MILLIRE 2021 ANNUAL REPORT

PAGE UNCONSOLIDATED BALANCE SHEET 90 UNCONSOLIDATED STATEMENT OF INCOME 95 UNCONSOLIDATED STATEMENT OF CHANGES IN EQUITY 98 UNCONSOLIDATED STATEMENT OF CASH FLOWS 100 UNCONSOLIDATED STATEMENT OF PROFIT DISTRIBUTION 101 NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS 102-162 NOTE 1 GENERAL INFORMATION 102 NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 103 NOTE 3 SIGNIFICANT ACCOUNTING ESTIMATES AND REQUIREMENTS 124 NOTE 4 MANAGEMENT OF INSURANCE AND FINANCIAL RISK 125 NOTE 5 SEGMENT INFORMATION 135 NOTE 6 TANGIBLE ASSETS 135 NOTE 7 INVESTMENT PROPERTIES 136 NOTE 8 INTANGIBLE ASSETS 137 NOTE 9 INVESTMENTS IN ASSOCIATES 138 NOTE 10 REINSURANCE ASSETS AND LIABILITIES 139 NOTE 11 FINANCIAL ASSETS 140 NOTE 12 LOANS AND RECEIVABLES 143 NOTE 13 DERIVATIVE FINANCIAL ASSETS 143 NOTE 14 CASH AND CASH EQUIVALENTS 144 NOTE 15 EQUITY 144 NOTE 16 OTHER RESERVES AND EQUITY COMPONENT OF DISCRETIONARY PARTICIPATION 147 NOTE 17 INSURANCE CONTRACT LIABILITIES AND REINSURANCE ASSETS 147 NOTE 18 INVESTMENT CONTRACT LIABILITIES 150 NOTE 19 TRADE AND OTHER PAYABLES AND DEFERRED INCOME 150 NOTE 20 FINANCIAL LIABILITIES 151 NOTE 21 DEFERRED TAX 151 NOTE 22 RETIREMENT BENEFIT OBLIGATIONS 152 NOTE 23 OTHER LIABILITIES AND EXPENSE ACCRUALS 153 NOTE 24 NET INSURANCE PREMIUM REVENUE 154 NOTE 25 FEE REVENUE 154 NOTE 26 INVESTMENT INCOME 154 NOTE 27 NET INCOME ACCRUAL ON FINANCIAL ASSETS 154 NOTE 28 ASSET HELD AT FAIR VALUE THROUGH PROFIT OR LOSS 154 NOTE 29 INSURANCE RIGHTS AND CLAIMS 154 NOTE 30 INVESTMENT CONTRACT BENEFITS 154 NOTE 31 OTHER EXPENSES 154 NOTE 32 OPERATING EXPENSES 155 NOTE 33 EMPLOYEE BENEFIT EXPENSES 155 NOTE 34 FINANCIAL COSTS 155 NOTE 35 INCOME TAXES 155 NOTE 36 NET FOREIGN EXCHANGE GAINS 156 NOTE 37 EARNINGS PER SHARE 156 NOTE 38 DIVIDENDS PER SHARE 156 NOTE 39 CASH GENERATED FROM OPERATIONS 157 NOTE 40 CONVERTIBLE BONDS 157 NOTE 41 REDEEMABLE PREFERENCE SHARES 157 NOTE 42 RISKS 157 NOTE 43 COMMITMENTS 157 NOTE 44 BUSINESS COMBINATIONS 157 NOTE 45 RELATED PARTY TRANSACTIONS 158 NOTE 46 SUBSEQUENT EVENTS 161 NOTE 47 OTHER 162 CONTENTS 89 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