MILLI RE 2020 ANNUAL REPORT

Activities and Major Developments Related to Activities General Information Financial Rights Provided to the Members of the Governing Body and Senior Executives Research & Development Activities Milli Re Annual Report 2020 8 1929 Milli Re was founded by İşbank with a capital of TL 1,000,000 to operate the compulsory reinsurance system. 1963 The management of “Turkish Reinsurance Pool”, established to write international business, was handed over to Milli Re in accordance with the agreement signed with Turkish insurance companies. 1967 The management of “RCD Reinsurance Pool”, established under the agreement of “Cooperation for Regional Development” between Turkey, Iran and Pakistan, was handed over to Milli Re. 1970 The management of the system known as “Decree Pool”, established according to Decree no. 17 set out by the Ministry of Finance on the Protection of the Value of Turkish Currency was handed over to Milli Re. “Türk Sigorta Enstitüsü Vakfı” (Turkish Insurance Institute Foundation) was established by Milli Re and the Association of the Insurance and Reinsurance Companies of Turkey. 1974 The management of “FAIR Reinsurance Pool” established by the Federation of Afro‑Asian Insurers & Reinsurers (FAIR) was handed over to Milli Re. 1982 Compulsory reinsurance cessions to Milli Re on Quota Share basis were changed to Surplus basis. 1986 MİLTAŞ Sports Complex, which hosts the traditional “International Insurers Tennis Tournament” organization was built by Milli Re and was brought into the service of the market. 1991 Milli Re began to offer conventional reinsurance capacity through reinsurance treaties apart from “Compulsory Cessions” and “Decree Pool”. First issue of “Reasürör” magazine was published. The magazine is a reference source with full academic content on re/ insurance, including compilations, translations, interviews, and statistical data on various lines. 1993 Milli Re moved from its head office in Istanbul Sirkeci to its new office building constructed in Teşvikiye. 1994 Milli Re Art Gallery, a corporate gallery where art works by prominent local and foreign artists are exhibited, was opened. 1996 Milli Re Chamber Orchestra was established. The orchestra is made up of artists, most of whom also continue their solo music careers, and the orchestra performs with the participation of renowned local and international artists and conductors. 2000 Turkish Catastrophe Insurance Pool (TCIP), which was set up relevant the “Compulsory Earthquake Insurance” system established by the Undersecretariat of Turkish Treasury became operational under the management of Milli Re. 2001 Risk‑based Compulsory Reinsurance System came to an end. Milestones