Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 643

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 643
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 |     |                             |       — |   |     |                         |     — |   |     |                         |  33,051 |   |     |                     |     — |     |       |  33,051 |   |
|                                                          |     | Receipt of investment elements and recovery of reinsurance premiums |     |                             |       — |   |     |                         |     — |   |     |                         |       — |   |     |                     |     — |     |       |       — |   |
|                                                          |     |                                                                     |     |                             |   2,128 |   |     |                         |     — |   |     |                         |  33,051 |   |     |                     |     — |     |       |  35,179 |   |
| Other increase/decrease                                  |     |                                                                     |     |                             |  45,500 |   |     |                         |     — |   |     |                         | (33,658 | ) |     |                     |     — |     |       |  11,842 |   |
| Ending balance                                           |     | Reinsurance contract assets                                         |     |                             |  51,439 |   |     |                         |   965 |   |     |                         |  23,144 |   |     |                     | 1,517 |     |       |  77,065 |   |
|                                                          |     | Reinsurance contract liabilities                                    |     |                             |       — |   |     |                         |     — |   |     |                         |      (5 | ) |     |                     |     — |     |       |      (5 | ) |
|                                                          |     | Net reinsurance contract assets (liabilities)                       |     |                           W |  51,439 |   |     |                         |   965 |   |     |                         |  23,139 |   |     |                     | 1,517 |     |       |  77,060 |   |

<div align='center'>F-2 6 4</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 28. | Insurance contract liabilities (continued) |

|                                    |     |                                                                    |     |                   2023