Management’s Assessment

Our Esteemed Stakeholders,
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Until very recently, when drawing up annual assessments and communication texts, we were talking about the difficulty of forecasting the future in an almost-global environment of uncertainty and constant change, not just for us but for the entire business world.
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But uncertainty is now our new normal and, in 2024, we learned how to conduct business amid uncertainty. Tensions and conflicts persisted in many areas of the world, affecting, in particular, international relations and the economy. Eastern Europe and the Middle East continued to be beset with humanitarian crises, with civilians -yet again- suffering the most severe consequences.

In the past year, protectionist economic measures, including especially those implemented by China and the US towards each other, set the tone of economic relations between countries. Inflationary pressures, however, eased the pressure on global economies, even if the expected interest rate cuts did not materialize.
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In this global landscape, the Turkish economy saw a positive impact, continuing its recovery in the first six months of 2024, and growing by 5.7% and 2.5% during the first and second quarters, respectively. According to IMF estimates, the economy is expected to grow by 3.1% and 3.2% in 2024 and 2025, respectively.,
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The past year has also been a positive one for our industry. The Insurance Association of Türkiye (TSB) announced that the industry’s premium production increased by 72.5% in 2024, reaching TL 838.4 billion. As Aksigorta, we are proud to end the year 2024 by achieving our targets in terms of both economic figures and business processes. While our market share was 4.8%, our premium production increased by 28% compared to the previous year, reaching TL 35 billion.
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In 2024, the Aksigorta Family went through a key changeover in management. Our valued friend Uğur Gülen, who had served as the General Manager of Aksigorta for nearly 15 years, handed over his duties to Fırat Kuruca. We thank Mr. Gülen, who acts as a Board Member at Sabancı Holding Group companies AgeSA Hayat ve Emeklilik A.Ş., Medisa A.Ş. and Aksigorta, once again for his many contributions and his hard work during his successful term of office.
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We are confident that Fırat Kuruca, who has now assumed the role of Aksigorta General Manager in addition to his role as AgeSA General Manager, which he has held since the beginning of 2017, will further reinforce the strong position of both companies and deepen their synergy areas.

Another important development this year came from Sabancı Ageas Sağlık Sigorta A.Ş., established in August 2022. Having completed the branding process, the company will continue its operations under the name Medisa. Medisa aims to offer a holistic experience to its customers by combining telemedicine, healthy living, and disease management -among the most important components of health insurance- with the strategic collaboration, human resources, and future vision provided by Aksigorta.

This year, we further strengthened our customer experience-focused approach, reaffirming the importance of providing insurance solutions tailored to the unique needs of each individual. At Aksigorta, our goal is to simplify life for our customers by making insurance processes faster and more efficient. Through our Talking Policy app, we made home insurance more understandable and accessible. Additionally, we quickly adapted to our customers’ evolving needs in the new world with e-kasko, Türkiye’s first MOD insurance designed specifically for electric vehicles, and with branded MOD insurances, another industry first. With Pati Plus VetAmerikan, launched this year with the vision of delivering the best insurance for pet owners, we introduced one of the most comprehensive coverage products in the sector.
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Customer-orientation, digitalization, and sustainability were again on our agenda this past year. We are extremely proud to see that these items, which are now part of our corporate DNA, are not viewed as separate areas but, rather, as ways of creating a social benefit under one concept at Aksigorta.
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As the Aksigorta Family, we aim to achieve sustainable improvement in terms of the social, economic, and environmental impact of our operational processes, products, and services, and to address our efforts in all these areas in our third Sustainability Report. Our sustainability-focused work in environmental, social and management areas continued throughout the year.
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Artificial intelligence is, without a doubt, one of the most talked about, thought-provoking and heavily debated topics around the world. However, one element of AI becomes clearer with each passing day - the key role of human resources.
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Even as processes become increasingly digitalized, an organization’s true success is still dependent on its human resources and talents. Therefore, Aksigorta, in addition to supporting talent development, also designs and implements valuable programs to attract new talents and build the future of the Company.
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It appears that there are considerable challenges ahead: Good insurers show their capabilities in situations like these.

Consistently anticipating, calculating, and preparing for risks, Aksigorta confidently advances into the future.
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We would like to thank all our shareholders, including our main shareholders Sabancı Holding and Ageas, as well as all the stakeholders who support us on this journey.
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Kind regards,
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Haluk Dinçer
Chairman of the Board of Directors
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Mustafa Fırat Kuruca
Board Member and General Manager