Aksigorta (AKGRT) Q2 2025 earnings summary

Executive summary

• Net income for 1H25 rose 99% year-over-year to 1,210m TL, reflecting robust underwriting, operational, and investment performance.

• Achieved strong earnings momentum in 2Q25, with net income up 156% year-over-year and operational profit up 147%.

• Total assets increased to 27.9 billion TL as of June 30, 2025, compared to 25.6 billion TL at year-end 2024.

• Equity increased to 6.3 billion TL, up from 5.1 billion TL at the end of 2024.

• Strategic focus on sustainable, profitable growth, disciplined underwriting, and technical profitability.

Financial highlights

• 2Q25 gross written premiums (GWP) were 6,578m TL, down 17% year-over-year; 1H25 GWP was 15,375m TL, down 12% year-over-year.

• 2Q25 net income reached 858m TL (+156% YoY); 1H25 net income was 1,210m TL (+99% YoY).

• Technical profit from non-life operations reached 1.57 billion TL in 1H25, more than doubling from 700 million TL in H1 2024.

• Financial income in 2Q25 was 1,486m TL (+64% YoY); 1H25 financial income was 2,504m TL (+38% YoY).

• Total equity increased to 6,315m TL (+62% YoY); assets under management reached 15,596m TL (+34% YoY).

Outlook and guidance

• Focus remains on sustainable and profitable growth, maintaining capital adequacy above 150%, and expanding in profitable business lines.

• No dividend distribution was made for 2024, supporting capital retention for future growth.

• Continued emphasis on disciplined underwriting, technical profitability, and leveraging digital and distribution capabilities.