MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 95 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 Millî Reasürans Türk Anonim Şirketi (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) (Currency: Turkish Lira (TL)) The accompanying notes are an integral part of these unconsolidated financial statements. LIABILITIES IV- Long-Term Liabilities Note Audited Current Period December 31, 2019 Audited Prior Period December 31, 2018 A- Borrowings - - 1- Loans to Financial Institutions - - 2- Finance Lease Payables - - 3- Deferred Finance Lease Borrowing Costs (-) - - 4- Bonds Issued - - 5- Other Issued Financial Assets - - 6- Value Differences on Issued Financial Assets (-) - - 7- Other Financial Borrowings (Liabilities) - - B- Payables From Main Operations 5.022.541 2.697.759 1- Payables Due to Insurance Operations - - 2- Payables Due to Reinsurance Operations 4.2,19 5.022.541 2.697.759 3- Cash Deposited by Insurance & Reinsurance Companies - - 4- Payables Due to Pension Operations - - 5- Payables from Other Operations - - 6- Discount on Other Payables From Main Operations (-) - - C- Due to Related Parties - - 1- Due to Shareholders - - 2- Due to Affiliates - - 3- Due to Subsidiaries - - 4- Due to Joint Ventures - - 5- Due to Personnel - - 6- Due to Other Related Parties - - D- Other Payables - - 1- Deposits and Guarantees Received - - 2- Due to SSI regarding Treatment Expenses - - 3- Other Payables - - 4- Discount on Other Payables (-) - - E- Insurance Technical Reserves 17 139.752.880 100.987.550 1- Unearned Premiums Reserve - Net - - 2- Unexpired Risk Reserves - Net - - 3- Mathematical Reserves - Net - - 4- Outstanding Claims Reserve - Net - - 5- Provision for Bonus and Discounts - Net - - 6- Other Technical Reserves - Net 17 139.752.880 100.987.550 F- Other Liabilities and Provisions - - 1- Other Liabilities - - 2- Overdue, Deferred or By Installment Other Liabilities - - 3- Other Liabilities and Expense Accruals - - G- Provisions for Other Risks 4.2,23 64.258.745 53.961.104 1- Provision for Employment Termination Benefits 4.2,23 11.041.790 9.224.292 2- Provisions for Employee Pension Fund Deficits 4.2,22,23 53.216.955 44.736.812 H- Deferred Income and Expense Accruals 19 - 32.500 1- Deferred Commission Income - - 2- Expense Accruals - - 3- Other Deferred Income 19 - 32.500 I- Other Long Term Liabilities 21 22.035.437 26.848.005 1- Deferred Tax Liability 21 22.035.437 26.848.005 2- Other Long Term Liabilities - - IV- Total Long Term Liabilities 231.069.603 184.526.918 UNCONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2019