MILLI_RE_ANNUAL REPORT 2022

Chairperson’s Message With the benefit of its vast market experience, robust financial structure, and risk management competencies, Milli Re continued to perform successfully in 2022. GROWTH IN ECONOMY On 6 February 2023 we experienced one of the worst disasters in our country’s history. The Kahramanmaraş earthquakes that struck that day caused great losses of life and property in many provinces in our country and everywhere left tremendous feelings of sorrow in their wake. The companies of İşbank Group have been making a concerted effort and are marshalling all of their resources to stand by the survivors, address their needs, and alleviate their losses. May God have mercy on those who lost their lives. To their families I offer my condolences, to the injured my wishes for their recovery. The world economy at a new turning point For the world as a whole, 2022 was a year in which soaring commodity prices and inflation were exacerbated by Russia’s war on Ukraine while the global economy felt the pressure exerted by the tight-money policies of developed countries’ monetary authorities. Increased worries over energy supply security created uncertainties that beset the whole world. For a time, the global economy also suffered from China’s insistence on its strict zero-Covid policy. CONTINUING TO BENEFIT FROM STRONG DOMESTIC DEMAND, THE TURKISH ECONOMY GREW BY 5.6% IN 2022. 5.6% ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES GENERAL INFORMATION FINANCIAL RIGHTS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RESEARCH & DEVELOPMENT ACTIVITIES 12 MİLLİ RE 2022 ANNUAL REPORT