AgeSA Hayat ve Emeklilik Anonim Şirketi
NON-CONSOLIDATED BALANCE SHEET AS OF 31 DECEMBER 2024 (Amounts expressed in Turkish Lira (TL) unless otherwise stated).
ASSETS
Audited | Audited | ||||||||||
Current Period | Previous Period | ||||||||||
I- CURRENT ASSETS | Notes | 31 December 2024 | 31 December 2023 | ||||||||
A- Cash and Cash Equivalents | 2.12,14 | 4.908.818.545 | 2.081.913.384 | ||||||||
1- Cash | - | - | |||||||||
2- Cheques Received | - | - | |||||||||
3- Banks | 2.12,14 | 2.511.214.022 | 626.760.668 | ||||||||
4- Cheques Given and Payment Orders (-) | 2.12,14 | (2.075.657) | (1.759.443) | ||||||||
5- Bank Guaranteed Credit Card Receivables with Maturities Less Than Three | - | ||||||||||
Months | - | ||||||||||
6- Other Cash and Cash Equivalents | 2.12,14 | 2.399.680.180 | 1.456.912.159 | ||||||||
B- Financial Assets and Investments with Risks on Policyholders | 4,11.4 | 28.845.045.335 | 19.448.746.884 | ||||||||
1- Financial Assets Available for Sale | 4,11.4 | 2.814.406.369 | 1.956.502.057 | ||||||||
2- Financial Assets Held to Maturity | 4,11.4 | 928.889.038 | 1.129.087.860 | ||||||||
3- Financial Assets Held for Trading | 4,11.4 | 2.151.259.530 | 999.911.246 | ||||||||
4- Loans | - | - | |||||||||
5- Provision for Loans (-) | - | - | |||||||||
6- Investments with Risks on Policyholders | 4,11.4 | 22.950.490.398 | 15.363.245.721 | ||||||||
7- Equity Shares | - | - | |||||||||
8- Impairment on Financial Assets (-) | - | - | |||||||||
C- Receivables From Main Operations | 12.1 | 258.606.354 | 202.664.601 | ||||||||
1- Receivables From Insurance Operations | 12.1 | 141.140.857 | 86.318.879 | ||||||||
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 | - | - | |||||||||
7- Provision for Loans to Policyholders (-) | - | - | |||||||||
8- Receivables from Pension Operation | 12.1 | 117.465.497 | 116.345.722 | ||||||||
9- Doubtful Receivables From Main Operations | - | - | |||||||||
10- Provisions for Doubtful Receivables From Main Operations (-) | - | - | |||||||||
D- Due from Related Parties | 12.1 | 19.618.727 | 4.958.101 | ||||||||
1- Due from Shareholders | - | - | |||||||||
2- Due from Affiliates | - | - | |||||||||
3- Due from Subsidiaries | 12.2 | 2.879.090 | 409.036 | ||||||||
4- Due from Entities Under Common Control | - | - | |||||||||
5- Due from Personnel | 49.570 | 92.127 | |||||||||
6- Due from Other Related Parties | 45 | 16.690.067 | 4.456.938 | ||||||||
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 | 11.378.576 | 2.896.526 | ||||||||
1- Leasing Receivables | - | - | |||||||||
2- Unearned Leasing Interest Income (-) | - | - | |||||||||
3- Deposits and Guarantees Given | 32.725 | 32.725 | |||||||||
4- Other Receivables | 11.189.640 | 2.707.590 | |||||||||
5- Discount on Other Receivables (-) | - | - | |||||||||
6- Other Doubtful Receivables | 156.211 | 156.211 | |||||||||
7- Provisions for Other Doubtful Receivables (-) | - | - | |||||||||
F- Prepaid Expenses and Income Accruals | 1.385.437.319 | 498.902.247 | |||||||||
1- Deferred Commission Expenses | 2.20 | 1.033.974.031 | 418.789.340 | ||||||||
2- Accrued Interest and Rent Income | - | - | |||||||||
3- Income Accruals | 45 | 85.109.544 | - | ||||||||
4- Other Prepaid Expenses | 47.1 | 266.353.744 | 80.112.907 | ||||||||
G- Other Current Assets | 47.1 | 2.518.028 | 1.308.631 | ||||||||
1- Stock to be used in following months | - | - | |||||||||
2- Prepaid Taxes and Funds | - | - | |||||||||
3- Deferred Tax Assets | - | - | |||||||||
4- Business Advances | 47.1 | 1.577.949 | 236.941 | ||||||||
5- Advances Given to Personnel | 47.1 | 940.079 | 1.071.690 | ||||||||
6- Stock Count Differences | - | - | |||||||||
7- Other Current Assets | - | - | |||||||||
8- Provision for Other Current Assets (-) | - | - | |||||||||
I- Total Current Asset | 35.431.422.884 | 22.241.390.374 |
1
AgeSA Hayat ve Emeklilik Anonim Şirketi
NON-CONSOLIDATED BALANCE SHEET AS OF 31 DECEMBER 2024 (Amounts expressed in Turkish Lira (TL) unless otherwise stated).
ASSETS
Audited | Audited | ||||||||||
Current Period | Previous Period | ||||||||||
II- NON CURRENT ASSETS | Notes | 31 December 2024 | 31 December 2023 | ||||||||
A- Receivables From Main Operations | 12.1 | 228.692.108.969 | 141.916.400.655 | ||||||||
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 | 679.158.089 | 569.555.420 | ||||||||
7- Provision for Loans to Policyholders (-) | - | - | |||||||||
8- Receivables From Pension Operations | 4,12.1,17.5,17.6,19 | 228.012.950.880 | 141.346.845.235 | ||||||||
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 | 164.351 | 30.379 | ||||||||
1- Leasing Receivables | - | - | |||||||||
2- Unearned Leasing Interest Income (-) | - | - | |||||||||
3- Deposits and Guarantees Given | 12.1 | 164.351 | 30.379 | ||||||||
4- Other Receivables | - | - | |||||||||
5- Discount on Other Receivables (-) | - | - | |||||||||
6- Other Doubtful Receivables | - | - | |||||||||
7- Provisions for Other Doubtful Receivables (-) | - | - | |||||||||
D- Financial Assets | 792.197.252 | 5.738.919 | |||||||||
1- Long-term Investments | - | - | |||||||||
2- Affiliates | - | - | |||||||||
3- Capital Commitments to Affiliates (-) | - | - | |||||||||
4- Subsidiaries | 9,45 | 788.250.000 | 2.000.000 | ||||||||
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 | 3.947.252 | 3.738.919 | ||||||||
10- Impairment on Financial Assets (-) | - | - | |||||||||
E- Tangible Assets | 6.3 | 284.787.967 | 87.923.928 | ||||||||
1- Investment Properties | - | - | |||||||||
2- Impairment on Investment Properties (-) | - | - | |||||||||
3- Owner Occupied Property | - | - | |||||||||
4- Machinery and Equipments | 6.3 | 84.420.287 | 63.503.577 | ||||||||
5- Furnitures and Fixtures | 6.3 | 42.929.981 | 26.531.395 | ||||||||
6- Vehicles | 6.3 | 8.538.700 | 5.870.700 | ||||||||
7- Other Tangible Assets (Including Leasehold Improvements) | 6.3 | 45.196.828 | 13.145.284 | ||||||||
8- Leased Tangible Fixed Assets | 6.3 | 244.041.676 | 51.184.568 | ||||||||
9- Accumulated Depreciation (-) | 6.3 | (140.339.505) | (72.311.596) | ||||||||
10- Advances Paid for Tangible Fixed Assets (Including Construction In Progresses) | - | - | |||||||||
F- Intangible Assets | 8 | 974.806.816 | 549.484.170 | ||||||||
1- Rights | - | - | |||||||||
2- Goodwill | - | - | |||||||||
3- Establishment Costs | - | - | |||||||||
4- Research and Development Expenses | - | - | |||||||||
5- Other Intangible Assets | 8 | 914.916.582 | 706.796.172 | ||||||||
6- Accumulated Amortizations (-) | 8 | (432.965.340) | (286.735.173) | ||||||||
7- Advances Regarding Intangible Assets | 8 | 492.855.574 | 129.423.171 | ||||||||
G- Prepaid Expenses and Income Accruals | 1.368.491 | 4.032.198 | |||||||||
1- Deferred Expenses | - | - | |||||||||
2- Income Accruals | - | - | |||||||||
3- Other Prepaid Expenses and Income Accruals | 47.1 | 1.368.491 | 4.032.198 | ||||||||
H- Other Non-current Assets | 21,35 | 336.941.523 | 168.274.465 | ||||||||
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 | 21,35 | 336.941.523 | 168.274.465 | ||||||||
6- Other Non-current Assets | - | - | |||||||||
7- Other Non-current Assets Amortization (-) | - | - | |||||||||
8- Provision for Other Non-current Assets (-) | - | - | |||||||||
II- Total Non-current Assets | 231.082.375.369 | 142.731.884.714 | |||||||||
Total Assets (I+II) | 266.513.798.253 | 164.973.275.088 |
2
AgeSA Hayat ve Emeklilik Anonim Şirketi
NON-CONSOLIDATED BALANCE SHEET AS OF 31 DECEMBER 2024 (Amounts expressed in Turkish Lira (TL) unless otherwise stated).
LIABILITIES
Audited | Audited | ||||||||||
Current Period | Previous Period | ||||||||||
III- SHORT TERM LIABILITIES | Note | 31 December 2024 | 31 December 2023 | ||||||||
A- Borrowings | 20 | 59.168.889 | 2.985.622 | ||||||||
1- Borrowings from Financial Institutions | - | - | |||||||||
2- Finance Lease Payables | 4,20 | 122.990.097 | 11.052.587 | ||||||||
3- Deferred Finance Lease Costs (-) | 20 | (63.821.208) | (8.066.965) | ||||||||
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 | 2.889.268.832 | 1.836.200.370 | ||||||||
1- Payables From Insurance Operations | 4, 19 | 438.913.735 | 313.933.085 | ||||||||
2- Payables From Reinsurance Operations | - | - | |||||||||
3- Cash Deposited by Insurance & Reinsurance Companies | - | - | |||||||||
4- Payables From Pension Operations | 4,19 | 2.450.355.097 | 1.522.267.285 | ||||||||
5- Payables From Other Operations | - | - | |||||||||
6- Discount on Other Payables From Main Operations, Notes Payable (-) | - | - | |||||||||
C- Due to Related Parties | 4, 19 | 280.354.939 | 60.353.243 | ||||||||
1- Due to Shareholders | 12.2,19 | 3.516.257 | 2.419.707 | ||||||||
2- Due to Affiliates | - | - | |||||||||
3- Due to Subsidiaries | 12.2,19 | 1.534.974 | 1.111.689 | ||||||||
4- Due to Entities Under Common Control | - | - | |||||||||
5- Due to Personnel | 19 | 5.045.202 | 1.792.223 | ||||||||
6- Due to Other Related Parties | 19, 45 | 270.258.506 | 55.029.624 | ||||||||
D- Other Payables | 4,19,47.1 | 130.896.242 | 138.762.043 | ||||||||
1- Guarantees and Deposits Received | 23.327 | 19.464 | |||||||||
2- Medical Treatment Payables to Social Security Institution | - | - | |||||||||
3- Other Payables | 130.872.915 | 138.742.579 | |||||||||
4- Discount on Other Payables (-) | - | - | |||||||||
E- Insurance Technical Reserves | 17.15 | 3.258.822.490 | 1.278.263.655 | ||||||||
1- Unearned Premiums Reserve - Net | 17.15 | 2.656.200.446 | 1.004.626.712 | ||||||||
2- Unexpired Risk Reserves - Net | - | - | |||||||||
3- Life Mathematical Reserves - Net | 17.15 | 347.782.440 | 116.790.231 | ||||||||
4- Outstanding Claims Reserve - Net | 2.20,17.15 | 254.839.604 | 156.846.712 | ||||||||
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 | 638.369.529 | 297.853.106 | |||||||||
1- Taxes and Dues Payable | 255.763.285 | 139.961.687 | |||||||||
2- Social Security Premiums Payable | 52.151.200 | 42.738.596 | |||||||||
3- Overdue, Deferred or By Installment Taxes and Other Liabilities | - | - | |||||||||
4- Other Taxes and Liabilities | - | - | |||||||||
5- Corporate Tax Provision on Period Profit | 35 | 1.199.785.267 | 560.728.698 | ||||||||
6- Advance Taxes and Other Liabilities on Period Profit (-) | 35 | (869.330.223) | (445.575.875) | ||||||||
7- Provisions for Other Taxes and Liabilities | - | - | |||||||||
G- Provisions for Other Risks | 23.2 | 441.033.554 | 236.523.054 | ||||||||
1- Provision for Employee Termination Benefits | - | - | |||||||||
2- Pension Fund Deficit Provision | - | - | |||||||||
3- Provisions for Costs | 23.2 | 441.033.554 | 236.523.054 | ||||||||
H- Deferred Income and Expense Accruals | 19 | 345.639.429 | 152.325.428 | ||||||||
1- Deferred Income | 2.20, 19 | 8.297.894 | 3.285.928 | ||||||||
2- Expense Accruals | 19 | 337.341.535 | 149.039.500 | ||||||||
3- Other Deferred Income and Expense Accruals | - | - | |||||||||
I- Other Short Term Liabilities | 23.2 | 29.821.401 | 17.839.726 | ||||||||
1- Deferred Tax Liability | - | - | |||||||||
2- Inventory Count Differences | - | - | |||||||||
3- Other Short Term Liabilities | 23.2 | 29.821.401 | 17.839.726 | ||||||||
III - Total Short Term Liabilities | 8.073.375.305 | 4.021.106.247 |
3
AgeSA Hayat ve Emeklilik Anonim Şirketi
NON-CONSOLIDATED BALANCE SHEET AS OF 31 DECEMBER 2024 (Amounts expressed in Turkish Lira (TL) unless otherwise stated).
LIABILITIES
Audited | Audited | ||||||||||
Current Period | Previous Period | ||||||||||
IV- LONG TERM LIABILITIES | Notes | 31 December 2024 | 31 December 2023 | ||||||||
A- Borrowings | 20 | 152.318.111 | 38.569.344 | ||||||||
1- Borrowings From Financial Institutions | - | - | |||||||||
2- Finance Lease Payables | 4,20 | 218.843.812 | 70.894.973 | ||||||||
3- Deferred Finance Lease Costs (-) | 20 | (66.525.701) | (32.325.629) | ||||||||
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 | 228.012.950.880 | 141.346.845.235 | ||||||||
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 | 228.012.950.880 | 141.346.845.235 | ||||||||
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 | 24.806.962.720 | 16.529.566.333 | ||||||||
1- Unearned Premiums Reserve - Net | - | - | |||||||||
2- Unexpired Risk Reserves - Net | - | - | |||||||||
3- Life Mathematical Reserves - Net | 17.15 | 24.683.303.577 | 16.456.804.753 | ||||||||
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 | 123.659.143 | 72.761.580 | ||||||||
F- Other Liabilities and Provisions | 30.785.140 | 20.078.368 | |||||||||
1- Other Liabilities | - | - | |||||||||
2- Overdue, Deferred or By Installment Other Liabilities | |||||||||||
- | - | ||||||||||
3- Other Liabilities and Expense Accruals | 30.785.140 | 20.078.368 | |||||||||
G- Provisions for Other Risks | 22 | 97.494.552 | 66.056.065 | ||||||||
1- Provision for Employee Termination Benefits | 22 | 97.494.552 | 66.056.065 | ||||||||
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 | - | - | |||||||||
1- Deferred Tax Liability | - | - | |||||||||
2- Other Long Term Liabilities | - | - | |||||||||
IV- Total Long Term Liabilities | 253.100.511.403 | 158.001.115.345 |
4
AgeSA Hayat ve Emeklilik Anonim Şirketi
NON-CONSOLIDATED BALANCE SHEET AS OF 31 DECEMBER 2024 (Amounts expressed in Turkish Lira (TL) unless otherwise stated).
SHAREHOLDERS' EQUITY
Audited | Audited | ||
Current Period | Previous Period | ||
V- SHAREHOLDERS' EQUITY | Notes | 31 December 2024 | 31 December 2023 |
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 | (99.384.843) | (43.946.321) |
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 | (99.384.843) | (43.946.321) |
C- Profit Reserves | 2.504.692.764 | 1.441.290.765 | |
1- Legal Reserves | 15.2 | 138.339.901 | 109.239.901 |
2- Statutory Reserves | 15.2 | 11.494 | 11.494 |
3- Extraordinary Reserves | 15.2 | 2.383.438.086 | 1.338.829.034 |
4- Special Funds (Reserves) | - | - | |
5- Valuation of Financial Assets | 15.2 | 75.248.129 | 55.579.038 |
6- Other Profit Reserves | 15.2 | (92.344.846) | (62.368.702) |
D- Retained Earning | - | - | |
1- Retained Earnings | - | - | |
E- Previous Years' Losses (-) | - | - | |
1- Previous Years' Losses | - | - | |
F- Net Profit of the Period | 2.754.603.624 | 1.373.709.052 | |
1- Net Profit of the Period | 2.754.603.624 | 1.373.709.052 | |
2- Net Loss of the Period | - | - | |
3- Net Profit of the Period not Subject to Distribution | - | - | |
Total Shareholders' Equity | 5.339.911.545 | 2.951.053.496 | |
Total Liabilities and Shareholders' Equity (III+IV+V) | 266.513.798.253 | 164.973.275.088 |
5
AgeSA Hayat ve Emeklilik Anonim Şirketi
NON-CONSOLIDATED INCOME STATEMENT AS OF 31 DECEMBER 2024 (Amounts expressed in Turkish Lira (TL) unless otherwise stated).
Audited | Audited | ||
Current Period | Previous Period | ||
1 January- | 1 January- | ||
Notes | 31 December 2024 | 31 December 2023 | |
A- Non-Life Technical Income | 181.798.610 | 106.303.719 | |
1- Earned Premiums (Net of Reinsurer Share) | 181.798.610 | 106.303.719 | |
1.1- Premiums (Net of Reinsurer Share) | 5,24 | 230.310.198 | 130.515.717 |
1.1.1- Gross Premiums (+) | 5,24 | 231.203.668 | 130.806.976 |
1.1.2- Ceded Premiums to Reinsurers (-) | 5,10,24 | (893.470) | (291.259) |
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 | (48.511.588) | (24.211.998) |
1.2.1- Unearned Premiums Reserve (-) | 17.15 | (48.501.143) | (24.043.054) |
1.2.2- Reinsurance Share of Unearned Premiums Reserve (+) | 10,17.15 | (10.445) | (168.944) |
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 | - | - | |
3- Other Technical Income (Net of Reinsurer Share) | - | - | |
3.1- Gross Other Technical Income (+) | - | - | |
3.2- Reinsurance Share of Other Technical Income (-) | - | - | |
4. Accrued Subrogation and Sovtage Income (+) | - | - | |
B- Non-Life Technical Expenses (-) | (152.951.246) | (85.462.009) | |
1- Total Claims (Net of Reinsurer Share) | 5 | (7.120.176) | (5.318.786) |
1.1- Claims Paid (Net of Reinsurer Share) | 17.15 | (5.147.158) | (4.733.524) |
1.1.1- Gross Claims Paid (-) | 17.15 | (5.707.544) | (8.075.512) |
1.1.2- Reinsurance Share of Claims Paid (+) | 10,17.15 | 560.386 | 3.341.988 |
1.2- Changes in Outstanding Claims Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) | 17.15,47.4 | (1.973.018) | (585.262) |
1.2.1- Outstanding Claims Reserve (-) | 17.15 | (1.721.243) | (3.568.303) |
1.2.2- Reinsurance Share of Outstanding Claims Reserve (+) | 10,17.15 | (251.775) | 2.983.041 |
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 | (2.434.934) | (1.376.995) |
4- Operating Expenses (-) | 31 | (143.392.193) | (78.758.324) |
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 (-) | (3.943) | (7.904) | |
6.1- Other Gross Technical Expenses (-) | (3.943) | (7.904) | |
6.2- Reinsurer Share of Other Gross Technical Expenses (+) | - | - | |
C- Non Life Technical Profit / (Loss) (A-B) | 28.847.364 | 20.841.710 | |
D- Life Technical Income | 16.215.143.787 | 11.740.496.157 | |
1- Earned Premiums (Net of Reinsurer Share) | 11.947.535.454 | 6.406.100.840 | |
1.1- Premiums (Net of Reinsurer Share) | 5,24 | 13.550.431.214 | 7.175.009.655 |
1.1.1- Gross Premiums (+) | 5,24 | 14.085.844.810 | 7.353.081.090 |
1.1.2- Ceded Premiums to Reinsurers (-) | 5,10,24 | (535.413.596) | (178.071.435) |
1.2- Change in Unearned Premiums Reserve (Net of Reinsurers Shares and Reserves Carried Forward) (+/-) | 5,17.15,47.4 | (1.602.895.760) | (768.908.815) |
1.2.1- Unearned Premiums Reserve (-) | 17.15 | (1.612.332.699) | (768.140.702) |
1.2.2- Reinsurance Share of Unearned Premiums Reserve (+) | 10,17.15 | 9.436.939 | (768.113) |
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 | 4.121.338.283 | 5.108.380.807 |
3- Accrued (Unrealized) Income from Investments | - | - | |
4- Other Technical Income (Net of Reinsurer Share) | 5 | 146.270.050 | 226.014.510 |
4.1- Other Gross Technical Income (+/-) | 5 | 146.270.050 | 226.014.510 |
4.2- Ceded Other Technical Income (+/-) | - | - | |
5. Accrued Subrogation Income (+) | - | - |
6
AgeSA Hayat ve Emeklilik Anonim Şirketi
NON-CONSOLIDATED INCOME STATEMENT AS OF 31 DECEMBER 2024 (Amounts expressed in Turkish Lira (TL) unless otherwise stated).
Audited | Audited | ||
Current Period | Previous Period | ||
1 January- | 1 January- | ||
I- TECHNICAL DIVISION | Notes | 31 December 2024 | 31 December 2023 |
E- Life Technical Expense | (14.455.230.762) | (10.933.641.891) | |
1- Total Claims (Net of Reinsurer Share) | 5 | (1.584.759.663) | (804.312.408) |
1.1- Claims Paid (Net of Reinsurer Share) | 17.15 | (1.488.739.790) | (772.718.667) |
1.1.1- Gross Claims Paid (-) | 17.15 | (1.582.267.168) | (873.114.124) |
1.1.2- Reinsurance Share of Claims Paid (+) | 10,17.15 | 93.527.378 | 100.395.457 |
1.2- Changes in Outstanding Claims Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/- | 17.15,47 | ||
) | .4 | (96.019.873) | (31.593.741) |
1.2.1- Outstanding Claims Reserve (-) | 17.15 | (170.215.169) | (57.089.569) |
1.2.2- Reinsurance Share of Outstanding Claims Reserve (+) | 10,17.15 | 74.195.296 | 25.495.828 |
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) (+/-) | 5,47.4 | (8.479.723.697) | (8.223.879.819) |
3.1- Life Mathematical Reserves | 17.15 | (8.475.185.141) | (8.205.469.204) |
3.1.1- Actuarial Mathematics provision(+/-) | (8.475.185.141) | (8.206.319.574) | |
3.1.2- Dividend Equivalent (Provision for Policyholders Investment Risk.) | - | 850.370 | |
3.2- Reinsurance Share of Life Mathematical Reserves | 10,17.15 | (4.538.556) | (18.410.615) |
3.2.1- Provision of Reinsurance Actuarial Mathematics (+) | 10,17.15 | (4.538.556) | (18.410.615) |
3.2.2- Reinsurer's Share of Profit Share (Provision for Policyholders Investment Risk.) (+) | - | - | |
4- Changes in Technical Reserves for Investments with Risks on Policyholders (Net of Reinsurer Share | 5,17.15, | ||
and Reserves Carried Forward) (+/-) | 47.4 | (48.462.629) | (7.814.139) |
5- Operating Expenses (-) | 31 | (3.644.064.658) | (1.712.952.174) |
6- Investment Expenses (-) | 5,36 | (698.220.115) | (186.877.557) |
7- Unrealized Losses from Investments (-) | - | - | |
8- Investment Income Transferred to Non-Technical Divisions (-) | 5,26 | - | 2.194.206 |
F- Life Technical Profit / (Loss) (D-E) | 1.759.913.025 | 806.854.266 | |
G- Private Pension Technical Income | 25 | 3.792.339.837 | 1.890.273.740 |
1- Fund Management Fee | 25 | 2.623.349.106 | 1.434.808.882 |
2- Management Fee | 25 | 939.982.978 | 392.389.015 |
3- Entrance Fee Income | 25 | 229.007.432 | 63.072.837 |
4- Management Fee In Case Of Temporary Suspension | 25 | 321 | 3.006 |
5- Income from Individual Service Charges | - | - | |
6- Increase in Market Value of Capital Commitment Advances | - | - | |
7- Other Technical Income | - | - | |
H- Private Pension Technical Expenses | (5.129.624.919) | (2.982.944.773) | |
1- Fund Management Expenses (-) | (371.550.428) | (217.814.133) | |
2- Decrease in Market Value of Capital Commitment Advances (-) | - | - | |
3- Operating Expenses (-) | 31 | (4.474.128.674) | (2.613.679.342) |
4- Other Technical Expenses (-) | (262.995.000) | (126.773.385) | |
5- Penalty Payments | (20.950.817) | (24.677.913) | |
I- Private Pension Technical Profit / (Loss) (G-H) | (1.337.285.082) | (1.092.671.033) |
7
AgeSA Hayat ve Emeklilik Anonim Şirketi
NON-CONSOLIDATED INCOME STATEMENT AS OF 31 DECEMBER 2024 (Amounts expressed in Turkish Lira (TL) unless otherwise stated).
Audited | Audited | ||
Current Period | Previous Period | ||
1 January- | 1 January- | ||
II- NON TECHNICAL DIVISION | Notes | 31 December 2024 | 31 December 2023 |
C- Non Life Technical Profit / (Loss) (A-B) | 28.847.364 | 20.841.710 | |
F- Life Technical Profit / (Loss) (D-E) | 1.759.913.025 | 806.854.266 | |
I- Private Pension Technical Profit / (Loss) (G-H) | (1.337.285.082) | (1.092.671.033) | |
J- Total Technical Profit / (Loss) (C+F+I) | 451.475.307 | (264.975.057) | |
K- Investment Income | 3.677.627.457 | 2.420.919.959 | |
1- Income From Financial Investment | 26 | 2.491.550.434 | 1.078.545.868 |
2- Income from Sales of Financial Investments | 26 | 11.219.873 | 178.298.693 |
3- Revaluation of Financial Investments | 27 | 765.132.033 | 300.262.023 |
4- Foreign Exchange Gains | 36 | 407.571.526 | 830.208.195 |
5- Dividend Income from Affiliates | - | - | |
6- Income form Subsidiaries and Entities Under Common Control | 26 | 2.149.991 | 35.000.000 |
7- Income Received from Land and Building | - | - | |
8- Income from Derivatives | 13,26,36 | 3.600 | 799.386 |
9- Other Investments | - | - | |
10- Investment Income transferred from Life Technical Division | 5,26 | - | (2.194.206) |
L- Investment Expenses (-) | (351.039.415) | (299.895.696) | |
1- Investment Management Expenses (Including Interest) (-) | (71.487.411) | (11.707.454) | |
2- Valuation Allowance of Investments (-) | - | - | |
3- Losses On Sales of Investments (-) | (3.822.778) | (30.783.622) | |
4- Investment Income Transferred to Non-Life Technical Division (-) | - | - | |
5- Losses from Derivatives (-) | 13,26,36 | (10.119.130) | (12.581.150) |
6- Foreign Exchange Losses (-) | 36 | (35.833.043) | (107.516.199) |
7- Depreciation Charges (-) | 6.1 | (229.692.161) | (136.860.651) |
8- Other Investment Expenses (-) | 8 | (84.892) | (446.620) |
M- Income and Expenses From Other and Extraordinary Operations (+/-) | |||
169.785.325 | 106.958.890 | ||
1- Provisions (+/-) | (11.303.872) | 1.774.122 | |
2- Discounts (+/-) | - | - | |
3- Specialty Insurances (+/-) | - | - | |
4- Inflation Adjustment (+/-) | - | - | |
5- Deferred Tax Asset (+/-) | 35,47.4 | 209.291.504 | 141.657.218 |
6- Deferred Tax Liability Accounts (+/-) | - | - | |
7- Other Income and Revenues | 47.1 | 165.874.602 | 108.840.546 |
8- Other Expenses and Losses (-) | 47.1 | (223.905.447) | (133.392.869) |
9- Prior Period Income | 47.3 | 37.605.516 | 13.605.326 |
10- Prior Period Losses (-) | 47.3 | (7.776.978) | (25.525.453) |
N- Net Profit / (Loss) | 2.754.603.624 | 1.373.709.052 | |
1- Profit / (Loss) Before Tax | 3.947.848.674 | 1.963.008.096 | |
2- Corporate Tax Charge and Other Fiscal Liabilities (-) | 35,47.4 | (1.193.245.050) | (589.299.044) |
3- Net Profit / (Loss) | 2.754.603.624 | 1.373.709.052 | |
4- Inflation Adjustment Account (+/-) | - | - |
8
AgeSA Hayat ve Emeklilik Anonim Şirketi
NON-CONSOLIDATED CASH FLOWS AS OF 31 DECEMBER 2024 (Amounts expressed in Turkish Lira (TL) unless otherwise stated).
Audited | Audited | |||
Current Period | Previous Period | |||
1 January- | 1 January- | |||
Notes | 31 December 2024 | 31 December 2023 | ||
A. Cash Flows from the Operating Activities | - | - | ||
1. | Cash inflows from the insurance operations | 14.237.332.224 | 7.467.612.206 | |
2. | Cash inflows from the reinsurance operations | - | - | |
3. | Cash inflows from the pension operations | 63.414.908.438 | 33.306.916.109 | |
4. | Cash outflows due to the insurance operations (-) | (5.410.846.428) | (2.935.815.195) | |
5. | Cash outflows due to the reinsurance operations (-) | - | - | |
6. | Cash outflows due to the pension operations (-) | (58.718.461.816) | (30.803.480.064) | |
7. | Cash generated from the operating activities (A1+A2+A3-A4-A5-A6) | 13.522.932.418 | 7.035.233.056 | |
8. | Interest payments (-) | - | - | |
9. | Income tax payments (-) | (941.821.626) | (451.025.771) | |
10. Other cash inflows | 230.033.052 | 47.861.958 | ||
11. Other cash outflows (-) | (5.633.192.400) | (2.733.519.495) | ||
12. Net cash generated from / (used in) operating activities | 7.177.951.444 | 3.898.549.748 | ||
B. Cash flows from the investing activities | - | - | ||
1. | Sale of tangible assets | 3.783.610 | 189.371 | |
2. | Purchase of tangible assets (-) | 6.3.1 | (650.305.880) | (380.012.141) |
3. | Acquisition of financial assets (-) | 11.4 | (12.608.371.929) | (9.762.251.629) |
4. | Sale of financial assets | 7.488.263.264 | 5.929.982.730 | |
5. | Interest received | 2.606.636.917 | 1.305.593.752 | |
6. | Dividends received | - | 35.000.000 | |
7. | Other cash inflows | - | - | |
8. | Other cash outflows (-) | 9 | (786.250.000) | - |
9. | Net cash generated from / (used in) the investing activities | (3.946.244.018) | (2.871.497.917) | |
C. Cash flows from the financing activities | - | - | ||
1. | Issue of equity shares | - | - | |
2. | Cash inflows from borrowings | - | - | |
3. | Payments of financial leases (-) | 20 | (99.941.078) | (12.094.488) |
4. | Dividends paid (-) | (281.809.142) | (141.112.764) | |
5. | Other cash inflows | - | - | |
6. | Other cash outflows (-)- | (55.438.522) | (44.783.416) | |
7. | Cash generated from / (used in) the financing activities | (437.188.742) | (197.990.668) | |
D. Effects of Exchange Rate Differences on Cash and Cash Equivalents | (2.643.175) | 43.166.561 | ||
E. Net increase / (decrease) in cash and cash equivalents (A12+B9+C7+D) | 2.791.875.509 | 872.227.724 | ||
F. Cash and cash equivalents at the beginning of the period | 2.12 | 1.949.761.321 | 1.077.533.597 | |
G. Cash and cash equivalents at the end of period (E+F) | 2.12 | 4.741.636.830 | 1.949.761.321 |
9
AgeSA Hayat ve Emeklilik Anonim Şirketi
NON-CONSOLIDATED SHAREHOLDERS' EQUITY AS OF 31 DECEMBER 2024 (Amounts expressed in Turkish Lira (TL) unless otherwise stated).
Audited Current Period | ||||||||||||||||||||||||||||||||||||||||||||
CURRENT PERIOD | 1 January-31 December 2024 | |||||||||||||||||||||||||||||||||||||||||||
Inflation | Exchange | Other | ||||||||||||||||||||||||||||||||||||||||||
Investment | Adjustment to | Differences Arising | Reserves and | Net Profit / | Previous | |||||||||||||||||||||||||||||||||||||||
Treasury | Revaluation | Shareholders' | on Translation of | Legal | Statutory | Retained | (Loss) for the | Periods'Profits / | ||||||||||||||||||||||||||||||||||||
Capital | Shares | Reserve | Equity | Foreign Operations | Reserves | Reserves | Earnings | Period | (Losses) (-) | Total | ||||||||||||||||||||||||||||||||||
I- Balance at (31/12/2023) | 180.000.000 | (44.783.416) | 55.579.038 | - | - | 109.239.901 | 11.494 | 1.277.297.427 | 1.373.709.052 | - | 2.951.053.496 | |||||||||||||||||||||||||||||||||
A- Capital increase (A1 + A2) | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||
1- Cash | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||
2- Internal Resources | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||
B- Purchase of own shares | - | (55.438.522) | - | - | - | - | - | - | - | - | (55.438.522) | |||||||||||||||||||||||||||||||||
C- Income / (expenses) recognized directly in equity | - | - | - | - | - | - | - | (29.976.144) | - | - | (29.976.144) | |||||||||||||||||||||||||||||||||
D- Valuation gains on assets | - | - | 19.669.091 | - | - | - | - | - | - | - | 19.669.091 | |||||||||||||||||||||||||||||||||
E- Exchange difference arising on translation of foreign | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||
operations | ||||||||||||||||||||||||||||||||||||||||||||
F- Other income / (expenses) | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||
G- Inflation adjustments | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||
H- Net profit for the period | - | - | - | - | - | - | - | - | 2.754.603.624 | - | 2.754.603.624 | |||||||||||||||||||||||||||||||||
I- Payment of dividends | - | - | - | - | - | - | - | - | (300.000.000) | - | (300.000.000) | |||||||||||||||||||||||||||||||||
J- Transfers | - | - | - | - | - | 29.100.000 | - | 1.044.609.052 | (1.073.709.052) | - | - | |||||||||||||||||||||||||||||||||
IV- Balance at (31/12/2024) | 180.000.000 | (100.221.938) | 75.248.129 | - | - | 138.339.901 | 11.494 | 2.291.930.335 | 2.754.603.624 | - | 5.339.911.545 | |||||||||||||||||||||||||||||||||
(III+A+B+C+D+E+F+G+H+I+J) | ||||||||||||||||||||||||||||||||||||||||||||
Audited Previous Period | ||||||||||||||||||||||||||||||||||||||||||||
1 January-31 December 2023 | ||||||||||||||||||||||||||||||||||||||||||||
Exchange | ||||||||||||||||||||||||||||||||||||||||||||
Differences | ||||||||||||||||||||||||||||||||||||||||||||
Inflation | Arising on | Other | ||||||||||||||||||||||||||||||||||||||||||
Investment | Adjustment to | Translation of | Reserves and | Net Profit / | Previous Periods' | |||||||||||||||||||||||||||||||||||||||
Treasury | Revaluation | Shareholders' | Foreign | Legal | Statutory | Retained | (Loss) for the | Profits / (Losses) | ||||||||||||||||||||||||||||||||||||
Capital | Shares | Reserve | Equity | Operations | Reserves | Reserves | Earnings | Period | (-) | Total | ||||||||||||||||||||||||||||||||||
I- Balance at (31/12/2022) | 180.000.000 | - | (12.366.535) | - | - | 95.139.901 | 11.494 | 594.011.931 | 834.036.068 | - | 1.690.832.859 | |||||||||||||||||||||||||||||||||
A- Capital increase (A1 + A2) | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||
1- Cash | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||
2- Internal Resources | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||
B- Purchase of own shares | - | (44.783.416) | - | - | - | - | - | - | - | - | (44.783.416) | |||||||||||||||||||||||||||||||||
C- Income / (expenses) recognized directly in equity | - | - | - | - | - | - | - | 13.349.428 | - | - | 13.349.428 | |||||||||||||||||||||||||||||||||
D- Valuation gains on assets | - | - | 67.945.573 | - | - | - | - | - | - | - | 67.945.573 | |||||||||||||||||||||||||||||||||
E- Exchange difference arising on translation of foreign | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||
operations | ||||||||||||||||||||||||||||||||||||||||||||
F- Other income / (expenses) | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||
G- Inflation adjustments | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||
H- Net profit for the period | - | - | - | - | - | - | - | - | 1.373.709.052 | - | 1.373.709.052 | |||||||||||||||||||||||||||||||||
I- Payment of dividends | - | - | - | - | - | - | - | - | (150.000.000) | - | (150.000.000) | |||||||||||||||||||||||||||||||||
J- Transfers | - | - | - | - | - | 14.100.000 | - | 669.936.068 | (684.036.068) | - | - | |||||||||||||||||||||||||||||||||
IV- Balance at (31/12/2023) | 180.000.000 | (44.783.416) | 55.579.038 | - | - | 109.239.901 | 11.494 | 1.277.297.427 | 1.373.709.052 | - | 2.951.053.496 | |||||||||||||||||||||||||||||||||
(III+A+B+C+D+E+F+G+H+I+J) | ||||||||||||||||||||||||||||||||||||||||||||
10