MILLI REASURANS ANNUAL REPORT 2018

Milli Re Annual Report 2018 68 / Financial Status Milli Re’s technical operations resulted with TL 100.7 million of profit, owing mainly to increasing premium income, contribution of other income and expense accounts and net income transferred from non-technical accounts. Technical Profitability (TL) Lines of Business 2018 2017 2016 Accident 9,654,743 10,083,882 27,027,266 Health 336,021 2,399,238 (647,733) Land Vehicles 5,243,438 (4,417,497) 2,717,711 Railway Vehicles - - - Air Vehicles (134,925) (82,917) 847,538 Sea Vehicles (4,004,357) (18,198,146) 6,389,882 Marine 18,564,180 8,511,107 12,583,486 Fire & Natural Disasters 97,531,101 76,624,490 79,364,312 General Damages 1,768,730 13,250,496 2,945,551 Land Vehicles Liability (29,263,167) (32,593,428) (29,232,771) Air Vehicles Liability - - - Sea Vehicles Liability (350,778) 177,638 (449,017) General Liability (4,138,904) 9,809,147 (13,723,573) Credit (188,397) 2,385 (50,491) Fidelity Guarantee (535,041) (1,169,210) (979,520) Financial Losses (283,129) (1,412,299) (283,632) Legal Protection 1,021,919 1,150,712 79,424 Total Non-Life 95,221,434 64,135,598 86,588,433 Life 5,438,770 (954,814) (1,499,935) Total 100,660,204 63,180,784 85,088,498 Development of technical ratios per underwriting year are given below in order to provide a better assessment of the implication of the revisions made in Company business model in line with the Company strategy. Technical Ratios per Underwriting Year 2018 TECHNICAL RESULTS (%) 120 100 80 60 40 20 0 2014 2015 2016 2017 2018 Loss Ratio Combined Ratio 106 104 97 94 61 33 67 70 76 77