MILLIRE_2019_Annual Report

261 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)) 45 Related party transactions For the purpose of the accompanying consolidated financial statements, shareholders, key management and members of board of directors together with their families and companies controlled by or affiliated with them, and associated companies are considered and referred to as related parties. The related party balances as of December 31, 2019 and 2018 are as follows: December 31, 2019 December 31, 2018 Türkiye İş Bankası AŞ 1.774.359.555 2.056.738.212 Other 3.137 1.883 Banks 1.774.362.692 2.056.740.095 Investment funds founded by İş Portföy Yönetimi A.Ş . (Note 11) 1.085.620.877 376.530.484 Bond issued by Türkiye Sınai Kalkınma Bankası A.Ş. (Note 11) 41.955.002 52.951.656 Eurobond issued by Türkiye İş Bankası (Note 11) 74.327.048 Equity shares of the related parties (Note 11) 77.776.570 50.045.854 Bond issued by Türkiye İş Bankası (Note 11) 96.283.796 21.287.330 Investment funds founded by İşbank AG (Note 11) 17.113.532 13.234.978 Bond issued by İş Finansal Kiralama A.Ş. (Note 11) - 8.759.700 Financial assets 1.393.076.825 522.810.002 İş Gayrimenkul Yatırım Ortaklığı A.Ş. - TFRS 16 Operating leases 1.956.528 - Financial liabilities 1.956.528 - Türkiye İş Bankası A.Ş 469.586.257 426.011.481 Şişecam Sigorta Aracılık Hizmetleri A.Ş. 5.181.827 3.539.765 Ziraat Sigorta A.Ş. 3.586.897 2.872.372 Groupama Sigorta A.Ş. 3.416.718 - Anadolu Hayat Emeklilik A.Ş. 930.395 1.094.136 İstanbul Umum Sigorta A.Ş. 169.977 161.487 HDI Sigorta A.Ş 102.879 Ziraat Hayat ve Emeklilik 86.250 - Liberty Sigorta A.Ş.(HDI Sigorta A.Ş.) 87.846 - Receivables from main operations 483.149.046 433.679.241 Türkiye İş Bankası A.Ş. 11.021.482 8.419.250 Axa Sigorta A.Ş. 4.481.577 10.596.518 Allianz Sigorta A.Ş. 1.836.870 582.788 Ergo Sigorta A.Ş. (HDI Sigorta A.Ş.) 1.519.469 693.757 Şişecam Sigorta Aracılık Hizmetleri AŞ 696.535 407.838 Liberty Sigorta A.Ş.(HDI Sigorta A.Ş.) 65.482 - İstanbul Umum Sigorta A.Ş. 22.541 22.993 Groupama Sigorta A.Ş. - 609.487 Güven Sigorta T.A.Ş. - 209.260 Ziraat Hayat ve Emeklilik - 18.039 Anadolu Hayat Emeklilik A.Ş. - 278.417 Payables from main operations 19.810.655 21.838.347 Due to personnel 211.925 214.924 Due to shareholders 131.570 105.548 Due to subsidiaries - 38.024 Due to other related parties 25.166 11.892 Due to related parties 368.661 370.388 No guarantees have been taken against receivables from related parties.