MILLI RE 2020 ANNUAL REPORT

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 Milli Re Annual Report 2020 9 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. 2020 In its 92 nd year of operation, by bringing its technical knowledge gained in the Turkish market to international arena with the support of its strong capitalization, Milli Re’s paid‑up capital was TL 660million while assets reached TL 5,506 million, shareholders’ equity amounted to TL 2,639 million and premium volume was TL 1,820million.