MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 7 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 2001 Risk-based Compulsory Reinsurance System came to an end. 2005 Milli Re became the only active local reinsurance company in the Turkish market after the acquisition of Destek Reasürans T.A.Ş. 2006 Milli Re began to write business from international markets. Decree Pool was terminated. 2007 Singapore Branch, which plays an important role for Milli Re in international markets, was opened. 2010 Milli Re acquired an additional 35.53% stake in Anadolu Sigorta, another group company. Accordingly, Milli Re, Turkey’s one and only active local reinsurer increased its share in the capital of Anadolu Sigorta to 57.31%, one of the largest and well-established insurance companies in the industry. 2019 In its 91 st year of operation, by bringing its technical knowledge gained in the Turkish market to international arena with the support of its strong capitalisation, Milli Re’s paid-up capital was TL 660 million while assets reached TL 4,532 million, shareholders’ equity amounted to TL 2,136 million and premium volume was TL 1,659 million.