delivering Profitable Growth & Digital Leadership
Delivering Profitable Growth & Digital Leadership 1 Strong Profitability & Technical Excellence 1 • Record quarterly net income driven by strong contribution from General Losses, Motor and Fire & Natural Disasters segments • Sustainable technical profitability supported by prudent reserving, effecti
Slide 6: 1Q26 Performance Overview
1. 1Q26 Key Takeaways 2. 1Q26 Performance Overview 3. Premium Production 4. Financial Results 5. Appendix
Slide 7: Key Operational and Financial Metrics – 1Q26 (TL Based)
Key Operational and Financial Metrics – 1Q26 (TL Based) 2 OPERATIONAL OPERATIONAL PERFORMANCE FINANCIAL STRENGTH & GROWTH STRONG MOMENTUM IN CAPITAL PERFORMANCE Premium Production up 30% Net Income up 42% Equity up 71% yoy yoy yoy TL53.8 bn TL6.4 bn TL57 bn Technical Income* up 244% AuM Size** up 33
Slide 8: Key Operational and Financial Metrics – 1Q26 (USD Based)
Key Operational and Financial Metrics – 1Q26 (USD Based) 2 OPERATIONAL OPERATIONAL PERFORMANCE FINANCIAL STRENGTH & GROWTH STRONG MOMENTUM IN CAPITAL PERFORMANCE Premium Production up 8% Net Income up 18% Equity up 42% yoy yoy yoy USD1.2 bn USD148 mn USD1.3 bn Technical Income* up 185% AuM Size** up
Slide 9: Key Metrics in a Nutshell
Key Metrics in a Nutshell 2 GWP Production (TL mn) Real Growth Net Income (TL mn) Robust Combined Ratio (%) Sustained <100% +30% +42% 99 100% 90 53,806 6,430 41,402 4,523 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 Technical Income (TL mn) Cost Efficient AuM & Yield (TL mn, %) Tracking Inflation ROAE (%
Slide 10: Technical Resilience & Combined Ratio
Technical Resilience & Combined Ratio 2 Combined Ratio (%) Total Technical Income (TL mn) Key Results +30% 99% 100% 6,891 • In 1Q25, the combined ratio was elevated due to a once-in-a- 11% 90% 1,990 decade frost event in the general 12% 12% 5,321 +244% losses segment, which has a 578 significant sha
Slide 11: Premium Production
1. 1Q26 Key Takeaways 2. 1Q26 Performance Overview 3. Premium Production 4. Financial Results 5. Appendix
Slide 12: 16% Market Share, TL11 Bn Lead Over The #2 Player (1Q26)
16% Market Share, TL11 Bn Lead Over The #2 Player (1Q26) 3 Insurance Companies: 68 Türkiye Sigorta #1 in sector • 45 Non-life Sector Premium Production: • TL340 bn • Top 5: 51% of sector • 19 life/pension • USD7.7 bn • Top 10: 69% of sector • 4 reinsurance Market Share & Portfolio Breakdown as of 1Q
Slide 13: Market Leadership with Margin-Accretive Growth
Market Leadership with Margin-Accretive Growth 3 Türkiye Sigorta Türkiye Sigorta Sector 1Q25 1Q26 1Q26 1Q26 GWP Share in GWP Share in yoy Sector Market GWP Share in yoy Main Segments (TL bn) total (TL bn) total change Ranking Share (TL bn) total change TOTAL 41.4 100% 53.8 100% 30% 16% 340.0 100% 28
Slide 14: Financial Results
1. 1Q26 Key Takeaways 2. 1Q26 Performance Overview 3. Premium Production 4. Financial Results 5. Appendix
Slide 15: All-Time High Net Income, Solid Capital Adequacy, Comfortably Above 135% Threshold
All-Time High Net Income, Solid Capital Adequacy, Comfortably Above 135% Threshold 4 Recorded a new net income high, with real premium growth continuing without interruption Net Income Capital Adequacy Ratio (CAR) TL mn +42% Min. CAR for Dividend Distribution: 135% Min. CAR for Legal Requirements: 1
Slide 16: Earnings Mix: Resilience by Design
Earnings Mix: Resilience by Design 4 13,011 1Q25 (TL mn) • In 1Q26 insurance inflation was 17% while gross 5,927 premium production grew 30% on an annual 4,523 basis -7,392 -1,118 -367 -2,502 • Strong technical results supported profitability, -3,036 with a 42% yoy increase in net income • Reduction
Slide 17: Technical Income: +30% yoy
Technical Income: +30% yoy 4 Main segments TL mn 261 • General Losses: TL2.3 bn (+224% yoy) 794 379 29 1Q25 frost-event provisions normalized; 1,593 6,891 -58 -1,427 base effect accounts for the majority of 5,321 the yoy swing in total technical income • MTPL: Loss narrowed to TL816 mn from TL1.6 bn
Slide 18: Underwriting: Combined Ratio Below 100% for 9th Consecutive Quarter
Underwriting: Combined Ratio Below 100% for 9th Consecutive Quarter, Sector Average 111%* 4 1Q25 NON-MOTOR HEALTH MOTOR 1Q26 General Losses F&ND Accident MTPL MOD 149 Loss Ratio 96 92 97 107 76 67 57 62 (%) 42 17 12 0.1 0.7 Commission Ratio (%) 21 22 39 43 12 11 8 7 8 9 15 12 -19 -3 Expense Ratio (%
Slide 19: AuM and Investment Overview
AuM and Investment Overview 4 Rotated FX bank deposits into TL government securities Investment Income (TL mn) AuM Breakdown* • CBRT policy rate declined from 2% 1% 2% 3% 4% 45% to 37%, while CPI 5% 26,676 6% 7% moderated from 38% to 31% 17,487 between 1Q25 and 1Q26 18% +5% 26% 15% 9,705 5,927 6,222
Slide 20: Appendix
1. 1Q26 Key Takeaways 2. 1Q26 Performance Overview 3. Premium Production 4. Financial Results 5. Appendix
Slide 21: Income Statement
Income Statement 5 Income Statement (TL mn) 2023 2024 2025 1Q25 1Q26 yoy Non-life Technical Income 29,850 59,460 81,116 18,297 23,528 29% Earned Premiums 20,258 42,317 59,892 13,011 18,340 41% Written Premiums (Net of Reinsurer Share) 33,801 48,170 73,470 19,064 22,649 19% Written Premiums (Gross) 5
Slide 22: Balance Sheet & Key Ratios
Balance Sheet & Key Ratios 5 Summary Balance Sheet (TL mn) 2023 2024 2025 1Q25 1Q26 yoy Cash and Cash Equivalents 31,547 25,228 11,163 27,886 13,591 -51% Banks 27,744 20,602 5,420 23,434 7,450 -68% Financial Assets 21,924 34,327 86,507 43,313 92,469 113% Receivables from Main Operations 11,330 19,00
Slide 23: Appendix: Quarterly and Cumulative GWP Production
Appendix 5 Quarterly GWP Production (TL mn) Cumulative GWP Production (TL mn) Premium Production 1Q25 2Q25 3Q25 4Q25 1Q26 qoq 3M25 6M25 9M25 2025 3M26 yoy General Losses 12,572 9,348 7,036 14,189 21,132 49% 12,572 21,921 28,957 43,146 21,132 68% F&ND 10,259 8,017 7,781 8,057 12,369 54% 10,259 18,276
Slide 24: Appendix: Quarterly and Cumulative Technical Income
Appendix 5 Quarterly Technical Income (TL mn) Cumulative Technical Income (TL mn) Technical Income 1Q25 2Q25 3Q25 4Q25 1Q26 qoq 3M25 6M25 9M25 2025 3M26 yoy General Losses 711 122 107 169 2,304 1265% 711 833 939 1,108 2,304 224% F&ND 1,713 2,991 2,832 2,357 2,092 -11% 1,713 4,705 7,537 9,893 2,092 2
Slide 25: Appendix: Loss, Expense, Commission and Combined Ratios
Appendix 5 Loss Ratio Expense Ratio Commission Ratio Combined Ratio (Cumulative) (Cumulative) (Cumulative) (Cumulative) Segments 3M25 2025 3M26 3M25 2025 3M26 3M25 2025 3M26 3M25 2025 3M26 General Losses 96.2% 95.3% 41.6% 14.6% 17.5% 10.6% -19.2% -17.8% -3.3% 91.6% 94.9% 48.9% Non-motor F&ND 11.8% 1
Slide 26: Key Operational Metrics
Key Operational Metrics 5 Employees Mobile App Bank Agencies Users Branches 1,500+ 4.6M+ 3,800+ 4,900+ Individual Contracted PTT Branches Customers Providers BIST 50 5.6M+ 3,500+ 5,800+ Inclusion Corporate JCR Credit Governance Rating Rating 9.66/10 AAA+ 26
Slide 27: Differentiated Multi-Channel Distribution Platform
Differentiated Multi-Channel Distribution Platform 5 Sector Broker& 9% 12% 14% 13% 10% Broker& Other 19% 19% Other 19% 19% 21% General Losses, Fire & Natural Bank 14% 13% 13% 13% 14% Bank 46% Disasters and Motor Own Damage 45% 44% 45% 49% (MOD) segments saw an increased share of production through
Slide 28: Investor Kit and Investor Relations Contacts
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.co
Slide 29: 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