ASSETS | |||
I- CURRENT ASSETS | Notes | Reviewed Current Period | Audited Previous Period |
30 June 2026 | 31 December 2025 | ||
A- Cash and Cash Equivalents | 2.12, 14 | 14.979.578.048 | 9.218.323.260 |
1- Cash | - | - | |
2- Cheques Received | - | - | |
3- Banks | 2.12, 14 | 10.814.035.319 | 5.353.722.698 |
4- Cheques Given and Payment Orders (-) | - | - | |
5- Bank Guaranteed Credit Card Receivables with Maturities Less Than Three Months | 2.12, 14 | 4.165.542.729 | 3.864.600.562 |
6- Other Cash and Cash Equivalents | - | - | |
B- Financial Assets and Investments with Risks on Policyholders | 4,11.4 | 52.721.311.258 | 47.636.937.773 |
1- Financial Assets Available for Sale | 4, 11.4 | 3.952.139.580 | 3.879.371.873 |
2- Financial Assets Held to Maturity | 4, 11.4 | 1.887.565.144 | 1.816.492.078 |
3- Financial Assets Held for Trading | 4, 11.4 | 3.806.444.349 | 5.787.760.784 |
4- Loans | - | - | |
5- Provision for Loans (-) | - | - | |
6- Investments with Risks on Policyholders | 4, 11.4 | 43.075.162.185 | 36.153.313.038 |
7- Equity Shares | - | - | |
8- Impairment on Financial Assets (-) | - | - | |
C- Receivables From Main Operations | 12.1 | 2.751.561.676 | 1.977.341.896 |
1- Receivables From Insurance Operations | 12.1 | 384.594.691 | 209.251.931 |
2- Provision for Receivables From Insurance Operations (-) | - | - | |
3- Receivables From Reinsurance Operations | 12.1, 45 | 1.840.475.266 | 1.573.837.254 |
4- Provision for Receivables From Reinsurance Operations (-) | - | - | |
5- Cash Deposited With Insurance & Reinsurance Companies | - | - | |
6- Loans to Policyholders | - | - | |
7- Provision for Loans to Policyholders (-) | - | - | |
8- Receivables from Pension Operation | 12.1 | 526.491.719 | 194.252.711 |
9- Doubtful Receivables From Main Operations | - | - | |
10- Provisions for Doubtful Receivables From Main Operations (-) | - | - | |
D- Due from Related Parties | 12.1 | 101.053.253 | 105.335.724 |
1- Due from Shareholders | - | - | |
2- Due from Affiliates | - | - | |
3- Due from Subsidiaries | - | - | |
4- Due from Entities Under Common Control | - | - | |
5- Due from Personnel | 78.984 | 79.214 | |
6- Due from Other Related Parties | 45 | 100.974.269 | 105.256.510 |
7- Discount on Receivables Due from Related Parties (-) | - | - | |
8- Doubtful Receivables Due from Related Parties | - | - | |
9- Provisions for Doubtful Receivables Due from Related Parties (-) | - | - | |
E- Other Receivables | 12.1 | 43.509.670 | 36.220.205 |
1- Leasing Receivables | - | - | |
2- Unearned Leasing Interest Income (-) | - | - | |
3- Deposits and Guarantees Given | 4.917.625 | 455.564 | |
4- Other Receivables | 12.654.783 | 35.614.676 | |
5- Discount on Other Receivables (-) | - | - | |
6- Other Doubtful Receivables | 25.937.262 | 149.965 | |
7- Provisions for Other Doubtful Receivables (-) | - | - | |
F- Prepaid Expenses and Income Accruals | 3.626.390.458 | 2.319.262.539 | |
1- Deferred Commission Expenses | 2.20 | 2.987.528.036 | 2.149.154.765 |
2- Accrued Interest and Rent Income | - | - | |
3- Income Accruals | 45 | 93.594.552 | - |
4- Other Prepaid Expenses | 47.1 | 545.267.870 | 170.107.774 |
G- Other Current Assets | 47.1 | 189.131.116 | 56.664.835 |
1- Stock to be used in following months | - | - | |
2- Prepaid Taxes and Funds | 35 | 131.593.099 | 54.546.464 |
3- Deferred Tax Assets | - | - | |
4- Business Advances | 47.1 | 56.643.959 | 915.850 |
5- Advances Given to Personnel | 47.1 | 894.058 | 1.202.521 |
6- Stock Count Differences | - | - | |
7- Other Current Assets | - | - | |
8- Provision for Other Current Assets (-) | - | - | |
I- Total Current Asset | 74.412.535.479 | 61.350.086.232 | |
ASSETS | |||
II- NON CURRENT ASSETS | Notes | Reviewed Current Period | Audited Previous Period |
30 June 2026 | 31 December 2025 | ||
A- Receivables From Main Operations | 12.1 | 448.327.478.415 | 402.132.019.806 |
1- Receivables From Insurance Operations | - | - | |
2- Provision for Receivables From Insurance Operations (-) | - | - | |
3- Receivables From Reinsurance Operations | - | - | |
4- Provision for Receivables From Reinsurance Operations (-) | - | - | |
5- Cash Deposited with Insurance & Reinsurance Companies | - | - | |
6- Loans to Policyholders | 2.20,12.1, 17.2, 17.15 | 838.855.859 | 790.128.263 |
7- Provision for Loans to Policyholders (-) | - | - | |
8- Receivables From Pension Operations | 17.5, 17.6,19 | 447.488.622.556 | 401.341.891.543 |
9- Doubtful Receivables from Main Operations | - | - | |
10- Provision for Doubtful Receivables from Main Operations | - | - | |
B- Due from Related Parties | - | - | |
1- Due from Shareholders | - | - | |
2- Due from Affiliates | - | - | |
3- Due from Subsidiaries | - | - | |
4- Due from Entities Under Common Control | - | - | |
5- Due from Personnel | - | - | |
6- Due from Other Related Parties | - | - | |
7- Discount on Receivables Due from Related Parties (-) | - | - | |
8- Doubtful Receivables Due from Related Parties | - | - | |
9- Provisions for Doubtful Receivables Due from Related Parties (-) | - | - | |
C- Other Receivables | 12.1 | 862.158 | 861.412 |
1- Leasing Receivables | - | - | |
2- Unearned Leasing Interest Income (-) | - | - | |
3- Deposits and Guarantees Given | 12.1 | 862.158 | 861.412 |
4- Other Receivables | - | - | |
5- Discount on Other Receivables (-) | - | - | |
6- Other Doubtful Receivables | - | - | |
7- Provisions for Other Doubtful Receivables (-) | - | - | |
D- Financial Assets | 45.2 | 4.169.473 | 4.169.473 |
1- Long-term Investments | - | - | |
2- Affiliates | - | - | |
3- Capital Commitments to Affiliates (-) | - | - | |
4- Subsidiaries | - | - | |
5- Capital Commitments to Subsidiaries (-) | - | - | |
6- Entities Under Common Control | - | - | |
7- Capital Commitments to Entities Under Common Control (-) | - | - | |
8- Financial Assets and Investments with Risks on Policyholders | - | - | |
9- Other Financial Assets | 45.2 | 4.169.473 | 4.169.473 |
10- Impairment on Financial Assets (-) | - | - | |
E- Tangible Assets | 6.3 | 896.405.539 | 912.130.310 |
1- Investment Properties | - | - | |
2- Impairment on Investment Properties (-) | - | - | |
3- Owner Occupied Property | - | - | |
4- Machinery and Equipments | 6.3 | 227.424.818 | 225.737.625 |
5- Furnitures and Fixtures | 6.3 | 189.784.923 | 185.366.455 |
6- Vehicles | 6.3 | 11.464.513 | 11.464.513 |
7- Other Tangible Assets (Including Leasehold Improvements) | 6.3 | 453.406.208 | 395.071.655 |
8- Leased Tangible Fixed Assets | 6.3 | 450.066.192 | 406.904.775 |
9- Accumulated Depreciation (-) | 6.3 | (435.741.115) | (312.414.713) |
10- Advances Paid for Tangible Fixed Assets (Including Construction In Progresses) | - | - | |
F- Intangible Assets | 8 | 2.566.728.393 | 2.107.392.532 |
1- Rights | - | - | |
2- Goodwill | - | - | |
3- Establishment Costs | - | - | |
4- Research and Development Expenses | - | - | |
5- Other Intangible Assets | 8 | 3.031.547.246 | 2.467.006.411 |
6- Accumulated Amortizations (-) | 8 | (1.001.965.783) | (743.268.389) |
7- Advances Regarding Intangible Assets | 8 | 537.146.930 | 383.654.510 |
G- Prepaid Expenses and Income Accruals | 3.154.644 | 2.786.271 | |
1- Deferred Expenses | - | - | |
2- Income Accruals | - | - | |
3- Other Prepaid Expenses and Income Accruals | 47.1 | 3.154.644 | 2.786.271 |
H- Other Non-current Assets | 21 | 494.809.716 | 343.694.890 |
1- Cash Foreign Currency Accounts | - | - | |
2- Foreign Currency Accounts | - | - | |
3- Stock to be used in following months | - | - | |
4- Prepaid Taxes and Funds | - | - | |
5- Deferred Tax Assets | 21 | 494.809.716 | 343.694.890 |
6- Other Non-current Assets | - | - | |
7- Other Non-current Assets Amortization (-) | - | - | |
8- Provision for Other Non-current Assets (-) | - | - | |
II- Total Non-current Assets | 452.293.608.338 | 405.503.054.694 | |
Total Assets (I+II) | 526.706.143.817 | 466.853.140.926 | |
LIABILITIES | |||
III- SHORT TERM LIABILITIES | Note | Reviewed Current Period | Audited Previous Period |
30 June 2026 | 31 December 2025 | ||
A- Borrowings | 20 | 100.522.927 | 116.828.878 |
1- Borrowings from Financial Institutions | - | - | |
2- Finance Lease Payables | 4, 20 | 189.801.255 | 211.500.678 |
3- Deferred Finance Lease Costs (-) | 20 | (89.278.328) | (94.671.800) |
4- Current Portion of Long Term Borrowings | - | - | |
5- Principal, Installments and Interests on Issued Bills (Bonds) | - | - | |
6- Other Financial Instruments Issued | - | - | |
7- In Excess of Par of Financial Instruments (-) | - | - | |
8- Other Financial Borrowings (Liabilities) | - | - | |
B- Payables From Main Operations | 4, 19 | 4.514.769.640 | 5.060.285.518 |
1- Payables From Insurance Operations | 4, 19 | 920.461.256 | 964.172.921 |
2- Payables From Reinsurance Operations | - | - | |
3- Cash Deposited by Insurance & Reinsurance Companies | - | - | |
4- Payables From Pension Operations | 4,19 | 3.594.308.384 | 4.096.112.597 |
5- Payables From Other Operations | - | - | |
6- Discount on Other Payables From Main Operations, Notes Payable (-) | - | - | |
C- Due to Related Parties | 4, 19 | 124.977.837 | 170.006.141 |
1- Due to Shareholders | 12.2, 19 | 4.745.659 | 1.793.615 |
2- Due to Affiliates | - | - | |
3- Due to Subsidiaries | - | - | |
4- Due to Entities Under Common Control | - | - | |
5- Due to Personnel | 19 | 5.895.547 | 7.575.219 |
6- Due to Other Related Parties | 19, 45 | 114.336.631 | 160.637.307 |
D- Other Payables | 4, 19, 47.1 | 1.208.303.112 | 1.008.427.747 |
1- Guarantees and Deposits Received | 30.795 | 28.329 | |
2- Medical Treatment Payables to Social Security Institution | - | - | |
3- Other Payables | 1.208.272.317 | 1.008.399.418 | |
4- Discount on Other Payables (-) | - | - | |
E- Insurance Technical Reserves | 17.15 | 11.994.558.689 | 8.201.319.467 |
1- Unearned Premiums Reserve - Net | 17.15 | 9.381.691.500 | 6.114.714.818 |
2- Unexpired Risk Reserves - Net | - | - | |
3- Life Mathematical Reserves - Net | 17.15 | 1.695.810.950 | 1.271.911.198 |
4- Outstanding Claims Reserve - Net | 2.20, 17.15 | 917.056.239 | 814.693.451 |
5- Provision for Bonus and Discounts - Net | - | - | |
6- Provision for Investment Risk Life Insurance Policyholders' Policies - Net | - | - | |
7- Other Technical Reserves - Net | - | - | |
F- Taxes and Other Liabilities and Provisions | 1.492.191.951 | 960.465.954 | |
1- Taxes and Dues Payable | 542.762.063 | 467.933.029 | |
2- Social Security Premiums Payable | 117.928.804 | 82.840.160 | |
3- Overdue, Deferred or By Installment Taxes and Other Liabilities | - | - | |
4- Other Taxes and Liabilities | - | - | |
5- Corporate Tax Provision on Period Profit | 35 | 1.833.921.968 | 2.340.230.265 |
6- Advance Taxes and Other Liabilities on Period Profit (-) | 35 | (1.002.420.884) | (1.930.537.500) |
7- Provisions for Other Taxes and Liabilities | - | - | |
G- Provisions for Other Risks | 23.2 | 596.484.283 | 754.311.569 |
1- Provision for Employee Termination Benefits | - | - | |
2- Pension Fund Deficit Provision | - | - | |
3- Provisions for Costs | 23.2 | 596.484.283 | 754.311.569 |
H- Deferred Income and Expense Accruals | 19 | 868.066.978 | 374.304.472 |
1- Deferred Income | 2.20, 19 | 26.906.222 | 15.446.561 |
2- Expense Accruals | 19 | 841.160.756 | 358.857.911 |
3- Other Deferred Income and Expense Accruals | - | - | |
I- Other Short Term Liabilities | 23.2 | 124.065.065 | 76.422.309 |
1- Deferred Tax Liability | - | - | |
2- Inventory Count Differences | - | - | |
3- Other Short Term Liabilities | 23.2 | 124.065.065 | 76.422.309 |
III - Total Short Term Liabilities | 21.023.940.482 | 16.722.372.055 | |
LIABILITIES | |||
IV- LONG TERM LIABILITIES | Notes | Reviewed Current Period | Audited Previous Period |
30 June 2026 | 31 December 2025 | ||
A- Borrowings | 20 | 217.781.284 | 207.135.780 |
1- Borrowings From Financial Institutions | - | - | |
2- Finance Lease Payables | 4, 20 | 515.949.890 | 467.382.271 |
3- Deferred Finance Lease Costs (-) | 20 | (298.168.606) | (260.246.491) |
4- Bonds Issued | - | - | |
5- Other Financial Instruments Issued | - | - | |
6- In Excess of Par of Financial Instruments (-) | - | - | |
7- Other Borrowings (Financial Liabilities) | - | - | |
B- Payables From Main Operations | 4, 12.1, 17.5,17.6, 19 | 447.488.622.556 | 401.341.891.543 |
1- Payables From Insurance Operations | - | - | |
2- Payables From Reinsurance Operations | - | - | |
3- Cash Deposited by Insurance & Reinsurance Companies | - | - | |
4- Payables From Pension Operations | 4, 12.1,17.5, 17.6, 19 | 447.488.622.556 | 401.341.891.543 |
5- Payables From Other Operations | - | - | |
6- Discount on Other Payables From Main Operations (-) | - | - | |
C- Due to Related Parties | - | - | |
1- Due to Shareholders | - | - | |
2- Due to Affiliates | - | - | |
3- Due to Subsidiaries | - | - | |
4- Due to Entities Under Common Control | - | - | |
5- Due to Personnel | - | - | |
6- Due to Other Related Parties | - | - | |
D- Other Payables | - | - | |
1- Guarantees and Deposits Received | - | - | |
2- Medical Treatment Payables to Social Security Institution | - | - | |
3- Other Payables | - | - | |
4- Discount on Other Payables (-) | - | - | |
E- Insurance Technical Reserves | 17.15 | 44.883.241.182 | 38.184.104.164 |
1- Unearned Premiums Reserve - Net | - | - | |
2- Unexpired Risk Reserves - Net | - | - | |
3- Life Mathematical Reserves - Net | 17.15 | 44.608.692.301 | 37.973.565.061 |
4- Outstanding Claims Reserve - Net | - | - | |
5- Provision for Bonus and Discounts - Net | - | - | |
6- Provision for Investment Risk Life Insurance Policyholders' Policies -Net | - | - | |
7- Other Technical Reserves - Net | 2.20,17.15 | 274.548.881 | 210.539.103 |
F- Other Liabilities and Provisions | 62.702.165 | 56.618.257 | |
1- Other Liabilities | - | - | |
2- Overdue, Deferred or By Installment Other Liabilities | - | - | |
3- Other Liabilities and Expense Accruals | 62.702.165 | 56.618.257 | |
G- Provisions for Other Risks | 22 | 296.642.035 | 242.940.098 |
1- Provision for Employee Termination Benefits | 22 | 296.642.035 | 242.940.098 |
2- Provisions for Employee Pension Fund Deficits | - | - | |
H- Deferred Income and Expense Accruals | - | - | |
1- Deferred Income | - | - | |
2- Expense Accruals | - | - | |
3- Other Deferred Income and Expense Accruals | - | - | |
I- Other Long Term Liabilities | 21,35 | 16.639.326 | 7.629.404 |
1- Deferred Tax Liability | 16.639.326 | 7.629.404 | |
2- Other Long Term Liabilities | - | - | |
IV- Total Long Term Liabilities | 492.965.628.548 | 440.040.319.246 | |
LIABILITIES | |||
V- SHAREHOLDERS' EQUITY | Notes | Reviewed Current Period | Audited Previous Period |
30 June 2026 | 31 December 2025 | ||
A- Paid in Capital | 2.13,15.3 | 180.000.000 | 180.000.000 |
1- (Nominal) Capital | 2.13,15.3 | 180.000.000 | 180.000.000 |
2- Unpaid Capital (-) | - | - | |
3- Positive Capital Restatement Differences | - | - | |
4- Negative Capital Restatement Differences (-) | - | - | |
5-Capital to be registered | - | - | |
B- Capital Reserves | 15.2 | (116.757.152) | (113.005.243) |
1- Equity Share Premiums | - | - | |
2- Cancellation Profits of Equity Shares | - | - | |
3- Gain on Sale of Assets to be Transferred to Capital | - | - | |
4- Translation Reserves | - | - | |
5- Other Capital Reserves | 15.2 | (116.757.152) | (113.005.243) |
C- Profit Reserves | 8.653.633.914 | 4.468.375.634 | |
1- Legal Reserves | 15.2 | 361.939.901 | 237.839.901 |
2- Statutory Reserves | 15.2 | 11.494 | 11.494 |
3- Extraordinary Reserves | 15.2 | 8.400.032.526 | 4.219.053.292 |
4- Special Funds (Reserves) | - | - | |
5- Valuation of Financial Assets | 15.2 | 138.270.318 | 246.906.378 |
6- Other Profit Reserves | 15.2 | (246.620.325) | (235.435.431) |
D- Retained Earning | - | - | |
1- Retained Earnings | - | - | |
E- Previous Years' Losses (-) | - | - | |
1- Previous Years' Losses | - | - | |
F- Net Profit of the Period | 3.999.698.025 | 5.555.079.234 | |
1- Net Profit of the Period | 3.999.698.025 | 5.555.079.234 | |
2- Net Loss of the Period | - | - | |
3- Net Profit of the Period not Subject to Distribution | - | - | |
G-Minory Interests | - | - | |
Total Shareholders' Equity | 12.716.574.787 | 10.090.449.625 | |
Total Liabilities and Shareholders' Equity (III+IV+V) | 526.706.143.817 | 466.853.140.926 | |
I- TECHNICAL DIVISION | Notes | Reviewed Current Period | Reviewed Current Period | Reviewed Previous Period | Reviewed Previous Period |
1 January- 30 June 2026 | 1 April- 30 June 2026 | 1 January- 30 June 2025 | 1 April- 30 June 2025 | ||
A- Non-Life Technical Income | 3.991.626.080 | 2.136.958.140 | 2.811.623.451 | 1.509.121.211 | |
1- Earned Premiums (Net of Reinsurer Share) | 3.290.545.818 | 1.726.420.248 | 2.287.123.784 | 1.203.934.276 | |
1.1- Premiums (Net of Reinsurer Share) | 5,24 | 4.445.154.692 | 1.350.838.507 | 3.096.960.853 | 898.651.255 |
1.1.1- Gross Premiums (+) | 5,24 | 4.447.201.835 | 1.351.836.048 | 3.098.142.182 | 899.316.973 |
1.1.2- Ceded Premiums to Reinsurers (-) | 5,10,24 | (2.047.143) | (997.541) | (1.181.329) | (665.718) |
1.1.3- Premiums Transferred to SSI (-) | - | - | - | - | |
1.2- Change in Unearned Premiums Reserve (Net of Reinsurers Shares and Reserves Carried Forward) (+/-) | 5,17.15, 47.4 | (1.154.608.874) | 375.581.741 | (809.837.069) | 305.283.021 |
1.2.1- Unearned Premiums Reserve (-) | 17.15 | (1.154.608.874) | 375.581.741 | (809.837.069) | 305.283.021 |
1.2.2- Reinsurance Share of Unearned Premiums Reserve (+) | - | - | - | - | |
1.3- Changes in Unexpired Risks Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) | - | - | - | - | |
1.3.1- Unexpired Risks Reserve (-) | - | - | - | - | |
1.3.2- Reinsurance Share of Unexpired Risks Reserve (+) | - | - | - | - | |
2- Investment Income Transferred from Non-Technical Division | 635.205.091 | 367.440.032 | 519.525.339 | 303.077.547 | |
3- Other Technical Income (Net of Reinsurer Share) | 65.875.171 | 43.097.860 | 4.974.328 | 2.109.388 | |
3.1- Gross Other Technical Income (+) | 65.875.171 | 43.097.860 | 4.974.328 | 2.109.388 | |
3.2- Reinsurance Share of Other Technical Income (-) | - | - | - | - | |
4. Accrued Subrogation and Sovtage Income (+) | - | - | - | - | |
B- Non-Life Technical Expenses (-) | (3.707.218.044) | (1.867.733.153) | (2.464.917.984) | (1.243.832.652) | |
1- Total Claims (Net of Reinsurer Share) | 5 | (2.576.588.251) | (1.284.154.900) | (1.686.927.217) | (839.964.608) |
1.1- Claims Paid (Net of Reinsurer Share) | 17.15 | (2.607.208.749) | (1.334.208.926) | (1.579.456.481) | (847.442.804) |
1.1.1- Gross Claims Paid (-) | 17.15 | (2.609.518.769) | (1.335.910.930) | (1.579.536.473) | (847.522.796) |
1.1.2- Reinsurance Share of Claims Paid (+) | 10, 17.15 | 2.310.020 | 1.702.004 | 79.992 | 79.992 |
1.2- Changes in Outstanding Claims Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) | 17.15,47.4 | 30.620.498 | 50.054.026 | (107.470.736) | 7.478.196 |
1.2.1- Outstanding Claims Reserve (-) | 17.15 | 32.771.362 | 51.619.046 | (107.440.997) | 7.513.176 |
1.2.2- Reinsurance Share of Outstanding Claims Reserve (+) | 10,17.15 | (2.150.864) | (1.565.020) | (29.739) | (34.980) |
2- Changes in Bonus and Discount Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) | - | - | - | - | |
2.1- Bonus and Discount Reserve (-) | - | - | - | - | |
2.2- Reinsurance Share of Bonus and Discount Reserve (+) | - | - | - | - | |
3- Changes in Other Technical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) | 5, 17.15,47.4 | (1.893.498) | (1.326.957) | (1.433.170) | (493.641) |
4- Operating Expenses (-) | 31 | (1.128.734.474) | (582.249.475) | (776.556.534) | (403.373.340) |
5- Changes in Mathematical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) | - | - | - | - | |
5.1- Mathematical Reserves (-) | - | - | - | - | |
5.2- Reinsurer Share of Mathematical Reserves (+) | - | - | - | - | |
6- Other Technical Expenses (-) | (1.821) | (1.821) | (1.063) | (1.063) | |
6.1- Other Gross Technical Expenses (-) | (1.821) | (1.821) | (1.063) | (1.063) | |
6.2- Reinsurer Share of Other Gross Technical Expenses (+) | - | - | - | - | |
C- Non Life Technical Profit / (Loss) (A-B) | 284.408.036 | 269.224.987 | 346.705.467 | 265.288.559 | |
D- Life Technical Income | 16.399.864.369 | 8.781.440.148 | 13.182.627.004 | 6.921.768.306 | |
1- Earned Premiums (Net of Reinsurer Share) | 12.915.298.888 | 6.717.977.128 | 9.933.862.753 | 5.424.112.738 | |
1.1- Premiums (Net of Reinsurer Share) | 5,24 | 15.027.666.696 | 8.176.574.226 | 10.223.616.854 | 5.600.423.346 |
1.1.1- Gross Premiums (+) | 5,24 | 15.448.697.576 | 8.397.544.129 | 10.480.658.254 | 5.756.780.433 |
1.1.2- Ceded Premiums to Reinsurers (-) | 5,10,24 | (421.030.880) | (220.969.903) | (257.041.400) | (156.357.087) |
1.2- Change in Unearned Premiums Reserve (Net of Reinsurers Shares and Reserves Carried Forward) (+/-) | 5,17.15,47.4 | (2.112.367.808) | (1.458.597.098) | (289.754.101) | (176.310.608) |
1.2.1- Unearned Premiums Reserve (-) | 17.15 | (2.115.327.019) | (1.461.367.582) | (292.280.735) | (177.462.249) |
1.2.2- Reinsurance Share of Unearned Premiums Reserve (+) | 10, 17.15 | 2.959.211 | 2.770.484 | 2.526.634 | 1.151.641 |
1.3- Changes in Unexpired Risks Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) | - | - | - | - | |
1.3.1- Unexpired Risks Reserve (-) | - | - | - | - | |
1.3.2- Reinsurance Share of Unexpired Risks Reserve (+) | - | - | - | - | |
2- Life Branch Investment Income | 5 | 3.394.060.189 | 2.012.030.717 | 3.145.822.742 | 1.451.609.567 |
3- Accrued (Unrealized) Income from Investments | - | - | - | - | |
4- Other Technical Income (Net of Reinsurer Share) | 5 | 90.505.292 | 51.432.303 | 102.941.509 | 46.046.001 |
4.1- Other Gross Technical Income (+/-) | 5 | 90.505.292 | 51.432.303 | 102.941.509 | 46.046.001 |
4.2- Ceded Other Technical Income (+/-) | - | - | - | - | |
5. Accrued Subrogation Income (+) | - | - | - | - |
6
I- TECHNICAL DIVISION | Notes | Reviewed Current Period | Reviewed Current Period | Reviewed Previous Period | Reviewed Previous Period |
1 January- 30 June 2026 | 1 April- 30 June 2026 | 1 January- 30 June 2025 | 1 April- 30 June 2025 | ||
E- Life Technical Expense | (13.952.141.951) | (7.377.169.637) | (11.420.233.032) | (5.780.689.998) | |
1- Total Claims (Net of Reinsurer Share) | (2.587.487.792) | (1.349.013.390) | (1.327.652.616) | (714.237.164) | |
1.1- Claims Paid (Net of Reinsurer Share) | 5 | (2.454.504.506) | (1.238.433.480) | (1.237.516.535) | (671.489.345) |
1.1.1- Gross Claims Paid (-) | 17.15 | (2.677.322.456) | (1.362.091.292) | (1.319.980.482) | (719.444.001) |
1.1.2- Reinsurance Share of Claims Paid (+) | 17.15 | 222.817.950 | 123.657.812 | 82.463.947 | 47.954.656 |
1.2- Changes in Outstanding Claims Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) | 10, 17.15 | (132.983.286) | (110.579.910) | (90.136.081) | (42.747.819) |
1.2.1- Outstanding Claims Reserve (-) | 17.15,47.4 | (191.605.148) | (148.497.459) | (144.820.203) | (58.808.518) |
1.2.2- Reinsurance Share of Outstanding Claims Reserve (+) | 17.15 | 58.621.862 | 37.917.549 | 54.684.122 | 16.060.699 |
2- Changes in Bonus and Discount Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) | - | - | - | - | |
2.1- Bonus and Discount Reserve (-) | - | - | - | - | |
2.2- Reinsurance Share of Bonus and Discount Reserve (+) | - | - | - | - | |
3- Changes in Life Mathematical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) | (7.178.372.451) | (3.987.982.463) | (6.985.062.112) | (3.483.424.927) | |
3.1- Life Mathematical Reserves | 5, 47.4 | (7.178.151.300) | (3.987.957.026) | (6.988.142.756) | (3.485.339.643) |
3.1.1- Actuarial Mathematics provision(+/-) | 17.15 | (7.178.151.300) | (3.987.957.026) | (6.988.142.756) | (3.485.339.643) |
3.1.2- Dividend Equivalent (Provision for Policyholders Investment Risk.) | - | - | - | - | |
3.2- Reinsurance Share of Life Mathematical Reserves | (221.151) | (25.437) | 3.080.644 | 1.914.716 | |
3.2.1- Provision of Reinsurance Actuarial Mathematics (+) | 10, 17.15 | (221.151) | (25.437) | 3.080.644 | 1.914.716 |
3.2.2- Reinsurer's Share of Profit Share (Provision for Policyholders Investment Risk.) (+) | 10, 17.15 | - | - | - | - |
4- Changes in Technical Reserves for Investments with Risks on Policyholders (Net of Reinsurer Share and Reserves Carried Forward) (+/- ) | (62.116.280) | (35.113.311) | (36.378.550) | (20.220.226) | |
5- Operating Expenses (-) | 5,17.15,47. 4 | (4.119.093.284) | (2.002.693.045) | (3.071.139.754) | (1.562.807.681) |
6- Investment Expenses (-) | 31 | (5.072.144) | (2.367.428) | - | - |
7- Unrealized Losses from Investments (-) | - | - | - | - | |
8- Investment Income Transferred to Non-Technical Divisions (-) | - | - | - | - | |
F- Life Technical Profit / (Loss) (D-E) | 2.447.722.418 | 1.404.270.511 | 1.762.393.972 | 1.141.078.308 | |
G- Private Pension Technical Income | 4.330.489.107 | 1.984.950.435 | 2.702.323.586 | 1.273.523.997 | |
1- Fund Management Fee | 25 | 2.730.732.172 | 1.390.463.318 | 1.673.293.363 | 871.856.098 |
2- Management Fee | 25 | 1.301.509.432 | 440.018.112 | 844.195.054 | 304.057.125 |
3- Entrance Fee Income | 25 | 298.247.503 | 154.469.005 | 183.592.789 | 96.368.394 |
4- Management Fee In Case Of Temporary Suspension | - | - | - | - | |
5- Income from Individual Service Charges | - | - | - | - | |
6- Increase in Market Value of Capital Commitment Advances | - | - | 1.242.380 | 1.242.380 | |
7- Other Technical Income | - | - | - | - | |
H- Private Pension Technical Expenses | (4.685.127.903) | (2.331.147.767) | (3.325.916.619) | (1.779.290.319) | |
1- Fund Management Expenses (-) | (453.293.076) | (235.590.091) | (252.713.726) | (140.069.365) | |
2- Decrease in Market Value of Capital Commitment Advances (-) | - | - | (251.430) | (251.430) | |
3- Operating Expenses (-) | 31 | (3.952.986.370) | (1.951.752.813) | (2.844.532.011) | (1.500.605.959) |
4- Other Technical Expenses (-) | (264.062.265) | (137.102.885) | (202.424.659) | (115.488.864) | |
5- Penalty Payments | (14.786.192) | (6.701.978) | (25.994.793) | (22.874.701) | |
I- Private Pension Technical Profit / (Loss) (G-H) | (354.638.796) | (346.197.332) | (623.593.033) | (505.766.322) |
7
II- NON TECHNICAL DIVISION | Notes | Reviewed Current Period | Reviewed Current Period | Reviewed Previous Period | Reviewed Previous Period |
1 January- 30 June 2026 | 1 April- 30 June 2026 | 1 January- 30 June 2025 | 1 April- 30 June 2025 | ||
C- Non Life Technical Profit / (Loss) (A-B) | 284.408.036 | 269.224.987 | 346.705.467 | 265.288.559 | |
F- Life Technical Profit / (Loss) (D-E) | 2.447.722.418 | 1.404.270.511 | 1.762.393.972 | 1.141.078.308 | |
I- Private Pension Technical Profit / (Loss) (G-H) | (354.638.796) | (346.197.332) | (623.593.033) | (505.766.322) | |
J- Total Technical Profit / (Loss) (C+F+I) | 2.377.491.658 | 1.327.298.166 | 1.485.506.406 | 900.600.545 | |
K- Investment Income | 4.521.267.217 | 2.431.402.793 | 3.023.250.972 | 1.578.729.115 | |
1- Income From Financial Investment | 26 | 3.396.434.423 | 1.441.712.650 | 2.202.363.744 | 704.729.468 |
2- Income from Sales of Financial Investments | 26 | 60.124.940 | 31.563.422 | 62.321.174 | 23.340.584 |
3- Revaluation of Financial Investments | 27 | 670.849.158 | 765.027.422 | 490.528.149 | 721.368.111 |
4- Foreign Exchange Gains | 36 | 380.017.380 | 193.099.299 | 257.708.904 | 129.290.952 |
5- Dividend Income from Affiliates | 26 | 13.841.316 | - | 10.329.001 | - |
6- Income form Subsidiaries and Entities Under Common Control | - | - | - | - | |
7- Income Received from Land and Building | - | - | - | - | |
8- Income from Derivatives | - | - | - | - | |
9- Other Investments | - | - | - | - | |
10- Investment Income transferred from Life Technical Division | - | - | - | - | |
L- Investment Expenses (-) | (1.179.102.695) | (611.275.862) | (793.761.056) | (454.182.018) | |
1- Investment Management Expenses (Including Interest) (-) | (77.965.849) | (33.696.467) | (67.732.962) | (38.366.775) | |
2- Valuation Allowance of Investments (-) | - | - | - | - | |
3- Losses On Sales of Investments (-) | (174.485) | - | - | - | |
4- Investment Income Transferred to Non-Life Technical Division (-) | (635.205.091) | (367.440.032) | (519.525.339) | (303.077.547) | |
5- Losses from Derivatives (-) | 13,26,36 | (10.287.900) | (4.740.500) | (13.085.900) | (6.656.400) |
6- Foreign Exchange Losses (-) | 36 | (62.289.763) | (947.388) | (832.002) | (431.562) |
7- Depreciation Charges (-) | 6.1 | (393.083.798) | (204.451.475) | (192.149.003) | (105.637.272) |
8- Other Investment Expenses (-) | (95.809) | - | (435.850) | (12.462) | |
M- Income and Expenses From Other and Extraordinary Operations (+/-) | (63.668.975) | (4.417.499) | 45.060.931 | 78.907.405 | |
1- Provisions (+/-) | (101.580.759) | (20.624.198) | (62.533.713) | (16.982.196) | |
2- Discounts (+/-) | - | - | - | - | |
3- Specialty Insurances (+/-) | - | - | - | - | |
4- Inflation Adjustment (+/-) | - | - | - | - | |
5- Deferred Tax Asset (+/-) | 35,47.4 | 105.307.416 | 60.251.278 | 177.700.267 | 151.858.458 |
6- Deferred Tax Liability Accounts (+/-) | (9.483.012) | (22.917.513) | - | - | |
7- Other Income and Revenues | 47.1 | 263.145.313 | 149.365.199 | 137.460.852 | 69.753.254 |
8- Other Expenses and Losses (-) | 47.1 | (330.956.218) | (180.209.521) | (215.151.824) | (118.565.686) |
9- Prior Period Income | 47.3 | 14.613.323 | 10.916.908 | 26.985.476 | 5.729.392 |
10- Prior Period Losses (-) | 47.3 | (4.715.038) | (1.199.652) | (19.400.127) | (12.885.817) |
N- Net Profit / (Loss) | 3.999.698.025 | 2.241.234.105 | 2.607.429.710 | 1.424.407.804 | |
1- Profit / (Loss) Before Tax | 5.655.987.205 | 3.143.007.598 | 3.760.057.253 | 2.104.055.047 | |
2- Corporate Tax Charge and Other Fiscal Liabilities (-) | 35,47.4 | (1.656.289.180) | (901.773.493) | (1.152.627.543) | (679.647.243) |
3- Net Profit / (Loss) | 3.999.698.025 | 2.241.234.105 | 2.607.429.710 | 1.424.407.804 | |
Owners of Parent | - | - | - | - | |
Minority Interests | - | - | - | - | |
4- Inflation Adjustment Account (+/-) | - | - | - | - |
Notes | Reviewed Current Period | Reviewed Previous Period | |
1 January- 30 Juıne 2026 | 1 January- 30 June 2025 | ||
A. Cash Flows from the Operating Activities | - | - | |
1. Cash inflows from the insurance operations | 15.604.579.603 | 10.532.292.003 | |
2. Cash inflows from the reinsurance operations | 5.414.570.543 | 4.374.519.573 | |
3. Cash inflows from the pension operations | 58.551.603.030 | 41.566.743.301 | |
4. Cash outflows due to the insurance operations (-) | (7.242.969.953) | (4.195.687.732) | |
5. Cash outflows due to the reinsurance operations (-) | (5.199.716.013) | (3.616.257.379) | |
6. Cash outflows due to the pension operations (-) | (54.101.619.223) | (38.339.603.650) | |
7. Cash generated from the operating activities (A1+A2+A3-A4-A5-A6) | 13.026.447.987 | 10.322.006.116 | |
8. Interest payments (-) | - | (197.257) | |
9. Income tax payments (-) | (1.457.245.402) | (816.354.624) | |
10. Other cash inflows | 1.669.042.672 | 293.241.891 | |
11. Other cash outflows (-) | (6.602.010.763) | (4.866.784.378) | |
12. Net cash generated from / (used in) operating activities | 6.636.234.494 | 4.931.911.748 | |
B. Cash flows from the investing activities | - | - | |
1. Sale of tangible assets | 4.306.418 | 15.995.522 | |
2. Purchase of tangible assets (-) | 6.3.1 | (791.756.705) | (715.277.999) |
3. Acquisition of financial assets (-) | 11.4 | (12.418.944.175) | (10.035.632.424) |
4. Sale of financial assets | 11.127.381.948 | 5.701.964.160 | |
5. Interest received | 3.492.555.755 | 2.292.513.248 | |
6. Dividends received | 26 | 13.841.316 | 10.329.001 |
7. Other cash inflows | - | - | |
8. Other cash outflows (-) | - | - | |
9. Net cash generated from / (used in) the investing activities | 1.427.384.557 | (2.730.108.492) | |
C. Cash flows from the financing activities | - | - | |
1. Issue of equity shares | - | - | |
2. Cash inflows from borrowings | - | - | |
3. Payments of financial leases (-) | 20 | (115.446.852) | (77.978.689) |
4. Dividends paid (-) | (1.168.949.088) | (940.822.517) | |
5. Other cash inflows | - | - | |
6. Other cash outflows (-) | (3.751.909) | (13.620.400) | |
7. Cash generated from / (used in) the financing activities | (1.288.147.849) | (1.032.421.606) | |
D. Effects of Exchange Rate Differences on Cash and Cash Equivalents | 5.560.248 | 1.875.549 | |
E. Net increase / (decrease) in cash and cash equivalents (A12+B9+C7+D) | 6.781.031.450 | 1.171.257.199 | |
F. Cash and cash equivalents at the beginning of the period | 2.12 | 7.466.574.733 | 5.559.613.905 |
G. Cash and cash equivalents at the end of period (E+F) | 2.12 | 14.247.606.183 | 6.730.871.104 |
CONSOLIDATED SHAREHOLDERS' EQUITY AS OF 30 JUNE 2026
(Amounts expressed in Turkish Lira (TL) unless otherwise stated).
Reviewed Current Period | |||||||||||||
1 January-30 June 2026 | |||||||||||||
Capital | Treasury Shares | Investment Revaluation Reserve | Inflation Adjustment to Shareholders' Equity | Exchange Differences Arising on Translation of Foreign Operations | Legal Reserves | Statutory Reserves | Other Reserves and Retained Earnings | Net Profit / (Loss) for the Period | Previous Periods' Profits / (Losses) (-) | Equity Attributable to Owners of Parent | Non- controlling Interests | Total | |
I- Equity at End of Prior Period | 180.000.000 | (113.842.338) | 246.906.378 | - | - | 237.839.901 | 11.494 | 3.984.454.956 | 5.555.079.234 | - | 10.090.449.625 | - | 10.090.449.625 |
II- Changes In Accounting Policy(*) | - | - | - | - | - | - | - | - | - | - | - | - | - |
III- Balance at (01/01/2026) | 180.000.000 | (113.842.338) | 246.906.378 | - | - | 237.839.901 | 11.494 | 3.984.454.956 | 5.555.079.234 | - | 10.090.449.625 | - | 10.090.449.625 |
A- Capital increase (A1 + A2) | - | - | - | - | - | - | - | - | - | - | - | - | - |
1- Cash | - | - | - | - | - | - | - | - | - | - | - | - | - |
2- Internal Resources | - | - | - | - | - | - | - | - | - | - | - | - | - |
B- Purchase of own shares | - | (3.751.909) | - | - | - | - | - | - | - | - | (3.751.909) | - | (3.751.909) |
C- Income / (expenses) recognized directly in equity | - | - | - | - | - | - | - | (11.184.894) | - | - | (11.184.894) | - | (11.184.894) |
D- Valuation gains on assets | - | - | (108.636.060) | - | - | - | - | - | - | - | (108.636.060) | - | (108.636.060) |
E- Exchange difference arising on translation of foreign operations | - | - | - | - | - | - | - | - | - | - | - | - | - |
F- Other income / (expenses) | - | - | - | - | - | - | - | - | - | - | - | - | - |
G- Inflation adjustments | - | - | - | - | - | - | - | - | - | - | - | - | - |
H- Net profit for the period | - | - | - | - | - | - | - | - | 3.999.698.025 | - | 3.999.698.025 | - | 3.999.698.025 |
I- Payment of dividends | - | - | - | - | - | - | - | - | (1.250.000.000) | - | (1.250.000.000) | - | (1.250.000.000) |
J- Transfers | - | - | - | - | - | 124.100.000 | - | 4.180.979.234 | (4.305.079.234) | - | - | - | - |
IV- Balance at (30/06/2026) (III+A+B+C+D+E+F+G+H+I+J) | 180.000.000 | (117.594.247) | 138.270.318 | - | - | 361.939.901 | 11.494 | 8.154.249.296 | 3.999.698.025 | - | 12.716.574.787 | - | 12.716.574.787 |
Reviewed Current Period | |||||||||||||
1 January-30 June 2025 | |||||||||||||
Capital | Treasury Shares | Investment Revaluation Reserve | Inflation Adjustment to Shareholders' Equity | Exchange Differences Arising on Translation of Foreign Operations | Legal Reserves | Statutory Reserves | Other Reserves and Retained Earnings | Net Profit / (Loss) for the Period | Previous Periods' Profits / (Losses) (-) | Equity Attributable to Owners of Parent | Non-controlling Interests | Total | |
I- Equity at End of Prior Period | 180.000.000 | (100.221.938) | 75.248.129 | - | - | 138.739.901 | 11.494 | 2.324.547.109 | 2.871.345.742 | (40.761.641) | 5.448.908.796 | - | 5.448.908.796 |
II- Changes In Accounting Policy(*) | - | - | - | - | - | - | - | - | - | - | - | - | - |
III- Balance at (01/01/2025) | 180.000.000 | (100.221.938) | 75.248.129 | - | - | 138.739.901 | 11.494 | 2.324.547.109 | 2.871.345.742 | (40.761.641) | 5.448.908.796 | - | 5.448.908.796 |
A- Capital increase (A1 + A2) | - | - | - | - | - | - | - | - | - | - | - | - | - |
1- Cash | - | - | - | - | - | - | - | - | - | - | - | - | - |
2- Internal Resources | - | - | - | - | - | - | - | - | - | - | - | - | - |
B- Purchase of own shares | - | (13.620.400) | - | - | - | - | - | - | - | - | (13.620.400) | - | (13.620.400) |
C- Income / (expenses) recognized directly in equity | - | - | - | - | - | - | - | (6.731.062) | - | - | (6.731.062) | - | (6.731.062) |
D- Valuation gains on assets | - | - | (29.858.063) | - | - | - | - | - | - | - | (29.858.063) | - | (29.858.063) |
E- Exchange difference arising on translation of foreign operations | - | - | - | - | - | - | - | - | - | - | - | - | - |
F- Other income / (expenses) | - | - | - | - | - | - | - | - | - | - | - | - | - |
G- Inflation adjustments | - | - | - | - | - | - | - | - | - | - | - | - | - |
H- Net profit for the period | - | - | - | - | - | - | - | - | 2.607.429.710 | - | 2.607.429.710 | - | 2.607.429.710 |
I- Payment of dividends | - | - | - | - | - | - | - | - | (1.000.000.000) | - | (1.000.000.000) | - | (1.000.000.000) |
J- Transfers | - | - | - | - | - | 99.100.000 | - | 1.731.484.101 | (1.871.345.742) | 40.761.641 | - | - | - |
IV- Balance at (30/06/2025) (III+A+B+C+D+E+F+G+H+I+J) | 180.000.000 | (113.842.338) | 45.390.066 | - | - | 237.839.901 | 11.494 | 4.049.300.148 | 2.607.429.710 | - | 7.006.128.981 | - | 7.006.128.981 |