MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 34 Anadolu Anonim Türk Sigorta Şirketi Anadolu Anonim Türk Sigorta Şirketi (Anadolu Sigorta) is Turkey’s first national insurance company, which was established on 1 April 1925. As one of the market leaders, while its premium production reached TL 6.6 billion, it has total assets of TL 9.4 billion and shareholders’ equity of TL 1.8 billion on consolidated basis in 2019. Anadolu Sigorta operates in all lines of business except Life. Fitch Ratings confirmed Anadolu Sigorta’s ratings for International Financial Strength as BB+, for National Financial Strength as AA+ (tur), both with stable outlook. Anadolu Sigorta’s shares are publicly traded on Borsa İstanbul (BİST) National Market under the symbol “ANSGR”. 48% of the Company’s shares are public, whilst 57.31% are held by Millî Reasürans T.A.Ş. Pursuant to the Communiqué on the Preparation of Consolidated Financial Statements of Insurance, Reinsurance and Pension Companies published in the Official Gazette issue 27097 dated 31 December 2008 and to the Turkish Accounting Standards 27, Milli Re consolidates the financial results of Anadolu Sigorta on a line-by-line basis since 30 September 2010. Our subsidiary, which was incorporated into the Company Solo Financial Statements with its fair value, is accounted based on equity method as at 31.12.2018. www.anadolusigorta.com.tr Miltaş Turizm İnşaat Ticaret A.Ş. Miltaş Sports Complex has been serving the insurance market since 1986 with its facilities for various sports, particularly tennis and basketball. Milli Re has 77% share in Miltaş Turizm İnşaat Ticaret A.Ş. Within the context of the exception stipulated in the Communiqué on the Preparation of Consolidated Financial Statements of Insurance, Reinsurance and Pension Companies published in the Official Gazette issue 27097 dated 31 December 2008, Miltaş Turizm İnşaat Ticaret A.Ş., which is a subsidiary of the Company, is excluded from the scope of consolidation, due to the fact that the subsidiary’s total assets correspond to less than 1% of the Company’s total assets. Our subsidiary, which was incorporated into the Company Solo Financial Statements with its cost value, is accounted based on equity method as at 31.12.2018. www.miltasturizm.com.tr AFFILIATES