|
STATEMENT OF INCOME
|
|
(31.12.1997 - 31.12.1998)
|
| |
| STATEMENT OF INCOME (in Million TL) |
31.12.1997
|
31.12.1998
|
| |
| I- TECHNICAL INCOME |
35.684.941
|
83.157.565
|
| Premiums Received |
21.618.743
|
37.002.124
|
| Commissions Received |
2.624.917
|
4.666.211
|
| Reinsurers' Share in Losses
Paid |
4.325.713
|
17.658.297
|
| Technical Reserves Carried
Forward (Net) |
3.167.576
|
7.305.545
|
| Reserves
for Unearned Premium |
1.693.560
|
3.196.421
|
| Reserves
for Outstanding Losses |
258.477
|
633.986
|
|
Mathematical Reserves for Life Branch |
1.212.347
|
2.733.412
|
| Reserves
for Outstanding Losses for Life Branch |
3.192
|
21.726
|
| Reserves
for Profit Share in Life Branch |
0
|
0
|
| Other
Technical Reserves |
0
|
0
|
| Reinsurers' Share in
Technical Reserves Allocated |
2.855.444
|
12.451.718
|
|
Reinsurers' Share in Reserves for Unearned Premium |
2.529.429
|
5.097.514
|
|
Reinsurers' Share in Reserves for Outstanding Losses |
318.103
|
7.340.108
|
|
Reinsurers' Share in Mathematical Reserves for Life Branch |
0
|
0
|
|
Reinsurers' Share in in Reserves for Outstanding Losses for Life Br. |
7.912
|
14.096
|
|
Reinsurers' Share in Reserves for Profit Share for Life Branch |
0
|
0
|
|
Reinsurers' Share of Other Technical Reserves |
0
|
0
|
| Other Income |
1.092.548
|
4.073.670
|
| |
| II- TECHNICAL EXPENSES (-) |
-33.682.762
|
-79.457.117
|
| Premiums Paid to Reinsurers (-) |
-8.753.008
|
-18.952.442
|
| Commissions Paid (-) |
-2.907.493
|
-4.951.004
|
| Losses Paid (-) |
-11.666.994
|
-29.151.727
|
| Technical Reserves Allocated (-) |
-10.341.267
|
-26.284.921
|
| Reserves
for Unearned Premium
(-) |
-6.445.850
|
-10.190.091
|
| Reserves
for Outstanding Losses
(-) |
-952.089
|
-8.580.114
|
| Reserves
for Earthquake Losses (-) |
-180.278
|
-356.517
|
|
Mathematical Reserves for Life Branch
(-) |
-1.229.422
|
-2.659.742
|
| Reserves
for Outstanding Losses for Life Branch (-) |
-29.638
|
-327.338
|
| Reserves
for Profit Share for Life Branch
(-) |
-1.503.990
|
-4.171.119
|
| Other
Technical Reserves
(-) |
0
|
0
|
| Other Expenses (-) |
-14.000
|
-117.023
|
| |
| III- TECHNICAL PROFIT / LOSS |
2.002.179
|
3.700.448
|
| |
| IV- GENERAL EXPENSES (-) |
-1.526.458
|
-2.898.381
|
| Personnel Expenses (-) |
-762.045
|
-1.658.954
|
| General Administrative
Expenses (-) |
-597.384
|
-956.469
|
| Tax and Other Liabilities (-) |
-5.972
|
-8.874
|
| Depreciation Expenses (-) |
-161.057
|
-274.084
|
| Provisions (-) |
0
|
0
|
| Other Expenses (-) |
0
|
0
|
| |
| V- FINANCIAL INCOME |
7.603.639
|
12.070.055
|
| Interest Income |
4.992.432
|
5.655.520
|
| Profit Share Income |
2.553.407
|
5.932.860
|
| Sale Profits |
0
|
0
|
| Rental Income |
20.202
|
72.373
|
| Foreign Exchange Income |
31.630
|
45.561
|
| Other Income |
5.968
|
363.741
|
| |
| VI- FINANCIAL EXPENSES (-) |
-3.802.489
|
-5.861.342
|
| Interest Expenses (-) |
-2.479.463
|
-1.569.939
|
| Sale Losses (-) |
0
|
0
|
| Foreign Exchange Losses (-) |
-49.269
|
-150.718
|
| Provisions (-) |
-1.250.254
|
-4.103.309
|
| Other Expenses (-) |
-23.503
|
-37.376
|
| |
| VII- PERIOD PROFIT / LOSS BEFORE TAX |
4.276.871
|
7.010.780
|
| Tax and Legal Liabilities
Reserves (-) |
-770.022
|
-341.128
|
| |
| VIII- PERIOD PROFIT / LOSS (NET) |
3.506.849
|
6.669.652
|
