MILLIRE_2019_Annual Report

252 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) December 31, 2019 December 31, 2018 Deferred commission expenses at the beginning of the period 461.641.048 384.974.032 Commissions accrued during the period (Note 32) 1.254.393.951 914.371.048 Commissions expensed during the period (1.160.850.005) (837.704.032) Deferred commission expenses at the end of the period 555.184.994 461.641.048 (*) Commission expenses accounted under reinsurance commissions are included. Individual pension funds None. 18 Investment contract liabilities None. 19 Trade and other payables and deferred income December 31, 2019 December 31, 2018 Financial payables 117.648.540 53.578.314 Payables from main operations 796.914.881 700.067.699 Other payables 133.712.351 97.294.815 Short/long term deferred income and expense accruals 221.449.286 181.638.382 Taxes and other liabilities and similar obligations 136.600.008 57.436.673 Due to related parties (Note 45) 368.661 370.388 Total 1.406.693.727 1.090.386.271 Short-term liabilities 1.347.115.950 1.087.656.012 Long-term liabilities 59.577.777 2.730.259 Total 1.406.693.727 1.090.386.271 As of December 31, 2019, other payables amounting to TL 133.712.351 (December 31, 2018: TL 97.294.815) consist of treatment cost payables to SSI amounting to TL 39.979.932 (December 31, 2018: TL 30.867.740) payables to Tarsim and DASK and outsourced benefits and services amounting to TL 83.941.498 (December 31, 2018: TL 56.972.083) and deposits and guarantees received amounting to TL 9.790.921 (December 31, 2018: 9.454.992). Payables arising from main operations of the Group as of December 31, 2019 and 2018 are as follows: December 31, 2019 December 31, 2018 Payables to reinsurance companies (Note 10) 503.446.108 421.304.226 Payables to agencies, brokers and intermediaries 72.191.799 65.074.280 Cash deposited by insurance and reinsurance companies 5.469.130 9.088.597 Total payables arising from reinsurance and insurance operations 581.107.037 495.467.103 Payables arising from other operating activities 215.807.844 204.600.596 Payables arising from main operations 796.914.881 700.067.699