Anadolu Anonim Türk Sigorta Sirketi (ANSGR) Q3 2025 earnings summary

Executive summary

• Net profit for the first nine months of 2025 reached 8.96 billion TRY, up from 8.28 billion TRY in the same period last year, with Q3 net profit at 3.4 billion TRY and a 10% year-over-year increase in unconsolidated results.

• Premium volume reached 67.9 billion TRY for 9M25, up 46% year-over-year, maintaining a 9.3% market share in the non-life insurance sector.

• Assets under management grew to 72.3 billion TRY, up 13% sequentially and 30% year-to-date.

• Shareholders' equity rose to 30.8 billion TRY from 23.7 billion TRY over the same period.

• Total assets increased to 116.7 billion TRY as of 30.09.2025, up from 89.3 billion TRY at year-end 2024.

Financial highlights

• Investment income for 3Q25 was 7.3 billion TRY, with cumulative nine-month investment income at nearly 17 billion TRY.

• Net earned premiums for 9M25 were 61.94 billion TRY, up from 44.87 billion TRY year-over-year.

• Technical income for 9M25 increased 52% year-over-year to 45.9 billion TRY, while technical expenses rose 63% to 50.5 billion TRY.

• Total technical profit for 9M25 was 25.29 billion TRY, up from 16.59 billion TRY in 9M24.

• Cash and cash equivalents at period-end were 34.26 billion TRY, up from 24.34 billion TRY at year-end 2024.

Outlook and guidance

• Return on average equity remains strong, with consolidated ROE at 52% and solo ROE at 40%, both above inflation.

• Discount rate applied to reserves reduced by 2.5 ppts to 30%, impacting reserves by 944 million TRY gross.

• Management expects accelerating AuM growth and investment income to continue.