MILLIRE 2021 ANNUAL REPORT

PAGE UNCONSOLIDATED BALANCE SHEET 170 UNCONSOLIDATED STATEMENT OF INCOME 175 UNCONSOLIDATED STATEMENT OF CHANGES IN EQUITY 178 UNCONSOLIDATED STATEMENT OF CASH FLOWS 180 UNCONSOLIDATED STATEMENT OF PROFIT DISTRIBUTION 181 NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS 182-256 NOTE 1 GENERAL INFORMATION 182 NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 184 NOTE 3 SIGNIFICANT ACCOUNTING ESTIMATES AND REQUIREMENTS 210 NOTE 4 MANAGEMENT OF INSURANCE AND FINANCIAL RISK 211 NOTE 5 SEGMENT INFORMATION 223 NOTE 6 TANGIBLE ASSETS 224 NOTE 7 INVESTMENT PROPERTIES 226 NOTE 8 INTANGIBLE ASSETS 227 NOTE 9 INVESTMENTS IN ASSOCIATES 227 NOTE 10 REINSURANCE ASSETS AND LIABILITIES 228 NOTE 11 FINANCIAL ASSETS 229 NOTE 12 LOANS AND RECEIVABLES 233 NOTE 13 DERIVATIVE FINANCIAL ASSETS 234 NOTE 14 CASH AND CASH EQUIVALENTS 234 NOTE 15 EQUITY 235 NOTE 16 OTHER RESERVES AND EQUITY COMPONENT OF DISCRETIONARY PARTICIPATION 238 NOTE 17 INSURANCE CONTRACT LIABILITIES AND REINSURANCE ASSETS 239 NOTE 18 INVESTMENT CONTRACT LIABILITIES 242 NOTE 19 TRADE AND OTHER PAYABLES AND DEFERRED INCOME 243 NOTE 20 FINANCIAL LIABILITIES 243 NOTE 21 DEFERRED TAXES 244 NOTE 22 RETIREMENT BENEFIT OBLIGATIONS 244 NOTE 23 PROVISION FOR OTHER LIABILITIES AND EXPENSE ACCRUALS 246 NOTE 24 NET INSURANCE PREMIUM REVENUE 247 NOTE 25 FEE REVENUE 247 NOTE 26 INVESTMENT INCOME 247 NOTE 27 NET ACCRUAL INCOME OF FINANCIAL ASSETS 247 NOTE 28 ASSETS HELD AT FAIR VALUE THROUGH PROFIT OR LOSS 247 NOTE 29 INSURANCE RIGHTS AND CLAIMS 247 NOTE 30 INVESTMENT CONTRACT BENEFITS 247 NOTE 31 OTHER EXPENSES 247 NOTE 32 OPERATING EXPENSES 248 NOTE 33 EMPLOYEE BENEFIT EXPENSES 248 NOTE 34 FINANCIAL COSTS 248 NOTE 35 INCOME TAX 249 NOTE 36 NET FOREIGN EXCHANGE GAINS 249 NOTE 37 EARNINGS PER SHARE 249 NOTE 38 DIVIDENDS PER SHARE 250 NOTE 39 CASH GENERATED FROM OPERATIONS 251 NOTE 40 CONVERTIBLE BOND 251 NOTE 41 REDEEMABLE PREFERENCE SHARES 251 NOTE 42 RISKS 251 NOTE 43 COMMITMENTS 251 NOTE 44 BUSINESS COMBINATIONS 251 NOTE 45 RELATED PARTY TRANSACTIONS 252 NOTE 46 SUBSEQUENT EVENTS 255 NOTE 47 OTHER 255 CONTENTS 169 MİLLÎ REASÜRANS ANNUAL REPORT 2021 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