MILLIRE 2021 ANNUAL REPORT

41 MİLLİ RE 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 THE TURKISH INSURANCE INSTITUTE FOUNDATION (TSEV) WAS ESTABLISHED JOINTLY BY MİLLİ RE AND THE INSURANCE ASSOCIATION OF TURKEY IN 1970 AND CONTINUES ITS TRAINING AND CONSULTING SERVICES FOR THE INSURANCE INDUSTRY FOR THE LAST 51 YEARS. Due to the pandemic, all business lines around the globe remodeled their processes in 2020; in the same vein, TSEV also revised its activities in view of the conditions imposed by the new era. Under these extraordinary circumstances, visits aimed at raising an awareness of insurance were put on hold, and all training programs were moved to the online platform from March onwards. “Insurance Through My Lens Photography Prize Competition” was held for the third time, but an exhibition could not be opened, again, because of the pandemic. The “Basic Insurance Training Program”, organized since the establishment of the Foundation has the distinction of being one of the most comprehensive training programs in the field of insurance. A total of 3,000 participants have graduated from the program to date. As a follow-up course to this, TSEV also offers “Advanced Insurance Training Programs” which are the only project and practice-oriented training programs in the market. Besides TSEV regularly provides short-term training programs in accordance with the current market needs, introductory courses for new employees joining the insurance industry and to insurance departments of corporates as well as actuarial training programs. In addition to those, a long-term online program addressing insurers living outside of İstanbul was designed and introduced to the market in the reporting period, which is titled “Insurance from A to Z for Sales People”. Apart from insurance training, Personal Development Training Programs are also given by TSEV and the diversity in this segment increases each year. As the training programs were moved to the online platform, many people living outside of İstanbul had the opportunity to attend TSEV training programs. In 2021, 6,250 people received a total of 3,452 hours of training from TSEV through these programs. Furthermore, “Consultancy”, “Closed Group Classroom Training”, “Promotion”, and “Company Exams” were realized based on demands from companies. Training programs in English customized for companies were developed for the first time; the programs were configured in four different levels. In 2021, actuary exams and the training courses for these exams continued to be given by TSEV under the agreements made with the Central Bank of the Republic of Azerbaijan and Azerbaijan Insurers Association in 2020. In addition, Basic Insurance Training Program for the sales personnel was carried out, which is sponsored and organized by the related institutions in the Azerbaijani industry, whereas Advanced Level Training Programs for Underwriters and Reinsurance Department employees were initiated by the end of the year.