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The Right Steps, Secure Future

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The Right Steps, Secure Future THE RIGHT STEPS, SECURE FUTURE 2020 Annual Report CONTENTS GENERAL INFORMATION 1 FINANCIAL STATUS 37 CORPORATE PROFILE 2 SUMMARY REPORT BY THE BOARD OF DIRECTORS 37 OUR CORPORATE VALUES 3 FINANCIAL INFORMATION AND INDICATORS 40 OUR VISION, OUR MISSION 3 ECONOMIC OVERVIEW 44 MILESTONES FROM THE HISTORY OF ANADOLU SİGORTA 6 OVERVIEW OF THE WORLD AND TURKISH INSURANCE INDUSTRIES CHAIRPERSON’S MESSAGE 10 AND FUTURE OUTLOOK 48 CEO’S MESSAGE 14 DEVELOPMENTS AND CHANGES IN LEGISLATION 51 THE ORGANIZATION, CAPITAL AND SHAREHOLDER STRUCTURE AN ASSESSMENT OF ANADOLU SİGORTA IN 2020 60 OF THE COMPANY 18 ASSESSMENT OF THE COMPANY CAPITAL AND COMMENTS 79 ORGANIZATION CHART 18 PROFIT DISTRIBUTION POLICY 80 CAPITAL AND SHAREHOLDER STRUCTURE 19 RISKS AND AN ASSESSMENT BY THE GOVERNING BODY 81 DISCLOSURES ON PREFERRED SHARES 19 RISK MANAGEMENT POLICIES ADHERED TO BY TYPES OF RISKS 81 GOVERNING BODY, EXECUTIVES AND THE NUMBER OF ACTIVITIES OF THE COMMITTEE OF EARLY DETERMINATION EMPLOYEES 20 OF RISK 84 BOARD OF DIRECTORS 20 INDEPENDENT AUDITOR’S REPORT ON THE EARY IDENTIFICATION DECLARATIONS OF INDEPENDENCE BY INDEPENDENT MEMBERS OF THE RISK COMMITTEE AND SYSTEM 86 OF THE BOARD OF DIRECTORS 23 OTHER MATTERS AND FINANCIAL STATEMENTS 87 EXECUTIVE COMMITTEE 24 INDEPENDENT AUDITOR’S REPORT ON THE ANNUAL REPORT HEADS OF UNITS UNDER THE INTERNAL SYSTEMS 26 OF THE BOARD OF DIRECTORS 87 AVERAGE NUMBER OF EMPLOYEES BY CATEGORIES DURING THE AN ASSESSMENT OF THE BOARD DIRECTORS BY THE CORPORATE REPORTING PERIOD 26 GOVERNANCE COMMITTEE 89 FINANCIAL AFFAIRS AND ACTUARIAL UNIT MANAGERS 27 DISCLOSURE POLICY 91 FINANCIAL RIGHTS PROVIDED TO THE MEMBERS OF THE STATEMENT OF COMPLIANCE WITH CORPORATE GOVERNANCE GOVERNING BODY AND EXECUTIVES 27 PRINCIPLES 93 RESEARCH AND DEVELOPMENT ACTIVITIES OF THE COMPANY 30 CORPORATE GOVERNANCE COMPLIANCE REPORT 94 RESEARCH AND DEVELOPMENT PERTAINING TO NEW SERVICES CORPORATE GOVERNANCE INFORMATION FORM 101 AND BUSINESS ACTIVITIES 30 ADDITIONAL INFORMATION ON CORPORATE GOVERNANCE 108 COMPANY ACTIVITIES AND MAJOR DEVELOPMENTS IN COMPLIANCE WITH SUSTAINABILITY PRINCIPLES 111 ACTIVITIES 31 COMMITTEES OPERATING WITHIN ANADOLU SİGORTA AND AN 2020-2021 PRIMARY GOALS AND POLICIES 31 ASSESSMENT BY THE BOARD OF DIRECTORS 113 INFORMATION ON THE COMPANY’S INVESTMENTS 31 AN ASSESSMENT OF THE OPERATION OF THE INDEPENDENT INTERNAL CONTROL SYSTEM AND INTERNAL AUDIT ACTIVITIES 32 AUDIT FIRM IN 2020 ACTIVITY PERIOD VIA THE AUDIT COMMITTEE 118 AN ASSESSMENT OF 2020 BY THE BOARD OF INSPECTORS 32 HUMAN RESOURCES PRACTICES AT ANADOLU SİGORTA 119 INTERNAL CONTROL SYSTEM AND AN ASSESSMENT BY THE GOVERNING BODY 33 AGENDA OF THE ANNUAL GENERAL ASSEMBLY MEETING 120 INFORMATION ON ASSOCIATES 34 2020 PROFIT DISTRIBUTION PROPOSAL 121 REPURCHASED OWN SHARES BY THE COMPANY 34 2020 PROFIT DISTRIBUTION TABLE 122 DISCLOSURES CONCERNING SPECIAL AUDIT AND PUBLIC AUDIT 34 2020 ANNUAL REPORT COMPLIANCE STATEMENT 123 LAWSUITS FILED AGAINST THE COMPANY AND POTENTIAL DETAILED INCOME STATEMENT 124 RESULTS 34 31 DECEMBER 2020 UNCONSOLIDATED FINANCIAL STATEMENTS DISCLOSURE OF ADMINISTRATIVE OR JUDICIAL SANCTIONS TOGETHER WITH INDEPENDENT AUDITORS’ REPORT THEREON 126 AGAINST THE COMPANY AND/OR BOARD OF DIRECTORS INFORMATION ON CONSOLIDATED SUBSIDIARIES 209 MEMBERS 34 31 DECEMBER 2020 CONSOLIDATED FINANCIAL STATEMENTS ASSESSMENT OF PRIOR PERIOD TARGETS AND GENERAL TOGETHER WITH INDEPENDENT AUDITORS’ REPORT THEREON 210 ASSEMBLY DECISIONS 34 AN ASSESSMENT OF FINANCIAL STANDING, PROFITABILITY AND EXPENSES INCURRED IN RELATION TO DONATIONS AND SOLVENCY 292 GRANTS AND SOCIAL RESPONSIBILITY PROJECTS 34 INFORMATION ON FINANCIAL STRUCTURE 294 COMMITMENT TO SOCIAL RESPONSIBILITY 35 SUMMARY FINANCIAL INFORMATION FOR THE LAST 5 YEARS THE COMPANY’S TRANSACTIONS WITH THE RISK GROUP 36 INCLUDING THE REPORTING PERIOD 295 INFORMATION FOR INVESTORS 296 GENERAL INFORMATION Anadolu Anonim Türk Sigorta Şirketi Middle Black Sea Regional Branch 2020 Annual Report Kılıçdede Mah. Ülkem Sok. No: 8-A/7 55060 İlkadım / Samsun Corporate Title Tel: +90 850 724 0850 Anadolu Anonim Türk Sigorta Şirketi Fax: +90 850 744 0 750 E-mail: [email protected] Website www.anadolusigorta.com.tr Southern Anatolia Regional Branch Reşatbey Mah. 62029. Sok. No: 16/A Anadolu Sigorta Trade Registration No: 01120 Seyhan / Adana 4593/557 Tel: +90 850 724 0850 Fax: +90 850 744 0 746 Directory E-mail: [email protected] Head Office Central Anatolia Regional Branch Rüzgarlıbahçe Mah. Çam Pınarı Sok. No: 6 Söğütözü Mah. 2176. Sok. Platin Tower İş Merkezi No: 7/1 34805 Beykoz / İstanbul 06530 Çankaya / Ankara Tel: +90 850 724 0850 Tel: +90 850 724 0850 Fax: +90 850 744 0 745 Fax: +90 850 744 0 749 E-mail: [email protected] E-mail: [email protected] İstanbul Regional Branch Black Sea Regional Branch Levent Mah. Meltem Sok. No: 10 Karşıyaka Mah. Yavuz Selim Bulvarı No: 479/A İş Kuleleri Kule: 2 Kat: 8 61040 Ortahisar / Trabzon 34330 Beşiktaş / İstanbul Tel: +90 850 724 0850 Tel: +90 850 724 0850 Fax: +90 850 744 0 751 Fax: +90 850 744 0 753 E-mail: [email protected] E-mail: [email protected] Marmara Regional Branch Kadıköy Regional Branch Odunluk Mah. Akademi Cad. Küçükbakkalköy Mah. Vedat Günyol Cad. 20/11 Zeno İş Merkezi A Blok No: 10/5 34750 Ataşehir / İstanbul 16110 Nilüfer / Bursa Tel: +90 850 724 0850 Tel: +90 850 724 0850 Fax: +90 850 744 0 754 Fax: +90 850 744 0 748 E-mail: [email protected] E-mail: [email protected] Mediterranean Regional Branch TRNC Branch Konyaaltı Cad. No: 78 Köşklüçiftlik Mah. Memduh Asaf Sok. No: 8 07050 Muratpaşa / Antalya Lefkoşa / KKTC Tel: +90 850 724 0850 Tel: 0392 227 95 95 Fax: +90 850 744 0 752 Faks: 0392 227 95 96 E-mail: [email protected] E-mail: [email protected] Western Anatolia Regional Branch Gaziantep Sales Office Atatürk Cad. No: 92 İncilipınar Mah. Gazi Muhtar Paşa Bulvarı Anadolu Sigorta Binası 2 36017 Sok. Kepkepzade Park İş Merkezi 35210 Pasaport Konak / İzmir C Blok No: 6/10 Tel: +90 850 724 0850 Şehitkamil Gaziantep Anadolu Sigorta Fax: +90 850 744 0 747 Fax: +90 850 744 0 755 E-mail: [email protected] E-mail: [email protected] 2020 Annual Report Previous years’ annual reports of Anadolu Sigorta 1 GENERAL INFORMATION CORPORATE PROFILE, OUR VISION, OUR MISSION, OUR CORPORATE VALUES CORPORATE PROFILE, OUR VISION, OUR MISSION, OUR CORPORATE VALUES ANADOLU SİGORTA WILL CONTINUE TO BACK THE ADVANCEMENT OF INSURANCE BUSINESS IN TURKEY, AND FURTHER CEMENT ITS STRONG POSITION IN THE SECTOR WITH ITS BREAKTHROUGH IN DIGITAL INSURANCE. CORPORATE PROFILE In 2020 Anadolu Sigorta expanded its total million in 2020. Trailing these two premium production by 21% year-on-year branches, in order, were fire and natural to TL 8 billion and controlled an 11.8% disasters with TL 1,423 million, health with share of the overall market among non-life TL 948 million, general losses with TL 580 companies. million and general liability with TL 356 million. Anadolu Sigorta pursues its operations via ten regional branches across the nation Turkey’s first national insurance company Anadolu Sigorta and one branch in the Turkish Republic of and the pioneer in the sector, Anadolu Northern Cyprus. The number of employees Sigorta will keep contributing to the on the company’s payroll averaged 1,361 in advancement of the insurance business in 2020. Turkey in the light of its mission and vision, 2020 and further build on its solid position in the Anadolu Sigorta registered its highest Annual Report industry on the back of its powerful digital premium production in the motor vehicle insurance initiative. liability with TL 2,305 million, followed by the motor vehicles branch with TL 1,506 2 OUR VISION OUR MISSION • To make Anadolu Sigorta In keeping with the deeply-rooted, pioneering, honest, and the insurance brand solid corporate values of Anadolu Sigorta to: preferred by everyone • Lead the sector, who needs insurance. • Help create a broad public awareness of insurance in • To achieve a strength Turkey, that makes it a reference • Implement a customer-focused approach to service, point in the worldwide insurance industry as well. • Increase our financial strength to international standards, • Enhance the value of our company. OUR CORPORATE VALUES A COMPANY PIONEERSHIP INTEGRITY POWERFUL ENTRENCHED STRUCTURE IN HISTORY It was founded in Pioneer in creating It has ethical merits; It has a stable financial accordance with the product; power; instructions given by It fulfills its promises Mustafa Kemal Atatürk. Pioneer in service; definitely; It has an extended and efficient service network; Pioneer in technology; It inheres in transparency It is Turkey’s first national Anadolu Sigorta insurance company. as principle; It has a sophisticated With its self-renewing and high qualified human It has a powerful ability preserves its It never abandons human source; corporate structure built pioneering position; values. It gains power from 2020 on its knowledge of It plays a pioneering role insurance accumulated the synergy created by in social responsibility. Annual Report through the years. İşbank. 3 WE STAND BY OUR POLICYHOLDERS UNDER ANY CIRCUMSTANCE. GENERAL INFORMATION MILESTONES FROM THE HISTORY OF ANADOLU SİGORTA MILESTONES FROM THE HISTORY OF ANADOLU SİGORTA 1925 1986 1996 ANADOLU SİGORTA WAS REPRESENTING A NEW POLICIES IN LEGAL FOUNDED ON APRIL 1ST AT BRANCH IN THE TURKISH PROTECTION INSURANCE THE
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