MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 170 INFORMATION ON CONSOLIDATED SUBSIDIARIES Anadolu Anonim Türk Sigorta Şirketi Writing Non-life insurance and reinsurance business, Anadolu Sigorta was founded on 1925 at the initiative of Mustafa Kemal Atatürk and under the leadership of İşbank, Turkey’s first national bank. Pioneering its sector ever since it was founded, Anadolu Sigorta is committed to offering only high-quality products and services and to ensuring their sustainability with its experienced staff, solid financial and high-tech infrastructure, dynamic approach towards continuous development and improvement, and extensive network of expert agents. 48% of Anadolu Sigorta’s shares are quoted on Borsa İstanbul (BİST) National Market under the symbol “ANSGR”. 57.31% of the Company’s share is held by Millî Reasürans T.A.Ş. Headquartered in İstanbul, Anadolu Sigorta brings its products to its customers via regional offices in İstanbul (2), Ankara, Adana, Antalya, Bursa, Samsun, Trabzon, and İzmir, a sales office in Gaziantep, a branch in the Turkish Republic of Northern Cyprus, and about 2,298 agencies. Anadolu Sigorta uses bank branches within the bancassurance network as fundamental element of its service delivery in Turkey. Together with all İşbank branches, Türkiye Sınai Kalkınma Bankası, Arap Türk Bankası, Alternatifbank, Albaraka Türk Katılım Bankası and Finansbank branches are serving as Anadolu Sigorta agencies. In 2019, Anadolu Sigorta expanded its total premium production by 16% year-on-year on basis to TL 6.6 billion and controls an 11.41% share of the overall market among Non-life companies. Anadolu Sigorta registered its highest premium production in 2019 in Land Vehicles Liability with TL 1,807 million, followed by Land Vehicles with TL 1,305 million, Fire and Natural Disasters with 1,172 million and Sickness/Health with TL 823 million. According to the unconsolidated financial statements, Anadolu Sigorta’s total assets reached TL 9.8 billion at the end of 2019 increasing by 23.6% while shareholders’ equity stood at TL 2.2 billion with an increase of 30.9%. Anadolu Sigorta with the net profit for the year of TL 403.1 million with an increase of 31% compared to the previous year, successfully achieved its sustainable profit target in 2019 as well.