MILLI RE 2023 ANNUAL REPORT

TRANSACTIONS CARRIED OUT WITH MİLLİ RE’S RISK GROUP EXTERNAL SERVICE PROCUREMENT Being a member of İşbank Group, Milli Re carries out its relations with its risk group on an arm’s length basis. Relations with group companies are concentrated mostly in reinsurance, banking, portfolio management, information technologies services and risk management. Risk management activities are carried out in compliance with Consolidated Risk Policies of the risk group. Possible risks and findings obtained as a result of measurement are regularly monitored through reporting systems set up within the group. Detailed information on the Company’s transactions with its risk group is presented in the notes to the Financial Statements. The company’s external service procurements are carried out in a transparent manner, taking into account business necessities, information technology requirements and in compliance with legal regulations within which the authorities and responsibilities of all relevant parties are clearly determined. External services were procured for maintenance support services of softwares and databases predominantly used in reinsurance, claims, accounting, human resources and correspondence processes. The external services procured by internal systems are within the scope of the followings; • In the field of actuarial; support service received for calculation of insurance technical provisions, pricing, setting an economic capital model and capital adequacy calculations, • Registered actuarial service and • Audit of information technologies. 87 GENERAL INFORMATION FINANCIAL RIGHTS PROVIDEDTOTHE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES RESEARCH & DEVELOPMENT ACTIVITIES FINANCIAL STATUS FINANCIAL INFORMATION 2023 Annual Report RISKS AND ASSESSMENT OF THE GOVERNING BODY