MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 180 Millî Reasürans Türk Anonim Şirketi The accompanying notes are an integral part of these consolidated financial statements. (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) LIABILITIES III- Short-Term Liabilities Note Audited Current Period December 31, 2019 Audited Prior Period December 31, 2018 A- Borrowings 19,20 63.093.304 53.578.314 1- Loans to Financial Institutions - - 2- Finance Lease Payables - - 3- Deferred Finance Lease Borrowing Costs (-) - - 4- Current Portion of Long Term Borrowings - - 5- Principal, Installments and Interests on Issued Bills (Bonds) - - 6- Other Financial Assets Issued - - 7- Value Differences on Issued Financial Assets (-) - - 8- Other Financial Borrowings (Liabilities) 19,20 63.093.304 53.578.314 B- Payables From Main Operations 19 791.892.340 697.369.940 1- Payables Due to Insurance Operations 19 511.069.869 418.003.864 2- Payables Due to Reinsurance Operations 19 59.545.497 65.676.883 3- Cash Deposited by Insurance & Reinsurance Companies 19 5.469.130 9.088.597 4- Payables Due to Pension Operations - - 5- Payables from Other Operations 19 219.094.708 210.877.517 6- Rediscount on Other Payables From Main Operations (-) (3.286.864) (6.276.921) C- Due to Related Parties 19 368.661 370.388 1- Due to Shareholders 19 131.570 105.548 2- Due to Affiliates 19 - 38.024 3- Due to Subsidiaries - - 4- Due to Joint Ventures - - 5- Due to Personnel 211.925 214.924 6- Due to Other Related Parties 25.166 11.892 D- Other Payables 19 133.712.351 97.294.815 1- Deposits and Guarantees Received 19 9.790.921 9.454.992 2- Due to SSI regarding Treatment Expenses 19 40.724.732 32.118.883 3- Other Payables 19 83.941.498 56.972.083 4- Discount on Other Payables (-) 19 (744.800) (1.251.143) E- Insurance Technical Reserves 17 8.117.368.295 6.772.584.798 1- Unearned Premiums Reserve - Net 17 2.955.076.893 2.482.822.144 2- Unexpired Risk Reserves - Net 17 73.827.230 69.220.581 3- Mathematical Reserves - Net 17 38.691 73.795 4- Outstanding Claims Reserve - Net 17 5.088.425.481 4.220.468.278 5- Provision for Bonus and Discounts - Net - - 6- Other Technical Reserves - Net - - F- Taxes and Other Liabilities and Relevant Provisions 19 136.600.008 57.436.673 1- Taxes and Dues Payable 19 59.876.928 49.975.341 2- Social Security Premiums Payable 19 5.580.063 4.252.897 3- Overdue, Deferred or By Installment Taxes and Other Liabilities - - 4- Other Taxes and Liabilities - - 5- Corporate Tax Liability Provision on Period Profit 19 201.913.417 106.996.427 6- Prepaid Taxes and Other Liabilities on Period Profit (-) 19 (130.770.400) (103.787.992) 7- Provisions for Other Taxes and Liabilities - - G- Provisions for Other Risks - - 1- Provision for Employment Termination Benefits - - 2- Pension Fund Deficit Provision - - 3- Provisions for Costs - - H- Deferred Income and Expense Accruals 19 221.449.286 181.605.882 1- Deferred Commission Income 10,19 109.664.368 101.626.238 2- Expense Accruals 19 111.613.442 79.718.689 3- Other Deferred Income 19 171.476 260.955 I- Other Short Term Liabilities 23 2.905.069 2.399.183 1- Deferred Tax Liability - - 2- Inventory Count Differences - - 3- Other Short Term Liabilities 23 2.905.069 2.399.183 III - Total Short Term Liabilities 9.467.389.314 7.862.639.993 CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2019