MILLIRE_2019_Annual Report

250 Milli Re Annual Report 2019 Millî Reasürans Türk Anonim Şirketi NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) Outstanding claims reserves December 31, 2019 Gross Ceded Net Outstanding claims reserve at the beginning of the period 5.416.277.390 (1.195.809.112) 4.220.468.278 Claims reported during the period and changes in the estimations of outstanding claims reserves provided at the beginning of the period 5.896.974.740 (1.229.561.139) 4.667.413.601 Claims paid during the period (4.717.815.819) 918.359.421 (3.799.456.398) Outstanding claims reserve at the end of the period 6.595.436.311 (1.507.010.830) 5.088.425.481 Outstanding claims reserves December 31, 2018 Gross Ceded Net Outstanding claims reserve at the beginning of the period 4.142.682.408 (595.038.575) 3.547.643.833 Claims reported during the period and changes in the estimations of outstanding claims reserves provided at the beginning of the period 5.338.724.811 (1.275.160.333) 4.063.564.478 Claims paid during the period (4.065.129.829) 674.389.796 (3.390.740.033) Outstanding claims reserve at the end of the period 5.416.277.390 (1.195.809.112) 4.220.468.278 Total amount of guarantee that should be placed by the Group for life and non-life branches and guarantees placed for the life and non-life branches in respect of related assets As the Company is a reinsurance company, there is not any guarantee that should be placed. The details given below are the amounts of guarantees for Anadolu Sigorta A.Ş. December 31, 2019 Should be placed (*) Placed Book value Non-life: Bank deposits (Note 14) 494.545.433 447.110.868 447.225.909 Total 494.545.433 447.110.868 447.225.909 December 31, 2018 Should be placed (*) Placed Book value Non-life: Bank deposits (Note 14) 453.845.445 566.555.904 567.003.315 Total 453.845.445 566.555.904 567.003.315 (*) Insurance companies and pension companies, which are carrying out activities in life insurance and personal accident insurance branches, are required to allocate their guarantees within two months following capital adequacy calculation periods in accordance with article 7 of Regulation on Financial Structure of Insurance and Reassurance Companies and Pension Companies, regulating allocating and releasing of guarantees. Companies issue capital adequacy statement twice in June and December periods in accordance with “Regulation on Measurement and Review of Capital Adequacy of Insurance and Reassurance and Pension Companies” and submit such statements to Ministry of Treasury and Finance within 2 months. Total amount of insurance risk on a branch basis Total amount of insurance risk on branch basis for non-life insurance branch is not kept by the Group. Group’s number of life insurance policies, additions, disposals during the year and the related mathematical reserves None.