MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 97 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. I- TECHNICAL SECTION Note Audited Current Period December 31, 2019 Audited Prior Period December 31, 2018 A- Non-Life Technical Income 1.733.602.618 1.504.350.816 1- Earned Premiums (Net of Reinsurer Share) 1.290.042.473 1.015.961.002 1.1 - Written Premiums (Net of Reinsurer Share) 17 1.437.381.633 1.136.728.102 1.1.1 - Gross Written Premiums (+) 17 1.641.496.087 1.299.862.846 1.1.2 - Ceded Premiums to Reinsurers (-) 10,17 (204.114.454) (163.134.744) 1.1.3 - Ceded Premiums to SSI (-) - - 1.2- Change in Unearned Premiums Reserve(Net of Reinsurers Shares and Reserves Carried Forward)(+/-) 17,29 (127.117.873) (123.298.148) 1.2.1 - Unearned Premiums Reserve (-) 17 (154.360.090) (134.980.956) 1.2.2 - Reinsurance Share of Unearned Premiums Reserve (+) 10,17 27.242.217 11.682.808 1.2.3 - SSI of Unearned Premiums Reserve (+) - - 1.3- Changes in Unexpired Risks Reserve (Net of Reinsurer Share and Reserves Carried Forward)(+/-) 29 (20.221.287) 2.531.048 1.3.1 - Unexpired Risks Reserve (-) 29 (20.537.046) 2.720.045 1.3.2 - Reinsurance Share of Unexpired Risks Reserve (+) 29 315.759 (188.997) 2- Investment Income Transferred from Non-Technical Part 348.001.715 338.043.300 3- Other Technical Income (Net of Reinsurer Share) 95.558.430 150.346.514 3.1 - Gross Other Technical Income (+) 95.553.804 150.330.727 3.2 - Reinsurance Share of Other Technical Income (-) 4.626 15.787 4- Accrued Subrogation and Salvage Income (+) - - B- Non-Life Technical Expense (-) (1.652.151.515) (1.409.129.382) 1- Total Claims (Net of Reinsurer Share) (1.149.064.080) (953.879.013) 1.1- Claims Paid (Net of Reinsurer Share) 17,29 (943.198.052) (725.361.560) 1.1.1 - Gross Claims Paid (-) 17 (980.374.026) (759.354.911) 1.1.2 - Reinsurance Share of Claims Paid (+) 10,17 37.175.974 33.993.351 1.2- Changes in Outstanding Claims Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 17,29 (205.866.028) (228.517.453) 1.2.1 - Outstanding Claims Reserve (-) 17 (246.897.057) (229.099.909) 1.2.2 - Reinsurance Share of Outstanding Claims Reserve (+) 10,17 41.031.029 582.456 2- Changes in Bonus and Discount Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) - - 2.1 - Bonus and Discount Reserve (-) - - 2.2 - Reinsurance Share of Bonus and Discount Reserve (+) - - 3- Changes in Other Technical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 29 (38.578.905) (29.825.822) 4- Operating Expenses (-) 32 (464.508.530) (425.424.547) 5- Changes in Mathematical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) - 5.1- Mathematical Reserves (-) - - 5.2- Reinsurance Share of Mathematical Reserves (+) - - 6.- Other Technical Expenses (-) - - 6.1.- Gross Other Technical Expenses (-) - - 6.2.- Reinsurance Share of Other Technical Expenses (+) - - C- Non Life Technical Net Profit (A-B) 81.451.103 95.221.434 D- Life Technical Income 20.239.081 18.813.060 1- Earned Premiums (Net of Reinsurer Share) 16.225.200 15.537.709 1.1 - Written Premiums (Net of Reinsurer Share) 17 15.523.242 18.253.642 1.1.1 - Gross Written Premiums (+) 17 17.323.840 20.314.687 1.1.2 - Ceded Premiums to Reinsurers (-) 10,17 (1.800.598) (2.061.045) 1.2- Change in Unearned Premiums Reserve(Net of Reinsurers Shares and Reserves Carried Forward)(+/-) 17,29 701.958 (2.715.933) 1.2.1- Unearned Premium Reserves (-) 17 856.646 (2.909.016) 1.2.2- Unearned Premium Reserves Reinsurer Share (+) 10,17 (154.688) 193.083 1.3- Changes in Unexpired Risks Reserve (Net of Reinsurer Share and Reserves Carried Forward)(+/-) - - 1.3.1- Unexpired Risks Reserves (-) - - 1.3.2- Unexpired Risks Reserves Reinsurer Share (+) - - 2- Life Branch Investment Income 3.896.284 3.194.833 3- Unrealized Income from Investments - - 4- Other Technical Income (Net of Reinsurer Share) (+/-) 117.597 80.518 4.1- Gross Other Technical Income (+/-) 117.597 89.933 4.2- Reinsurance Share of Other Technical Income (+/-) - (9.415) 5- Accrued Subrogation and Salvage Income (+) - - UNCONSOLIDATED STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2019