MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 67 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 Key Ratios (%) 2019 2018 2017 1 . Capital Adequacy Ratios  Gross Premiums/Shareholders’ Equity 86 79 72  Shareholders’ Equity/Total Assets 43 44 47  Shareholders’ Equity/Net Technical Provisions 87 90 103 2. Asset Quality and Liquidity Ratios  Liquid Assets/Total Assets 50 51 53  Liquidity Ratio 159 154 170  Current Ratio 121 121 128  Premium and Reinsurance Receivables/Total Assets 8 8 6 3. Operational Ratios  Retention Ratio 88 87 88  Paid Claims/Paid Claims+Outstanding Claims 40 39 39 4. Profitability Ratios Gross  Loss Ratio 82 84 69  Expense Ratio 26 27 28  Combined Ratio 108 111 97 Net  Loss Ratio 87 93 76  Expense Ratio 30 31 31  Combined Ratio 117 124 107  Profit Before Tax/Gross Written Premiums 21 23 23  Gross Financial Profit/ Gross Written Premiums 16 16 17  Technical Profit/Gross Written Premiums 5 7 6  Profit Before Tax/Average Total Assets 8 8 8  Profit Before Tax/Average Shareholders’ Equity (Excluding Profit) 21 22 19 * 2016 results were restated according to the equity method. ** 2015 results have not been restated according to the equity method. Key Figures 2019 2018 2017 2016 * 2015 ** Gross Premiums 1,658,819,927 1,320,177,533 1,085,712,889 929,965,931 996,757,231 Technical Division Balance 85,063,787 100,660,204 63,180,784 85,088,498 (29,083,231) Investment Income 661,184,678 644,537,098 378,157,716 320,507,563 292,239,946 Investment Expenses (403,360,732) (425,812,893) (192,041,506) (175,258,106) (121,243,981) Other Income and Expenses 6,850,022 (13,488,014) (2,143,249) (23,167,772) (9,859,605) Gross Profit/Loss for the Period 349,737,755 305,896,395 247,153,745 207,170,184 132,053,129 Taxation (37,227,141) (27,682,983) (44,131,400) (3,558,844) 0 Profit/Loss for the Period 312,510,614 278,213,412 203,022,345 203,611,340 132,053,129 Shareholders’ Equity 2.135.840.889 1.736.300.262 1.587.067.868 1.423.976.225 1.253.164.879 Total Assets 4.531.965.239 3.738.241.986 3.179.504.466 2.816.938.598 2.647.784.232