MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 148 Millî Reasürans Türk Anonim Şirketi NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) 12 Loans and receivables December 31, 2019 December 31, 2018 Receivables from main operations (Note 4.2) 343.722.732 300.658.813 Prepaid taxes and funds (Note 19) 6.312.824 - Other receivables (Note 4.2) 1.746.065 1.696.048 Other current asset 10.000 166.660 Total 351.791.621 302.521.521 Short-term receivables 186.540.997 258.239.702 Medium and long-term receivables 165.250.624 44.281.819 Total 351.791.621 302.521.521 As of December 31, 2019 and 2018, receivables from main operations are detailed as follows: December 31, 2019 December 31, 2018 Receivables from insurance companies 72.720.084 61.201.859 Receivables from brokers and intermediaries 60.768.061 66.190.154 Receivables from reinsurance companies (Note 10) 60.633.142 46.329.322 Total receivables from insurance operations, net 194.121.287 173.721.335 Cash deposited to insurance and reinsurance companies 149.601.445 126.937.478 Doubtful receivables from main operations 28.638.564 25.352.034 Provision for doubtful receivables from main operations (28.638.564) (25.352.034) Receivables from main operations 343.722.732 300.658.813 As of December 31, 2019 and 2018, mortgages and collaterals obtained for receivables are disclosed as follows: December 31, 2019 December 31, 2018 Letters of guarantees 13.852.965 11.742.907 Other Guarantees 240.000 - Total 14.092.965 11.742.907 Provisions for overdue receivables and receivables not due yet a) Receivables under legal or administrative follow up (due): TL 28.638.564 for main operations (December 31, 2018: TL 25.352.034) and TL 754.788 (December 31, 2018: TL 409.363) for other receivables. b) Provision for premium receivables (due): None (December 31, 2018: None). The Company’s receivables from and payables to shareholders, associates and subsidiaries are detailed in note 45 - Related party transactions . The details of the receivables and payables denominated in foreign currencies and foreign currency rates used for the translation are presented in Note 4.2- Financial risk management. 13 Derivative financial assets As of December 31, 2019 and 2018, the Company has no derivative financial instruments.