Aksigorta As · BIST:AKGRT
Aksigorta As — Investor Presentation (October 2025)
34 slides from Aksigorta As's investor presentation, October 2025
Slide 1: Investor Presentation October 2025
Investor Presentation October 2025
Slide 2: Content
Hizmete Özel | Kişisel Veri İçermez Content Aksigorta overview Industry drivers Financial Performance Sustainability Appendix 2
Slide 3: Strategy house
Strategy house Become a top-tier non-life insurance player in Turkey Purpose Become a customer- Strategic Establish technical Transform agency Become a top-tier player Selectively build mid- centric company Choices excellence for channel into a robust in private corporate success on through life-cyc
Slide 4: Experience and technology driving sustainable growth
Hizmete Özel | Kişisel Veri İçermez Experience and technology driving sustainable growth Visionary Leadership • CEO Fırat Kuruca brings 19 years of proven industry leadership & • Seasoned executive team with long tenure Dynamic Teamwork • Agile and cross-functional teams Extensive Network • 3,656 ag
Slide 5: Extensive distribution network
Extensive distribution network 679 +6,300 +810k 3,656 branches ATMs POS machines agencies 10.4b TL GWP 14 .8m 12.9m active customers digital customers 154 brokers Leader 12.8k 3.7b TL in digital banking employees GWP as of 30 September 2025 as of 30 September 2025 5 5
Slide 6: Strong digital capabilities with Aksigorta Digital Assistant ADA
Strong digital capabilities with Aksigorta Digital Assistant «ADA» We target 8.2 million transactions in 2025 by using new technologies. # of Transaction Executed by ADA (million) RPA AI / Generative AI Target 6.2M 218 230 24% YoY 9M25 Transactions Automated FTE virtual 0,7 processes workforce • Our
Slide 7: Diversified product portfolio
Diversified product portfolio Motor Non-Motor Health Fire: Specialized property insurance that Motor Third Party Liability (MTPL): Aksağlık Insurance: addresses damages and losses resulting Mandatory insurance that covers damages Offers privileges with 4,000+ contracted from fire incidents. by the i
Slide 8: Strong JV partnership with 60+ years of expertise in Turkish insurance
Hizmete Özel | Kişisel Veri İçermez Strong JV partnership with 60+ years of expertise in Turkish insurance Trust, global insight, and decades of insurance expertise AKSİGORTA SABANCI HOLDING AGEAS 2nd largest A unique & well diversified multi-business enterprise Insurance group in Türkiye in Europe
Slide 9: Board of directors
Board of directors 20% Independent members Hakan Binbaşgil Chairman Ben Karel E. Coumans Emmanuel Van Grimbergen Fatma Dilek Yardım Vice Chairman Member Independent Member Haluk Dinçer Uğur Gülen Hüseyin Gürer Member Member Independent Member Karolien Gielen Mustafa Fırat Kuruca Emre Çift Member Mem
Slide 10: Executive team
Executive team Mustafa Fırat Kuruca General Manager & Board Member Zeren Zeynep Eröktem Bal Deniz Ceylan Osman Akkoca AGM AGM AGM Finance Corporate UW & Reinsurance Agencies Seydi Kaan Konak Selim Avşar Mustafa Erdoğan AGM AGM AGM Bank Insurance Technology and Operational Excellence Corporate Sales
Slide 11: Industry drivers
Aksigorta overview Industry drivers Financial Performance Sustainability Appendix 11
Slide 12: Industry dynamics
FINANCIAL Industry SERVICES SBU STRATEGY & ROADMAP dynamics Delivering Societal Changing Macro Evolving Customer Needs Prevailing Technology Value Dynamics • Hyper-personalization • Generative AI • Global protection gaps • High interest and inflation • Embedded insurance • Digitalization • Climate c
Slide 13: Insurance: A core business for agencies and an integral offering in banks
Hizmete Özel | Kişisel Veri İçermez Insurance: A core business for agencies and an integral offering in banks Market GWP* (m TL) Key growth assumptions Distribution Channels Market Share: The agency channel dominates the market, accounting for 60% of the total, 48% followed by corporate and bank cha
Slide 14: Low penetration levels signal growth potential
Hizmete Özel | Kişisel Veri İçermez Low penetration levels signal growth potential Vehicles Vehicles Houses Individuals 33.0M 33.0M 20.0M 85.7M 78% 25% 58% 12% MTPL MOD TCIP Health Insurance Number of vehicles GDP per capita GDP per capita GDP per capita Number of vehicles per person Average vehicle
Slide 15: Financial Performance
Aksigorta overview Industry drivers Financial Performance Sustainability Appendix 15
Slide 16: 3Q25 results reflect accelerating progress toward strategic priorities
3Q25 results reflect accelerating progress toward strategic priorities Momentum regained across key metrics, signaling strong execution and recovery trajectory 8,250m TL 1,008m TL 1,456m TL 825m TL Gross Written Net Technical Result Financial Income* Net Income Premiums +10% YoY +46% YoY +34% YoY +4
Slide 17: Consistent delivery of strategic and financial goals in 9M25
Consistent delivery of strategic and financial goals in 9M25 Disciplined underwriting and portfolio optimization underpin strong profitability trend 23,625m TL 2,582m TL 3,960m TL 2,035m TL Gross Written Net Technical Result Financial Income* Net Income Premiums -6% YoY +86% YoY +36% YoY +75% YoY 7,
Slide 18: Prioritizing profitable growth with high-margin and sustainable product mix
Prioritizing profitable growth with high-margin and sustainable product mix Ongoing non-motor momentum and bank channel growth GWP Channel Mix Quarterly GWP, m TL +10% 44% Agency 41% (-9pp YoY) (+5pp YoY) 9M25 Bank 9,852 Corporate 8,797 2,486 8,250 1,067 15% 7,498 903 (+4ppYoY) 754 6,578 1,015 1,151
Slide 19: Robust 135% YoY growth in non-motor fueled 86% rise in technical profit
Robust 135% YoY growth in non-motor fueled a healthy 86% rise in technical profit Technical Profit (TL, m)* 135% 86% 2,582 3,131 -43% -7% 1,392 1,331 739 422 480 445 Total MTPL MOD Non-Motor Health -1,158 -1,416 9M24 9M25 -22% (*) Includes uw result, allocated financial income and general expenses 1
Slide 20: Loss ratio is improved in all lines, diluted by increase in the expense ratio
Loss ratio is improved in all lines, diluted by increase in the expense ratio 9M Aksigorta Total MTPL MOD Non-Motor 123% 121% Loss Ratio 70 163 60 60 49 146 Commission Ratio 8 6 6 17 18 5 91% 84% Expense Ratio 19 35 18 15 9 32 9% 12% 28% Combined Ratio 186 97 97 21% 167 100 90 9M24 9M25 Note: Ratios
Slide 21: 29% YoY AUM growth supports resilient financial income performance
29% YoY AUM growth supports resilient financial income performance Balanced portfolio and disciplined asset allocation sustain strong yields Portfolio breakdown, % Government bond fund Time deposits 3 1 22 3 4 Eurobond 5 Government bond 20 Sustainability fund 40 15 42 O/N Deposits Sep’24 Sep’25 Corp
Slide 22: Accelerating momentum in results
Accelerating momentum in results 4,500 4,064 2,657 2,786 709 931 542 190 2019 2020 2021 2022 2023 2024 9M24 9M25 Financial Income + Net Underwriting Result Net Underwriting Result (UWR) = Net Earned Premiums + Net Claims + Net Commissions 22
Slide 23: Earnings momentum sustained through solid UWR and financial income
Earnings momentum sustained through solid UWR and financial income Improved loss ratio and strong financial income reinforce positive earnings trend Net profit bridge 2024 to 9M25, m TL 411 859 152 118 352 2,035 1,857 2024 Net Profit UWR Financial Income Expenses Tax Net Profit 9M25 23
Slide 24: Strong capital position maintained with 178% CAR
Strong capital position maintained with 178% CAR, despite topline growth with 3.3 bn TL excess capital Capital adequacy Jun.24 Dec.24 Mar.25 Jun.25 Sep.25* Main Drivers Required capital 3,680 3,344 3,854 3,844 4,171 Asset risk 753 356 1,195 1,208 1,241 Asset size Reinsurance risk 1,036 1,015 971 914
Slide 25: Strong capital base and stable RoE despite market headwinds
Strong capital base and stable RoE despite market headwinds Receivable growth aligned with portfolio expansion 9M25 summary balance sheet Balance Sheet (m TL) Dec.24 Sep.25 ∆ 17% AUM 13,492 16,511 22% 41% Receivables 6,033 9,505 58% Total Assets 25,556 29,883 17% Reserves 12,594 14,544 15% Payables
Slide 26: Robust 3Q earnings momentum: Operational profit up 46% & net profit up 49%
Robust 3Q earnings momentum: Operational profit up 46% & net profit up 49% 3Q25 summary income statement Income Statement (m TL) 3Q24 3Q25 ∆ Gross Written Premiums 7,498 8,250 10% Gross Earned Premiums 8,371 8,127 -3% Net Earned Premiums 2,693 2,903 8% Net Underwriting Result 79 218 178% 49% Allocat
Slide 27: Sustained earnings momentum in 9M: 75% growth in net profit
Sustained earnings momentum in 9M: 75% growth in net profit 9M25 summary income statement Income Statement (m TL) 9M24 9M25 ∆ Gross Written Premiums 25,020 23,625 -6% Gross Earned Premiums 23,964 24,955 4% 75% Net Earned Premiums 7,871 8,298 5% Net Underwriting Result -118 540 n.m. Allocated Financi
Slide 28: Strategic Priorities
Strategic Priorities ► Sustainable and profitable growth is our primary focus: ➢ disciplined underwriting ➢ technical profitability ➢ maintaining 150% capital adequacy ratio (despite topline growth) $704.78 ➢ gaining market share in profitable businesses $191.01 ► Key considerations: $189.31 ➢ navig
Slide 29: Sustainability
Aksigorta overview Industry drivers Financial Performance Sustainability Appendix 29
Slide 30: Charting a sustainable future
Charting a sustainable future Building a greener future through innovation • Pledged 65% reduction in Scope 1 & 2 emissions (2019-2030) KEY MILESTONES • Pledged to achieve 40% investment portfolio coverage from companies setting SBTi-aligned targets between 2022 and 2029, and 100% coverage by 2040.
Slide 31: Appendix
Aksigorta overview Industry drivers Financial Performance Sustainability Appendix 31
Slide 32: Glossary
Glossary AGM Assistant General Manager AI Artificial intelligence AUM Asset under management BITT Banking and insurance transaction tax Ceded Premiums Premiums transferred to reinsurers to mitigate risk exposure. Combined Ratio Sum of Loss ratio, Commission ratio and Expense ratio FI Financial Incom
Slide 33: Thank you!
Thank you! Investor Relations +90 216 280 9761 [email protected]
Slide 34: Disclaimer
Disclaimer The information in this presentation has been prepared by Aksigorta A.Ş. (the “Company”) solely for use at a presentation concerning the Company, its proposed listing on the Borsa İstanbul. This presentation does not constitute or form part of, and should not be construed as, an offer to
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