Aksigorta (AKGRT) Q1 2026 earnings summary

Executive summary

• Gross written premiums rose 33% year-over-year to 11.7bn TL, driven by strong growth in MTPL and MOD lines.

• Net profit for Q1 2026 was 268.2 million TL, down from 352.1 million TL in Q1 2025, impacted by higher general expenses and technical challenges.

• Technical profit increased 9% year-over-year to 1.27bn TL, supported by non-motor underwriting and financial income.

• Total assets increased to 37.98 billion TL as of March 31, 2026, from 34.49 billion TL at year-end 2025.

• Strategic investments in people, digital, and analytics continued to support long-term growth and efficiency.

Financial highlights

• Gross written premiums: 11.7bn TL (+33% YoY); net earned premiums: 3.74bn TL (+40% YoY); net insurance premium income for Q1 2026: 4.89bn TL.

• Technical profit: 1.27bn TL (+9% YoY); technical profit (non-life): 290.1 million TL, down from 542.8 million TL YoY.

• Net profit: 268m TL (-24% YoY); general expenses: 984m TL (+58% YoY).

• Investment income reached 1.21 billion TL, compared to 797.8 million TL in Q1 2025.

• Asset under management reached 18.6bn TL (+28% YoY); cash and cash equivalents at period-end were 8.38 billion TL.

Outlook and guidance

• Focus remains on disciplined underwriting, technical profitability, and maintaining strong capital adequacy.

• Strategic priorities include gaining market share in profitable segments and leveraging digital and analytics capabilities.

• Continued emphasis on non-motor and health insurance for future growth.

• Capital adequacy remains strong with equity exceeding regulatory requirements by 2.8 billion TL.