MILLI REASURANS ANNUAL REPORT 2018

Milli Re Annual Report 2018 66 / Financial Status Company’s capital adequacy is calculated in accordance with the principles set out in the “Regulation on the Measurement and Evaluation of Capital Adequacy of Insurance, Reinsurance and Pension Companies” published in the Official Gazette issue 29454 dated 23 August 2015. According to the calculation based on the principles specified by the Regulation, Milli Re had a surplus of TL 1,079 million as at end of 2018. The Company has sufficient shareholders’ equity to cover liabilities that might result from its existing and potential risks. Capital Adequacy (TL million) 2018 2017 2016 Required Capital 467 385 355 Available Capital 1,546 1,367 1,178 Capital Adequacy Result 1,079 982 823 COMPANY CAPITAL