MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 139 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 Millî Reasürans Türk Anonim Şirketi NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) (Currency: Turkish Lira (TL)) December 31, 2018 Level 1 Level 2 Level 3 Total Financial assets: Available for sale financial assets (Note 11) (*) 159.260.466 - - 159.260.466 Associates (Note 9) - 118.255.503 - 118.255.503 Subsidiaries (Note 9) - 650.692.496 - 650.692.496 Total financial assets 159.260.446 768.947.999 - 928.208.465 Tangible assets: Investment properties (Note 6) - 392.041.000 - 392.041.000 Owner Occupied Properties (Note 6) - 179.340.000 - 179.340.000 Total tangible assets - 571.381.000 - 571.381.000 Total 159.260.446 1.340.328.999 - 1.499.589.465 (*) As of December 31, 2018, securities that are not publicly traded amounting to TL 728.281 have been measured at cost. Equity share price risk Equity share price risk is defined as the risk of decreasing the market price of equity shares as a result of a decline in index. The effect of changes in fair values of the associates and the available-for-sale financial assets on equity that is resulted from the fluctuations on index (all of the other variables are assumed to be fixed) are as follows as of December 31, 2019 and 2018: Change in index December 31, 2019 December 31,2018 Market price of equity 10% 7.711.589 4.938.518