MILLI REASURANS ANNUAL REPORT 2018

Millî Reasürans Türk Anonim Şirketi NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2018 (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) 9 Investments in associates December 31, 2018 December 31, 2017 Book value Participation rate % Book value Participation rate % Anadolu Hayat Emeklilik A.Ş. 199.307.030 21 ,00 196.165.815 21,00 Affiliates, net 199.307.030 196.165.815 Miltaş Turizm Inşaat Ticaret Anonim Şirketi 3.445.290 77,00 3.196.742 77,00 Subsidiaries, net 3.445.290 3.196.742 Total financial asset 202.752.320 199.362.557 Name Total assets Shareholders’ equity Retained earnings Profit for the year Audited Period Subsidiaries: Miltaş Turizm Inşaat Ticaret AŞ 4.769.334 4.474.402 - 332.283 Unaudited. December,31 2018 Associates : Anadolu Hayat Emeklilik AŞ (consolidated) 20.229.978.136 949.081.089 98.747.310 254.663.182 Audited. December, 31 2018 In the current period TL 53.479.268 (December 31, 2017: 47.584.280) of income is obtained from associates and TL 255.858 of income is obtained from subsidiaries (December 31, 2017: TL 153.904) through equity accounted consolidation method. 10 Reinsurance assets and liabilities As of December 31, 2018 and 2017, outstanding reinsurance assets and liabilities of the Group in accordance with existing reinsurance contracts are as follows: Reinsurance assets December 31, 2018 December 31, 2017 Unearned premiums reserves, ceded (Note 17) 732.987.716 551.618.894 Outstanding claims reserve, ceded (Note 4.2), (Note 17) 1.195.809.112 595.038.575 Receivables from reinsurance companies (Note 12) 122.576.181 56.929.444 Cash deposited to reinsurance companies 188.736.338 92.604.295 Total 2.240.109.347 1.296.191.208 Millî Reasürans Annual Report 2018 220 / Consolidated Financial Statements and Independent Auditors’ Report