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 67 Milli Re Annual Report 2020 Key Ratios (%) 2020 2019 2018 1 . Capital Adequacy Ratios Gross Premiums/Shareholders’ Equity 76 86 79 Shareholders’ Equity/Total Assets 43 43 44 Shareholders’ Equity/Net Technical Provisions 89 87 90 2. Asset Quality and Liquidity Ratios Liquid Assets/Total Assets 50 50 51 Liquidity Ratio 161 159 154 Current Ratio 124 121 121 Premium and Reinsurance Receivables/Total Assets 8 8 8 3. Operational Ratios Retention Ratio 87 88 87 Paid Claims/Paid Claims+Outstanding Claims 38 40 39 4. Profitability Ratios Gross Loss Ratio 76 82 84 Expense Ratio 27 26 27 Combined Ratio 103 108 111 Net Loss Ratio 86 87 93 Expense Ratio 31 30 31 Combined Ratio 117 117 124 Profit Before Tax/Gross Written Premiums 21 21 23 Gross Financial Profit/ Gross Written Premiums 17 16 16 Technical Profit/Gross Written Premiums 4 5 7 Profit Before Tax/Average Total Assets 7 8 8 Profit Before Tax/Average Shareholders’ Equity (Excluding Profit) 18 21 22 Key Figures 2020 2019 2018 2017 2016 * Gross Premiums 1,820,275,306 1,658,819,927 1,320,177,533 1,085,712,889 929,965,931 Technical Division Balance 62,475,722 85,063,787 100,660,204 63,180,784 85,088,498 Investment Income 685,087,147 661,184,678 644,537,098 378,157,716 320,507,563 Investment Expenses (368,475,610) (403,360,732) (425,812,893) (192,041,506) (175,258,106) Other Income and Expenses (1,457,582) 6,850,022 (13,488,014) (2,143,249) (23,167,772) Gross Profit/Loss for the Period 377,629,677 349,737,755 305,896,395 247,153,745 207,170,184 Taxation (29,030,769) (37,227,141) (27,682,983) (44,131,400) (3,558,844) Profit/Loss for the Period 348,598,908 312,510,614 278,213,412 203,022,345 203,611,340 Shareholders’ Equity 2,638,633,525 2,135,840,889 1,736,300,262 1,587,067,868 1,423,976,225 Total Assets 5,506,298,142 4,531,965,239 3,378,241,986 3,179,504,466 2,816,938,598 *2016 results were restated according to the equity method.