ASSETS | |||
I- CURRENT ASSETS | Notes | Audited Current Period | Audited Previous Period |
31 December 2025 | 31 December 2024 | ||
A- Cash and Cash Equivalents | 2.12, 14 | 6.676.805.376 | 4.908.818.545 |
1- Cash | - | - | |
2- Cheques Received | - | - | |
3- Banks | 2.12, 14 | 2.812.204.814 | 2.511.214.022 |
4- Cheques Given and Payment Orders (-) | 2.12, 14 | - | (2.075.657) |
5- Bank Guaranteed Credit Card Receivables with Maturities Less Than Three Months | 2.12, 14 | 3.864.600.562 | 2.399.680.180 |
6- Other Cash and Cash Equivalents | - | - | - |
B- Financial Assets and Investments with Risks on Policyholders | 4,11.4 | 47.155.662.848 | 28.845.045.335 |
1- Financial Assets Available for Sale | 4,11.4 | 3.879.371.873 | 2.814.406.369 |
2- Financial Assets Held to Maturity | 4,11.4 | 1.816.492.078 | 928.889.038 |
3- Financial Assets Held for Trading | 4,11.4 | 5.306.485.859 | 2.151.259.530 |
4- Loans | - | - | |
5- Provision for Loans (-) | - | - | |
6- Investments with Risks on Policyholders | 4,11.4 | 36.153.313.038 | 22.950.490.398 |
7- Equity Shares | - | - | |
8- Impairment on Financial Assets (-) | - | - | |
C- Receivables From Main Operations | 12.1 | 401.069.190 | 258.606.354 |
1- Receivables From Insurance Operations | 12.1 | 206.816.479 | 141.140.857 |
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 | 194.252.711 | 117.465.497 |
9- Doubtful Receivables From Main Operations | - | - | |
10- Provisions for Doubtful Receivables From Main Operations (-) | - | - | |
D- Due from Related Parties | 12.1 | 110.937.642 | 19.618.727 |
1- Due from Shareholders | - | - | |
2- Due from Affiliates | - | - | |
3- Due from Subsidiaries | 12.2 | 5.602.908 | 2.879.090 |
4- Due from Entities Under Common Control | - | - | |
5- Due from Personnel | 78.224 | 49.570 | |
6- Due from Other Related Parties | 45 | 105.256.510 | 16.690.067 |
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 | 35.781.798 | 11.378.576 |
1- Leasing Receivables | - | - | |
2- Unearned Leasing Interest Income (-) | - | - | |
3- Deposits and Guarantees Given | 32.725 | 32.725 | |
4- Other Receivables | 35.599.108 | 11.189.640 | |
5- Discount on Other Receivables (-) | - | - | |
6- Other Doubtful Receivables | 149.965 | 156.211 | |
7- Provisions for Other Doubtful Receivables (-) | - | - | |
F- Prepaid Expenses and Income Accruals | 1.722.697.217 | 1.385.437.319 | |
1- Deferred Commission Expenses | 2.20 | 1.562.251.760 | 1.033.974.031 |
2- Accrued Interest and Rent Income | - | - | |
3- Income Accruals | 45 | - | 85.109.544 |
4- Other Prepaid Expenses | 47.1 | 160.445.457 | 266.353.744 |
G- Other Current Assets | 47.1 | 2.118.371 | 2.518.028 |
1- Stock to be used in following months | - | - | |
2- Prepaid Taxes and Funds | - | - | |
3- Deferred Tax Assets | - | - | |
4- Business Advances | 47.1 | 915.850 | 1.577.949 |
5- Advances Given to Personnel | 47.1 | 1.202.521 | 940.079 |
6- Stock Count Differences | - | - | |
7- Other Current Assets | - | - | |
8- Provision for Other Current Assets (-) | - | - | |
I- Total Current Asset | 56.105.072.442 | 35.431.422.884 | |
ASSETS | |||
II- NON CURRENT ASSETS | Notes | Audited Current Period | Audited Previous Period |
31 December 2025 | 31 December 2024 | ||
A- Receivables From Main Operations | 12.1 | 402.132.019.806 | 228.692.108.969 |
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 | 790.128.263 | 679.158.089 |
7- Provision for Loans to Policyholders (-) | - | - | |
8- Receivables From Pension Operations | 17.5,17.6,19 | 401.341.891.543 | 228.012.950.880 |
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 | 861.412 | 164.351 |
1- Leasing Receivables | - | - | |
2- Unearned Leasing Interest Income (-) | - | - | |
3- Deposits and Guarantees Given | 12.1 | 861.412 | 164.351 |
4- Other Receivables | - | - | |
5- Discount on Other Receivables (-) | - | - | |
6- Other Doubtful Receivables | - | - | |
7- Provisions for Other Doubtful Receivables (-) | - | - | |
D- Financial Assets | 1.442.419.473 | 792.197.252 | |
1- Long-term Investments | - | - | |
2- Affiliates | - | - | |
3- Capital Commitments to Affiliates (-) | - | - | |
4- Subsidiaries | 9 | 1.438.250.000 | 788.250.000 |
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 | 4.169.473 | 3.947.252 |
10- Impairment on Financial Assets (-) | - | - | |
E- Tangible Assets | 6.3 | 850.784.428 | 284.787.967 |
1- Investment Properties | - | - | |
2- Impairment on Investment Properties (-) | - | - | |
3- Owner Occupied Property | - | - | |
4- Machinery and Equipments | 6.3 | 224.829.703 | 84.420.287 |
5- Furnitures and Fixtures | 6.3 | 170.501.760 | 42.929.981 |
6- Vehicles | 6.3 | 4.456.101 | 8.538.700 |
7- Other Tangible Assets (Including Leasehold Improvements) | 6.3 | 354.773.557 | 45.196.828 |
8- Leased Tangible Fixed Assets | 6.3 | 393.727.557 | 244.041.676 |
9- Accumulated Depreciation (-) | 6.3 | (297.504.250) | (140.339.505) |
10- Advances Paid for Tangible Fixed Assets (Including Construction In Progresses) | - | - | |
F- Intangible Assets | 8 | 1.598.345.738 | 974.806.816 |
1- Rights | - | - | |
2- Goodwill | - | - | |
3- Establishment Costs | - | - | |
4- Research and Development Expenses | - | - | |
5- Other Intangible Assets | 8 | 1.871.502.220 | 914.916.582 |
6- Accumulated Amortizations (-) | 8 | (647.347.494) | (432.965.340) |
7- Advances Regarding Intangible Assets | 8 | 374.191.012 | 492.855.574 |
G- Prepaid Expenses and Income Accruals | 2.786.271 | 1.368.491 | |
1- Deferred Expenses | - | - | |
2- Income Accruals | - | - | |
3- Other Prepaid Expenses and Income Accruals | 47.1 | 2.786.271 | 1.368.491 |
H- Other Non-current Assets | 21 | 339.851.317 | 336.941.523 |
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 | 339.851.317 | 336.941.523 |
6- Other Non-current Assets | - | - | |
7- Other Non-current Assets Amortization (-) | - | - | |
8- Provision for Other Non-current Assets (-) | - | - | |
II- Total Non-current Assets | 406.367.068.445 | 231.082.375.369 | |
Total Assets (I+II) | 462.472.140.887 | 266.513.798.253 |
LIABILITIES | |||
III- SHORT TERM LIABILITIES | Note | Audited Current Period | Audited Previous Period |
31 December 2025 | 31 December 2024 | ||
A- Borrowings | 20 | 112.595.417 | 59.168.889 |
1- Borrowings from Financial Institutions | - | - | |
2- Finance Lease Payables | 4,20 | 201.798.247 | 122.990.097 |
3- Deferred Finance Lease Costs (-) | 20 | (89.202.830) | (63.821.208) |
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 | 5.063.791.072 | 2.889.268.832 |
1- Payables From Insurance Operations | 4, 19 | 967.678.474 | 438.913.735 |
2- Payables From Reinsurance Operations | - | - | |
3- Cash Deposited by Insurance & Reinsurance Companies | - | - | |
4- Payables From Pension Operations | 4,19 | 4.096.112.598 | 2.450.355.097 |
5- Payables From Other Operations | - | - | |
6- Discount on Other Payables From Main Operations, Notes Payable (-) | - | - | |
C- Due to Related Parties | 4, 19 | 169.811.615 | 280.354.939 |
1- Due to Shareholders | 12.2,19 | 1.793.615 | 3.516.257 |
2- Due to Affiliates | - | - | |
3- Due to Subsidiaries | 12.2,19 | - | 1.534.974 |
4- Due to Entities Under Common Control | - | - | |
5- Due to Personnel | 19 | 7.384.835 | 5.045.202 |
6- Due to Other Related Parties | 19, 45 | 160.633.165 | 270.258.506 |
D- Other Payables | 4,19,47.1 | 187.129.886 | 130.896.242 |
1- Guarantees and Deposits Received | 28.329 | 23.327 | |
2- Medical Treatment Payables to Social Security Institution | - | - | |
3- Other Payables | 187.101.557 | 130.872.915 | |
4- Discount on Other Payables (-) | - | - | |
E- Insurance Technical Reserves | 17.15 | 5.311.162.148 | 3.258.822.490 |
1- Unearned Premiums Reserve - Net | 17.15 | 3.574.573.337 | 2.656.200.446 |
2- Unexpired Risk Reserves - Net | - | - | |
3- Life Mathematical Reserves - Net | 17.15 | 1.271.911.198 | 347.782.440 |
4- Outstanding Claims Reserve - Net | 2.20,17.15 | 464.677.613 | 254.839.604 |
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 | 929.288.988 | 638.369.529 | |
1- Taxes and Dues Payable | 449.315.828 | 255.763.285 | |
2- Social Security Premiums Payable | 77.916.428 | 52.151.200 | |
3- Overdue, Deferred or By Installment Taxes and Other Liabilities | - | - | |
4- Other Taxes and Liabilities | - | - | |
5- Corporate Tax Provision on Period Profit | 35 | 2.203.296.514 | 1.199.785.267 |
6- Advance Taxes and Other Liabilities on Period Profit (-) | 35 | (1.801.239.782) | (869.330.223) |
7- Provisions for Other Taxes and Liabilities | - | - | |
G- Provisions for Other Risks | 23.2 | 697.311.569 | 441.033.554 |
1- Provision for Employee Termination Benefits | - | - | |
2- Pension Fund Deficit Provision | - | - | |
3- Provisions for Costs | 23.2 | 697.311.569 | 441.033.554 |
H- Deferred Income and Expense Accruals | 19 | 349.491.069 | 345.639.429 |
1- Deferred Income | 2.20, 19 | 15.446.561 | 8.297.894 |
2- Expense Accruals | 19 | 334.044.508 | 337.341.535 |
3- Other Deferred Income and Expense Accruals | - | - | |
I- Other Short Term Liabilities | 23.2 | 70.226.073 | 29.821.401 |
1- Deferred Tax Liability | - | - | |
2- Inventory Count Differences | - | - | |
3- Other Short Term Liabilities | 23.2 | 70.226.073 | 29.821.401 |
III - Total Short Term Liabilities | 12.890.807.837 | 8.073.375.305 | |
LIABILITIES | |||
IV- LONG TERM LIABILITIES | Notes | Audited Current Period | Audited Previous Period |
31 December 2025 | 31 December 2024 | ||
A- Borrowings | 20 | 196.716.724 | 152.318.111 |
1- Borrowings From Financial Institutions | - | - | |
2- Finance Lease Payables | 4,20 | 428.614.667 | 218.843.812 |
3- Deferred Finance Lease Costs (-) | 20 | (231.897.943) | (66.525.701) |
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 | 401.341.891.543 | 228.012.950.880 |
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 | 401.341.891.543 | 228.012.950.880 |
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 | 38.184.104.164 | 24.806.962.720 |
1- Unearned Premiums Reserve - Net | - | - | |
2- Unexpired Risk Reserves - Net | - | - | |
3- Life Mathematical Reserves - Net | 17.15 | 37.973.565.061 | 24.683.303.577 |
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 | 210.539.103 | 123.659.143 |
F- Other Liabilities and Provisions | 54.047.586 | 30.785.140 | |
1- Other Liabilities | - | - | |
2- Overdue, Deferred or By Installment Other Liabilities | - | - | |
3- Other Liabilities and Expense Accruals | 54.047.586 | 30.785.140 | |
G- Provisions for Other Risks | 22 | 228.965.078 | 97.494.552 |
1- Provision for Employee Termination Benefits | 22 | 228.965.078 | 97.494.552 |
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 | 440.005.725.095 | 253.100.511.403 | |
SHAREHOLDERS' EQUITY | |||
V- SHAREHOLDERS' EQUITY | Notes | Autide Current Period | Audited Previous Period |
31 December 2025 | 31 December 2024 | ||
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 | (113.005.243) | (99.384.843) |
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 | (113.005.243) | (99.384.843) |
C- Profit Reserves | 4.358.734.507 | 2.504.692.764 | |
1- Legal Reserves | 15.2 | 237.439.901 | 138.339.901 |
2- Statutory Reserves | 15.2 | 11.494 | 11.494 |
3- Extraordinary Reserves | 15.2 | 4.038.941.710 | 2.383.438.086 |
4- Special Funds (Reserves) | - | - | |
5- Valuation of Financial Assets | 15.2 | 246.906.378 | 75.248.129 |
6- Other Profit Reserves | 15.2 | (164.564.976) | (92.344.846) |
D- Retained Earning | - | - | |
1- Retained Earnings | - | - | |
E- Previous Years' Losses (-) | - | - | |
1- Previous Years' Losses | - | - | |
F- Net Profit of the Period | 5.149.878.691 | 2.754.603.624 | |
1- Net Profit of the Period | 5.149.878.691 | 2.754.603.624 | |
2- Net Loss of the Period | - | - | |
3- Net Profit of the Period not Subject to Distribution | - | - | |
Total Shareholders' Equity | 9.575.607.955 | 5.339.911.545 | |
Total Liabilities and Shareholders' Equity (III+IV+V) | 462.472.140.887 | 266.513.798.253 | |
Notes | Audited Current Period | Audited Previous Period | |
1 January- 31 December 2025 | 1 January- 31 December 2024 | ||
A- Non-Life Technical Income | 259.198.219 | 181.798.610 | |
1- Earned Premiums (Net of Reinsurer Share) | 259.198.219 | 181.798.610 | |
1.1- Premiums (Net of Reinsurer Share) | 5,24 | 290.796.218 | 230.310.198 |
1.1.1- Gross Premiums (+) | 5,24 | 297.255.693 | 231.203.668 |
1.1.2- Ceded Premiums to Reinsurers (-) | 5,10,24 | (6.459.475) | (893.470) |
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 | (31.597.999) | (48.511.588) |
1.2.1- Unearned Premiums Reserve (-) | 17.15 | (36.154.714) | (48.501.143) |
1.2.2- Reinsurance Share of Unearned Premiums Reserve (+) | 10, 17.15 | 4.556.715 | (10.445) |
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 (-) | (203.884.736) | (152.951.246) | |
1- Total Claims (Net of Reinsurer Share) | 5 | (4.061.599) | (7.120.176) |
1.1- Claims Paid (Net of Reinsurer Share) | 17.15 | (6.314.862) | (5.147.158) |
1.1.1- Gross Claims Paid (-) | 17.15 | (6.794.116) | (5.707.544) |
1.1.2- Reinsurance Share of Claims Paid (+) | 10, 17.15 | 479.254 | 560.386 |
1.2- Changes in Outstanding Claims Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) | 17.15,47.4 | 2.253.263 | (1.973.018) |
1.2.1- Outstanding Claims Reserve (-) | 17.15 | 2.286.522 | (1.721.243) |
1.2.2- Reinsurance Share of Outstanding Claims Reserve (+) | 10, 17.15 | (33.259) | (251.775) |
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 | (2.976.136) | (2.434.934) |
4- Operating Expenses (-) | 31 | (196.843.592) | (143.392.193) |
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 (-) | (3.409) | (3.943) | |
6.1- Other Gross Technical Expenses (-) | (3.409) | (3.943) | |
6.2- Reinsurer Share of Other Gross Technical Expenses (+) | - | - | |
C- Non Life Technical Profit / (Loss) (A-B) | 55.313.483 | 28.847.364 | |
D- Life Technical Income | 28.395.664.839 | 16.215.143.787 | |
1- Earned Premiums (Net of Reinsurer Share) | 22.554.618.415 | 11.947.535.454 | |
1.1- Premiums (Net of Reinsurer Share) | 5,24 | 23.441.393.307 | 13.550.431.214 |
1.1.1- Gross Premiums (+) | 5,24 | 24.073.963.541 | 14.085.844.810 |
1.1.2- Ceded Premiums to Reinsurers (-) | 5,10,24 | (632.570.234) | (535.413.596) |
1.2- Change in Unearned Premiums Reserve (Net of Reinsurers Shares and Reserves Carried Forward) (+/-) | 5,17.15, 47.4 | (886.774.892) | (1.602.895.760) |
1.2.1- Unearned Premiums Reserve (-) | 17.15 | (892.672.096) | (1.612.332.699) |
1.2.2- Reinsurance Share of Unearned Premiums Reserve (+) | 10, 17.15 | 5.897.204 | 9.436.939 |
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 | 5.661.053.932 | 4.121.338.283 |
3- Accrued (Unrealized) Income from Investments | - | - | |
4- Other Technical Income (Net of Reinsurer Share) | 5 | 179.992.492 | 146.270.050 |
4.1- Other Gross Technical Income (+/-) | 5 | 179.992.492 | 146.270.050 |
4.2- Ceded Other Technical Income (+/-) | - | - | |
5. Accrued Subrogation Income (+) | - | - |
I- TECHNICAL DIVISION | Notes | Audited Current Period | Audited Previous Period |
1 January- 31 December 2025 | 1 January- 31 December 2024 | ||
E- Life Technical Expense | (24.185.501.543) | (14.455.230.762) | |
1- Total Claims (Net of Reinsurer Share) | 5 | (3.368.527.906) | (1.584.759.663) |
1.1- Claims Paid (Net of Reinsurer Share) | 17.15 | (3.156.436.633) | (1.488.739.790) |
1.1.1- Gross Claims Paid (-) | 17.15 | (3.382.539.563) | (1.582.267.168) |
1.1.2- Reinsurance Share of Claims Paid (+) | 10,17.15 | 226.102.930 | 93.527.378 |
1.2- Changes in Outstanding Claims Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) | 17.15,47.4 | (212.091.273) | (96.019.873) |
1.2.1- Outstanding Claims Reserve (-) | 17.15 | (334.339.286) | (170.215.169) |
1.2.2- Reinsurance Share of Outstanding Claims Reserve (+) | 10,17.15 | 122.248.013 | 74.195.296 |
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 | (13.988.369.569) | (8.479.723.697) |
3.1- Life Mathematical Reserves | 17.15 | (13.994.604.203) | (8.475.185.141) |
3.1.1- Actuarial Mathematics provision(+/-) | (13.994.604.203) | (8.475.185.141) | |
3.1.2- Dividend Equivalent (Provision for Policyholders Investment Risk.) | - | - | |
3.2- Reinsurance Share of Life Mathematical Reserves | 10, 17.15 | 6.234.634 | (4.538.556) |
3.2.1- Provision of Reinsurance Actuarial Mathematics (+) | 10, 17.15 | 6.234.634 | (4.538.556) |
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 and Reserves Carried Forward) (+/-) | 5,17.15,47. 4 | (83.903.823) | (48.462.629) |
5- Operating Expenses (-) | 31 | (6.742.740.826) | (3.644.064.658) |
6- Investment Expenses (-) | 5,36 | (1.959.419) | (698.220.115) |
7- Unrealized Losses from Investments (-) | - | - | |
8- Investment Income Transferred to Non-Technical Divisions (-) | - | - | |
F- Life Technical Profit / (Loss) (D-E) | 4.210.163.296 | 1.759.913.025 | |
G- Private Pension Technical Income | 25 | 5.739.368.886 | 3.792.339.837 |
1- Fund Management Fee | 25 | 3.815.090.391 | 2.623.349.106 |
2- Management Fee | 25 | 1.530.003.540 | 939.982.978 |
3- Entrance Fee Income | 25 | 391.496.171 | 229.007.432 |
4- Management Fee In Case Of Temporary Suspension | 25 | - | 321 |
5- Income from Individual Service Charges | - | - | |
6- Increase in Market Value of Capital Commitment Advances | 25 | 2.778.784 | - |
7- Other Technical Income | - | - | |
H- Private Pension Technical Expenses | (7.605.834.293) | (5.129.624.919) | |
1- Fund Management Expenses (-) | (502.744.064) | (371.550.428) | |
2- Decrease in Market Value of Capital Commitment Advances (-) | (291.276) | - | |
3- Operating Expenses (-) | 31 | (6.632.713.007) | (4.474.128.674) |
4- Other Technical Expenses (-) | (403.031.626) | (262.995.000) | |
5- Penalty Payments | (67.054.320) | (20.950.817) | |
I- Private Pension Technical Profit / (Loss) (G-H) | (1.866.465.407) | (1.337.285.082) |
II- NON TECHNICAL DIVISION | Notes | Audited Current Period | Audited Previous Period |
1 January- 31 December 2024 | 1 January- 31 December 2023 | ||
C- Non Life Technical Profit / (Loss) (A-B) | 55.313.483 | 28.847.364 | |
F- Life Technical Profit / (Loss) (D-E) | 4.210.163.296 | 1.759.913.025 | |
I- Private Pension Technical Profit / (Loss) (G-H) | (1.866.465.407) | (1.337.285.082) | |
J- Total Technical Profit / (Loss) (C+F+I) | 2.399.011.372 | 451.475.307 | |
K- Investment Income | 5.616.976.556 | 3.677.627.457 | |
1- Income From Financial Investment | 26 | 4.021.726.187 | 2.491.550.434 |
2- Income from Sales of Financial Investments | 26 | 60.368.980 | 11.219.873 |
3- Revaluation of Financial Investments | 27 | 894.100.691 | 765.132.033 |
4- Foreign Exchange Gains | 36 | 541.918.279 | 407.571.526 |
5- Dividend Income from Affiliates | - | - | |
6- Income form Subsidiaries and Entities Under Common Control | 26 | 97.310.419 | 2.149.991 |
7- Income Received from Land and Building | - | - | |
8- Income from Derivatives | 13,26,36 | 1.552.000 | 3.600 |
9- Other Investments | - | - | |
10- Investment Income transferred from Life Technical Division | - | - | |
L- Investment Expenses (-) | (598.704.761) | (351.039.415) | |
1- Investment Management Expenses (Including Interest) (-) | (124.634.999) | (71.487.411) | |
2- Valuation Allowance of Investments (-) | - | - | |
3- Losses On Sales of Investments (-) | (6.473.784) | (3.822.778) | |
4- Investment Income Transferred to Non-Life Technical Division (-) | - | - | |
5- Losses from Derivatives (-) | 13,26,36 | (24.513.100) | (10.119.130) |
6- Foreign Exchange Losses (-) | 36 | (52.055.304) | (35.833.043) |
7- Depreciation Charges (-) | 6.1 | (390.429.728) | (229.692.161) |
8- Other Investment Expenses (-) | (597.846) | (84.892) | |
M- Income and Expenses From Other and Extraordinary Operations (+/-) | (173.665.099) | 120.300.407 | |
1- Provisions (+/-) | (92.119.446) | (11.303.872) | |
2- Discounts (+/-) | - | - | |
3- Specialty Insurances (+/-) | - | - | |
4- Inflation Adjustment (+/-) | - | - | |
5- Deferred Tax Asset (+/-) | 35,47.4 | 41.999.390 | 159.806.586 |
6- Deferred Tax Liability Accounts (+/-) | - | - | |
7- Other Income and Revenues | 47.1 | 326.652.154 | 165.874.602 |
8- Other Expenses and Losses (-) | 47.1 | (457.455.753) | (223.905.447) |
9- Prior Period Income | 47.3 | 33.317.499 | 37.605.516 |
10- Prior Period Losses (-) | 47.3 | (26.058.943) | (7.776.978) |
N- Net Profit / (Loss) | 5.149.878.691 | 2.754.603.624 | |
1- Profit / (Loss) Before Tax | 7.243.618.068 | 3.898.363.756 | |
2- Corporate Tax Charge and Other Fiscal Liabilities (-) | 35,47.4 | (2.093.739.377) | (1.143.760.132) |
3- Net Profit / (Loss) | 5.149.878.691 | 2.754.603.624 | |
4- Inflation Adjustment Account (+/-) | - | - |
Notes | Audited Current Period | Audited Previous Period | |
1 January- 31 December 2025 | 1 January- 31 December 2024 | ||
A. Cash Flows from the Operating Activities | - | - | |
1. Cash inflows from the insurance operations | 24.311.929.922 | 14.237.332.224 | |
2. Cash inflows from the reinsurance operations | - | - | |
3. Cash inflows from the pension operations | 99.659.693.313 | 63.414.908.438 | |
4. Cash outflows due to the insurance operations (-) | (10.028.818.975) | (5.410.846.428) | |
5. Cash outflows due to the reinsurance operations (-) | - | - | |
6. Cash outflows due to the pension operations (-) | (91.656.831.282) | (58.718.461.816) | |
7. Cash generated from the operating activities (A1+A2+A3-A4-A5-A6) | 22.285.972.978 | 13.522.932.418 | |
8. Interest payments (-) | - | - | |
9. Income tax payments (-) | (2.030.011.781) | (941.821.626) | |
10. Other cash inflows | 276.918.996 | 227.883.061 | |
11. Other cash outflows (-) | (10.086.128.819) | (5.633.192.400) | |
12. Net cash generated from / (used in) operating activities | 10.446.751.374 | 7.175.801.453 | |
B. Cash flows from the investing activities | - | - | |
1. Sale of tangible assets | 23.891.685 | 3.783.610 | |
2. Purchase of tangible assets (-) | 6.3.1 | (1.448.287.947) | (650.305.880) |
3. Acquisition of financial assets (-) | 11.4 | (19.585.372.578) | (12.608.371.929) |
4. Sale of financial assets | 8.590.479.493 | 7.488.263.264 | |
5. Interest received | 4.258.090.991 | 2.606.636.917 | |
6. Dividends received | 26 | 97.310.419 | 2.149.991 |
7. Other cash inflows | - | - | |
8. Other cash outflows (-) | 9 | (650.000.000) | (786.250.000) |
9. Net cash generated from / (used in) the investing activities | (8.713.887.937) | (3.944.094.027) | |
C. Cash flows from the financing activities | - | - | |
1. Issue of equity shares | - | - | |
2. Cash inflows from borrowings | - | - | |
3. Payments of financial leases (-) | 20 | (164.209.421) | (99.941.078) |
4. Dividends paid (-) | (942.203.657) | (281.809.142) | |
5. Other cash inflows | - | - | |
6. Other cash outflows (-)- | (13.620.400) | (55.438.522) | |
7. Cash generated from / (used in) the financing activities | (1.120.033.478) | (437.188.742) | |
D. Effects of Exchange Rate Differences on Cash and Cash Equivalents | 1.988.516 | (2.643.175) | |
E. Net increase / (decrease) in cash and cash equivalents (A12+B9+C7+D) | 614.818.475 | 2.791.875.509 | |
F. Cash and cash equivalents at the beginning of the period | 2.12 | 4.741.636.830 | 1.949.761.321 |
G. Cash and cash equivalents at the end of period (E+F) | 2.12 | 5.356.455.305 | 4.741.636.830 |
NON-CONSOLIDATED SHAREHOLDERS' EQUITY AS OF 31 DECEMBER 2025
(Amounts expressed in Turkish Lira (TL) unless otherwise stated).
Audited Current Period | |||||||||||
CURRENT PERIOD | 1 January-31 December 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) (-) | Total | |
I- 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 |
A- Capital increase (A1 + A2) | - | - | - | - | - | - | - | - | - | - | - |
1- Cash | - | - | - | - | - | - | - | - | - | - | - |
2- Internal Resources | - | - | - | - | - | - | - | - | - | - | - |
B- Purchase of own shares | - | (13.620.400) | - | - | - | - | - | - | - | - | (13.620.400) |
C- Income / (expenses) recognized directly in equity | - | - | - | - | - | - | - | (72.220.130) | - | - | (72.220.130) |
D- Valuation gains on assets | - | - | 171.658.249 | - | - | - | - | - | - | - | 171.658.249 |
E- Exchange difference arising on translation of foreign operations | - | - | - | - | - | - | - | - | - | - | - |
F- Other income / (expenses) | - | - | - | - | - | - | - | - | - | - | - |
G- Inflation adjustments | - | - | - | - | - | - | - | - | - | - | - |
H- Net profit for the period | - | - | - | - | - | - | - | - | 5.149.878.691 | - | 5.149.878.691 |
I- Payment of dividends | - | - | - | - | - | - | - | - | (1.000.000.000) | - | (1.000.000.000) |
J- Transfers | - | - | - | - | - | 99.100.000 | - | 1.655.503.624 | (1.754.603.624) | - | - |
IV- Balance at (31/12/2025) (III+A+B+C+D+E+F+G+H+I+J) | 180.000.000 | (113.842.338) | 246.906.378 | - | - | 237.439.901 | 11.494 | 3.875.213.829 | 5.149.878.691 | - | 9.575.607.955 |
Audited Previous Period | |||||||||||
1 January-31 December 2024 | |||||||||||
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) (-) | 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) (III+A+B+C+D+E+F+G+H+I+J) | 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 |