|
STATEMENT OF INCOME
|
|
(31.12.1998 - 31.12.1999)
|
| |
| STATEMENT OF INCOME (in Million TL) |
31.12.1998
|
31.12.1999
|
| |
| I- TECHNICAL INCOME |
83.157.565
|
163.665.727
|
| Premiums Received |
37.002.124
|
53.882.457
|
| Commissions Received |
4.666.211
|
7.003.526
|
| Reinsurers' Share in Losses
Paid |
17.658.297
|
48.276.753
|
| Technical Reserves Carried
Forward (Net) |
7.305.545
|
13.396.162
|
| Reserves
for Unearned Premium |
3.196.421
|
5.092.577
|
| Reserves
for Outstanding Losses |
633.986
|
1.159.482
|
|
Mathematical Reserves for Life Branch |
2.733.412
|
6.830.861
|
| Reserves
for Outstanding Losses for Life Branch |
21.726
|
313.242
|
| Reserves
for Profit Share in Life Branch |
0
|
0
|
| Other
Technical Reserves |
0
|
0
|
| Reinsurers' Share in
Technical Reserves Allocated |
12.451.718
|
33.910.444
|
|
Reinsurers' Share in Reserves for Unearned Premium |
5.097.514
|
7.714.207
|
|
Reinsurers' Share in Reserves for Outstanding Losses |
7.340.108
|
26.170.976
|
|
Reinsurers' Share in Mathematical Reserves for Life Branch |
0
|
0
|
|
Reinsurers' Share in in Reserves for Outstanding Losses for Life Br. |
14.096
|
25.261
|
|
Reinsurers' Share in Reserves for Profit Share for Life Branch |
0
|
0
|
|
Reinsurers' Share of Other Technical Reserves |
0
|
0
|
| Other Income |
4.073.670
|
7.196.385
|
| |
| II- TECHNICAL EXPENSES (-) |
-79.457.117
|
-157.890.684
|
| Premiums Paid to Reinsurers (-) |
-18.952.442
|
-28.129.761
|
| Commissions Paid (-) |
-4.951.004
|
-6.876.735
|
| Losses Paid (-) |
-29.151.727
|
-63.635.217
|
| Technical Reserves Allocated (-) |
-26.284.921
|
-59.197.805
|
| Reserves
for Unearned Premium
(-) |
-10.190.091
|
-14.935.029
|
| Reserves
for Outstanding Losses
(-) |
-8.580.114
|
-29.368.684
|
| Reserves
for Earthquake Losses (-) |
-356.517
|
-1.063.930
|
|
Mathematical Reserves for Life Branch
(-) |
-2.659.742
|
-4.620.936
|
| Reserves
for Outstanding Losses for Life Branch (-) |
-327.338
|
-769.145
|
| Reserves
for Profit Share for Life Branch
(-) |
-4.171.119
|
-8.440.081
|
| Other
Technical Reserves
(-) |
0
|
0
|
| Other Expenses (-) |
-117.023
|
-51.166
|
| |
| III- TECHNICAL PROFIT / LOSS |
3.700.448
|
5.775.043
|
| |
| IV- GENERAL EXPENSES (-) |
-2.898.381
|
-4.853.770
|
| Personnel Expenses (-) |
-1.658.954
|
-2.784.218
|
| General Administrative
Expenses (-) |
-956.469
|
-1.591.863
|
| Tax and Other Liabilities (-) |
-8.874
|
-7.867
|
| Depreciation Expenses (-) |
-274.084
|
-469.822
|
| Provisions (-) |
0
|
0
|
| Other Expenses (-) |
0
|
0
|
| |
| V- FINANCIAL INCOME |
12.070.055
|
31.703.916
|
| Interest Income |
5.655.520
|
22.394.758
|
| Profit Share Income |
5.932.860
|
8.843.196
|
| Sale Profits |
0
|
0
|
| Rental Income |
72.373
|
104.002
|
| Foreign Exchange Income |
45.561
|
327.165
|
| Other Income |
363.741
|
34.795
|
| |
| VI- FINANCIAL EXPENSES (-) |
-5.861.342
|
-9.505.590
|
| Interest Expenses (-) |
-1.569.939
|
-1.130.095
|
| Sale Losses (-) |
0
|
0
|
| Foreign Exchange Losses (-) |
-150.718
|
-655.275
|
| Provisions (-) |
-4.103.309
|
-7.479.091
|
| Other Expenses (-) |
-37.376
|
-241.129
|
| |
| VII- PERIOD PROFIT / LOSS BEFORE TAX |
7.010.780
|
23.119.599
|
| Tax and Legal Liabilities
Reserves (-) |
-341.128
|
-8.651.256
|
| |
| VIII- PERIOD PROFIT / LOSS (NET) |
6.669.652
|
14.468.343
|
