MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 65 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 FINANCIAL STRENGTH, PROFITABILITY AND SOLVENCY Milli Re’s premium production reached TL 1,659 million increasing by 26%, while paid losses was around TL 987 million and the net profit obtained was TL 313 million. Company’s Liquid Assets correspond to 50% of Total Assets. Owing to its strong and balanced maturity distribution of invested assets, Milli Re fulfilled all of its legal and commercial obligations. Details on technical results are presented in the “2019 Technical Results” section. Owing to its strong and balanced maturity distribution of invested assets, Milli Re fulfilled all of its legal and commercial obligations in 2019. Financial Results (TL million) 2019 2018 Change (%) Total Assets 4,532 3,738 21.23 Shareholders’ Equity 2,136 1,736 23.01 Technical Income 1,754 1,523 15.14 Technical Profit/Loss 85 100 (15.49) Financial Income 661 644 2.59 Financial Profit/Loss 227 177 28.10 Profit/Loss for the Period 313 278 12.33 660 313 2,276 2,136 1,659 85 1,674 1,587 1,086 63 660 2017 203 2017 2017 2017 2017 2017 2018 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2019 660 278 1,902 1,736 1,320 101 Paid-up Capital (TL million) Profit for the Period (TL million) Liquid Assets (TL million) Shareholders’ Equity (TL million) Premium Income (TL million) Technical Profit (TL million)