MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 184 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) I- TECHNICAL SECTION Note Audited Current Period January 1- December 31, 2019 Audited Prior Period January 1- December 31, 2018 E- Life Technical Expense (16.626.397) (13.374.290) 1- Total Claims (Net of Reinsurer Share) (5.541.814) (5.607.798) 1.1- Claims Paid (Net of Reinsurer Share) 17,29 (5.425.659) (5.968.908) 1.1.1- Gross Claims Paid (-) 17 (6.307.867) (6.619.434) 1.1.2- Claims Paid Reinsurer Share (+) 10,17 882.208 650.526 1.2- Changes in Outstanding Claims Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 17,29 (116.155) 361.110 1.2.1- Outstanding Claims Reserve (-) 17 (687.868) (126.553) 1.2.2- Reinsurance Share of Outstanding Claims Reserve (+) 10,17 571.713 487.663 2- Changes in Bonus and Discount Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) - - 2.1 - Bonus and Discount Reserve (-) - - 2.2 - Reinsurance Share of Bonus and Discount Reserve (+) - - 3- Changes in Mathematical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 29 35.104 42.314 3.1- Mathematical Reserves (-) 29 35.104 42.314 3.1.1- Actuarial Mathematical Reserve (-) 29  35.104 42.314 3.1.2- Profit Share Reserve (Reserves for Life Insurance Policies Including Investment Risk) (-) - - 3.2- Reinsurer Share of Mathematical Reserves (+) - - 3.2.1- Reinsurance Share of Actuarial Mathematical Reserve (+) - - 3.2.2- Reinsurance Share of Profit Share Reserve (Reserves for Life Insurance Policies Including Investment Risk) (-) - - 4- Changes in Other Technical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 29 (186.425) (228.499) 5- Operating Expenses (-) 32 (10.933.262) (7.580.307) 6- Investment Expenses (-) - - 7- Unrealized Losses from Investments (-) - - 8- Investment Income Transferred to Non- Technical Part (-) - - F- Life Technical Profit (D-E) 3.612.684 5.438.770 G- Individual Retirement Technical Income - - 1- Fund Management Fee - - 2- Management Fee Deduction - - 3- Initial Contribution Fee - - 4- Management Fee In Case Of Temporary Suspension - - 5- Witholding tax - - 6- Increase in Market Value of Capital Commitment Advances  - - 7- Other Technical Income - - H- Individual Retirement Technical Expense - - 1- Fund Management Expenses (-) - - 2- Decrease in Market Value of Capital Commitment Advances (-) - - 3- Operating Expenses (-) - - 4- Other Technical Expense (-) - - I- Individual Retirement Technical Profit (G-H) - - CONSOLIDATED STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2019