MILLIRE_2019_Annual Report

243 Milli Re Annual Report 2019 Activities and Major Developments Related to Activities 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 General Information Financial Rights Provided to the Members of the Governing Body and Senior Executives Research & Development Activities Millî Reasürans Türk Anonim Şirketi NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) (Currency: Turkish Lira (TL)) As at 31 December 2019 and 2018, receivables from main operations are detailed as follows: December 31, 2019 December 31, 2018 Receivables from insurance companies 192.271.606 148.133.885 Receivables from reinsurance companies (Note 10) 162.784.152 122.576.181 Receivables from agencies, brokers and intermediaries 76.206.486 77.713.598 Total receivables from reinsurance operations, net 431.262.245 348.423.664 Receivables from agencies, brokers and other intermediaries Receivables from insurance and reinsurance companies 1.167.036.824 28.031.706 1.047.189.149 21.511.252 Long term receivable which is bank guarantee and three months credit card 198.701.172 143.082.277 Salvage and subrogation receivables (Note 2.21) 61.848.008 60.020.233 Receivables from policyholders 32.225.302 41.143.149 Total receivables from insurance operations, net 1.487.843.012 1.312.946.060 Cash deposited to insurance and reinsurance companies (Note 4.2) 293.628.897 188.736.338 Provisions for receivables from insurance operations - subrogation receivables (Note 2.21) (28.174.144) (16.172.745) Doubtful receivables from main operations - premium receivables 63.483.134 57.039.003 Provision for doubtful receivables from main operations - premium receivables (63.483.134) (57.039.003) Doubtful receivables from insurance operations - subrogation receivables 325.924.262 265.088.561 Provisions for doubtful receivables from insurance operations - subrogation receivables (325.924.262) (265.088.561) Receivables from main operations 2.184.560.010 1.833.933.317 As of December 31, 2019 and 2018, mortgages and collaterals obtained for receivables are disclosed as follows: December 31, 2019 December 31, 2018 Mortgage notes 113.964.477 79.813.638 Letters of guarantees 97.755.103 120.487.796 Other guarantees 79.931.851 78.125.186 Government bonds and treasury bills 2.878.656 2.878.656 Total 294.530.087 281.305.276 Provisions for overdue receivables and receivables not due yet a) Receivables under legal or administrative follow up (due): TL 63.483.134 for main operations (December 31, 2018: TL 57.039.003) and TL 754.788 (December 31, 2018: TL 409.363) for other receivables. b) Provision for premium receivables (due): None (December 31, 2018: None). c) Provision for subrogation receivables: TL 354.098.406 (December 31, 2018: TL 281.261.306). The Company’s receivables from and payables to shareholders, associates and subsidiaries are detailed in Note 45 - Related party transactions. The details of the receivables and payables denominated in foreign currencies and foreign currency rates used for the translation are presented in Note 4.2- Financial risk management .