MILLIRE 2021 ANNUAL REPORT

FINANCIAL STATUS 65 MİLLİ RE ANNUAL REPORT 2021 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 Key Ratios (%) 2021 2020 2019 1.Capital Adequacy Ratios Gross Premiums/ Average Shareholders’ Equity 88 76 86 Average Shareholders’ Equity/Total Assets 39 43 43 Average Shareholders’ Equity/Net Technical Provisions 74 89 87 2.Asset Quality and Liquidity Ratios Liquid Assets/Total Assets 54 50 50 Liquidity Ratio 157 161 159 Current Ratio 119 124 121 Premium and Reinsurance Receivables/Total Assets 9 8 8 3.Operational Ratios Retention Ratio 87 87 88 Paid Claims/Paid Claims+Outstanding Claims 37 38 40 4.Profitability Ratios Gross Loss Ratio 95 76 82 Expense Ratio 25 27 26 Combined Ratio 120 103 108 Net Loss Ratio 108 86 87 Expense Ratio 28 31 30 Combined Ratio 136 117 117 Profit Before Tax/Gross Written Premiums 27 21 21 Gross Financial Profit/ Gross Written Premiums 18 17 16 Technical Profit/Gross Written Premiums 9 4 5 Profit Before Tax/Total Assets 9 7 8 Profit Before Tax/Average Shareholders’ Equity (Excluding Profit) 29 18 21 Key Figures 2021 2020 2019 2018 2017 Gross Premiums 2,842,605,065 1,820,275,306 1,658,819,927 1,320,177,533 1,085,712,889 Technical Division Balance 221,154,114 62,475,722 85,063,787 100,660,204 63,180,784 Investment Income 1,353,558,990 685,087,147 661,184,678 644,537,098 378,157,716 Investment Expenses (865,902,058) (368,475,610) (403,360,732) (425,812,893) (192,041,506) Other Income and Expenses (30,947,807) (1,457,582) 6,850,022 (13,488,014) (2,143,249) Gross Profit/Loss for the Period 677,863,239 377,629,677 349,737,755 305,896,395 247,153,745 Taxation (128,897,591) (29,030,769) (37,227,141) (27,682,983) (44,131,400) Profit/Loss for the Period 548,965,648 348,598,908 312,510,614 278,213,412 203,022,345 Shareholders’ Equity 3,000,422,620 2,638,633,525 2,135,840,889 1,736,300,262 1,587,067,868 Total Assets 7,183,128,434 5,506,298,142 4,531,965,239 3,378,241,986 3,179,504,466