Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 651

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 651
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   |     |       |    44,985 |   |
| Unapplied premium allocation approach |     | Expected reinsurance amount               |     |                          |       — |   |     |                   |  41,537 |   |     |      |   7,324 |   |     |       |    48,861 |   |
|                                       |     | Risk-adjusted change amount               |     |                          |       — |   |     |                   |   3,227 |   |     |      |     626 |   |     |       |     3,853 |   |
|                                       |     | Contractual service margin amortization   |     |                          |       — |   |     |                   |   8,120 |   |     |      |   7,269 |   |     |       |    15,389 |   |
|                                       |     | Etc. (*)                                  |     |                          |       — |   |     |                   |    (247 | ) |     |      |   4,230 |   |     |       |     3,983 |   |
|                                       |     |                                           |     |                          |       — |   |     |                   |  52,637 |   |     |      |  19,449 |   |     |       |    72,086 |   |
| Premium allocation approach           |     |                                           |     |                          |   5,375 |   |     |                   |       — |   |     |      |   4,729 |   |     |       |    10,104 |   |
| Reinsurance service expense subtotal  |     |                                           |     |                          |   5,375 |   |     |                   |  52,637 |   |     |      |  24,178 |   |     |       |    82,190 |   |
|                                       |     |                                           |     |                        W | 636,704 |   |     |                   | 271,674 |   |     |      | 205,237 |   |     |       | 1,113,615 |   |

<div align='center'>F-2 72</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31,