MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 165 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)) 45 Related party transactions For the purpose of the accompanying unconsolidated financial statements, shareholders, key management and members of board of directors together with their families and companies controlled by or affiliated with them, and associated companies are considered and referred to as related parties. The related party balances as of December 31, 2019 and 2018 are as follows: December 31, 2019 December 31, 2018 Türkiye İş Bankası A.Ş. 1.413.861.995 1.188.043.184 Other 3.034 1.883 Banks 1.413.865.029 1.188.045.067 Equity shares of the related parties (Note 11) 77.776.570 50.045.854 Investment funds founded by İş Portföy Yönetimi A.Ş. ( Note 11) 227.606.541 101.970.131 Eurobonds issued by Türkiye İş Bankası A.Ş. (Note 11) 74.327.048 - Bond issued by Türkiye İş Bankası A.Ş. (Note 11) 26.200.250 - Bonds issued by İş Finansal Kiralama A.Ş. (Note 11) - 8.759.700- Financial assets 405.910.409 160.775.685 Ziraat Sigorta A.Ş. 3.586.897 2.872.372 Groupama Sigorta A.Ş 3.416.718 - Anadolu Sigorta 2.551.533 4.208.694 Anadolu Hayat Emeklilik A.Ş 901.580 1.006.559 İstanbul Umum Sigorta A.Ş 169.977 161.487 Hdi Sigorta A.Ş. 102.879 - Liberty Sigorta A.Ş.(HDI Sigorta A.Ş.) 87.846 - Ziraat Hayat ve Emeklilik 86.250 - Receivables from main operations 10.903.680 8.249.112 Due to shareholders 116.208 97.467 Due to other related parties 25.166 11.892 Due to related parties 141.374 109.359 Axa Sigorta A.Ş 4.481.577 10.596.518 Allianz Sigorta A.Ş 1.836.870 582.788 Ergo Sigorta A.Ş. (HDI Sigorta A.Ş.) 1.519.469 693.757 Güven Sigorta T.A.Ş 124.933 209.260 Liberty Sigorta A.Ş.(HDI Sigorta A.Ş.) 65.482 - Groupama Sigorta A.Ş 41.766 609.487 İstanbul Umum Sigorta A.Ş 22.541 22.993 Anadolu Sigorta 13.406 13.869 Anadolu Hayat Emeklilik A.Ş - 278.417 Ziraat Hayat ve Emeklilik - 18.039 Payables from main operations 8.106.044 13.025.128 No guarantees have been taken against receivables from related parties. There are no doubtful receivables and payables from shareholders, subsidiaries and joint ventures. No guarantees, commitments, guarantee letters, advances and endorsements given in favour of shareholders, associates and subsidiaries.