MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 11 Activities and Major Developments Related to Activities Financial Status Risks and Assessment of the Governing Body Unconsolidated Financial Statements Together with Independent Auditors’ Report Thereon Consolidated Financial Statements Together with Independent Auditors’ Report Thereon General Information Financial Rights Provided to the Members of the Governing Body and Senior Executives Research & Development Activities Increasing by 26% compared to last year, Milli Re’s premium production was TL 1,659 million in 2019. As of 2019 year-end, Milli Re’s total assets reached TL 4,532 million, shareholders’ equity amounted to TL 2,136 million and the net profit was registered as TL 313 million. Marking its 91 st anniversary in 2019, while ensuring the sustainability of its contributions to Turkey’s Insurance Industry and the country’s economy; Milli Re, as a preferred business partner with the reputation gained in the international markets, aims to carry its success into the future with the help of its well-established corporate culture and experience going back to many years. I would like to thank our shareholders, business partners and employees for always supporting our firm steps forward on this century long journey. Ebru ÖZŞUCA Chairperson of the Board of Directors Increasing by 12.3% year on year basis, Milli Re’s net profit for 2019 was TL 313 million. 12.3%