MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 70 2019 TECHNICAL RESULTS Milli Re’s technical operations resulted with TL 85.1 million of profit, owing mainly to increased premium income, contribution of other income and expense accounts and net income transferred from non-technical accounts. Technical Profitability (TL) Line of Business 2019 2018 2017 Accident 19,270,398 9,654,743 10,083,882 Health (23,654,163) 336,021 2,399,238 Land Vehicles (2,082,930) 5,243,438 (4,417,497) Railway Vehicles - - - Air Vehicles 822,139 (134,925) (82,917) Sea Vehicles (13,176,073) (4,004,357) (18,198,146) Marine 21,999,869 18,564,180 8,511,107 Fire & Natural Disasters 110,252,677 97,531,101 76,624,490 General Damages (4,986,851) 1,768,730 13,250,496 Land Vehicles Liability (8,741,515) (29,263,167) (32,593,428) Air Vehicles Liability - - - Sea Vehicles Liability 729.938 (350,778) 177,638 General Liability 5,898,370 (4,138,904) 9,809,147 Credit (29,278) (188,397) 2,385 Fidelity Guarantee (205,730) (535,041) (1,169,210) Financial Losses (25,064,359) (283,129) (1,412,299) Legal Protection 418,611 1,021,919 1,150,712 Total Non-life 81,451,103 95,221,434 64,135,598 Life 3,612,684 5,438,770 (954,814) Total 85,063,787 100,660,204 63,180,784 Development of technical ratios per underwriting year are given below in order to provide a better assessment of the implication of the revisions made in Company business model in line with the Company strategy. Technical Ratios per Underwriting Year (net) (%) 120 100 80 60 40 20 0 2015 2016 2017 2018 2019 Loss Ratio Combined Ratio 107 100 108 94 60 32 65 81 73 79