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 65 Milli Re Annual Report 2020 Milli Re’s premium production reached TL 1,820 million increasing by 10%, while paid losses amounted to approximately TL 1,053 million. The Company booked a net profit of TL 349 million in 2020. Company’s Liquid Assets correspond to 50% of Total Assets. Milli Re fulfilled all its legal and commercial liabilities in 2020 thanks to its strong asset structure and balanced maturity distribution of invested assets. Details on technical results are presented in the “2020 Technical Results” section. Financial Strength, Profitability and Solvency 101 85 62 2018 2019 2020 Technical Profit (TL million) 278 313 349 2018 2019 2020 Profit for the Period (TL million) 1,902 2,276 2,751 2018 2019 2020 Liquid Assets (TL million) 1,736 2,136 2,639 2018 2019 2020 Shareholders’ Equity (TL million) 1,320 1,659 1,820 2018 2019 2020 Premium Income (TL million) 660 660 660 2018 2019 2020 Paid‑up Capital (TL million) Financial Results (TL million) 2020 2019Change (%) Total Assets 5,506 4,532 21.50 Shareholders’ Equity 2,639 2,136 23.54 Technical Income 1,974 1,754 12.58 Technical Profit/Loss 62 85 (26.55) Financial Income 685 661 3.62 Financial Profit/Loss 286 227 25.80 Profit/Loss for the Period 349 313 11.55