MILLI RE 2020 ANNUAL REPORT

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 43 Milli Re Annual Report 2020 The “Basic Insurance Training Program”, organized since the establishment of the Foundation has the distinction of being one of the most comprehensive training programs in the field of insurance. A total of 3,000 participants have graduated from the program to date. As a follow‑up course to this, TSEV also offers “Advanced Insurance Training Programs” which are the only project and practice‑oriented training programs in the market. Besides TSEV regularly provides short‑term training programs in accordance with the current market needs, introductory courses for new employees joining the insurance industry and to insurance departments of corporates as well as actuarial training programs. In addition to those, a long‑term online program addressing insurers living outside of İstanbul was designed and introduced to the sector in the reporting period, which is titled “Insurance from A to Z for Sales People”. Apart from insurance training, Personal Development Training Programs are also given by TSEV and the versatility in this segment increases by the year. As the training programs were moved to the online platform, many people living outside of İstanbul had the opportunity to attend TSEV training programs. In 2020, 4,347 people received a total of 2,484 hours of training from TSEV through these programs. Furthermore, “Consultancy”, “Closed Group Classroom Training”, “Promotion”, and “Company Exams” were realized based on demands from companies. 2020 also marked the organization of the first long‑term training programs for foreign countries. Actuary exams and the training courses for these exams are being given by TSEV under the agreements made with the Central Bank of the Republic of Azerbaijan and Azerbaijan Insurers Association. The cooperation with the Azerbaijan insurance industry also continues in other areas through detailed training and exam programs. TSEV organizes training programs on insurance techniques and law as well as administrative issues for the insurance sector and for various companies, institutions and organizations.