Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 648

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 648
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         |     |               |       |     |                     |        |     |       |       |
| Contract recognized for the first time in the period |                         | Except for net profit contract set |     |                                     W | (160,095 | ) |     |                       | — |     |                        | 109,889 |     |               | 3,098 |     |                     | 47,598 |     |       |   490 |
|                                                      | Net profit contract set |                                    |     |                               (64,074 | )        |   |     | —                     |   |     |                 68,159 |         |     |         1,574 |       |     | (4,669              |      ) |     |   990 |       |
|                                                      |                         |                                    |     |                                     W | (224,169 | ) |     |                       | — |     |                        | 178,048 |     |               | 4,672 |     |                     | 42,929 |     |       | 1,480 |

<div align='center'>F-26 9</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 |         |   |     |       |        |   |     |      |         |   |     |      |         |   |     |           |         |   |     |       |          |   |
|                                  |     | Less than 
    1 year |         |   |     | 1~2   
 years |        |   |     | 2~5  
 year |         |   |     | 5~10 
 year |         |   |     | More than 
 10 years  |         |   |     | Total |          |   |
| Reinsurance contract assets      |     |         W | (5,256  | ) |     |       | (4,777 | ) |     |      | (12,166 | ) |     |      | (15,305 | ) |     |           | (33,455 | ) |     |       | (70,959  | ) |
| Reinsurance contract liabilities |     |           |