MILLI REASURANS ANNUAL REPORT 2018

Milli Re Annual Report 2018 32 / Financial Rights Provided to the Members of the Governing Body and Senior Executives / Research & Development Activities FINANCIAL RIGHTS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RESEARCH & DEVELOPMENT ACTIVITIES The Company’s Board of Directors is composed of Chairman, Vice Chairman and seven Board members. Senior Management comprises of the General Manager and four Assistant General Managers. The benefits provided to the Senior Executives in 2017 and 2018 are given in the below table: (TL) 2018 2017 Benefits such as salary, premium, bonus, dividend etc. 6,146,805 5,505,884 Travel, accommodation, entertainment expenses, means in cash and in kind 552,139 404,806 Milli Re continued the underwriting platform project during 2018, which aims to renew the applications used for the reinsurance operations. Further to the planned completion of the project in 2019, different applications used in the Head Office and Singapore Branch will be fully standardised and integrated. In 2018, in order to improve efficiency, productivity and sustainability of the business processes of our company, proof of concept studies have been carried out in order to form a road map for the digitalization project.