DOCSLIB.ORG

Sustainability Report 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Sustainability Report 2020 Report About The Insurance Sector Insurance The Future Of The Corporate Corporate Governance 2020 REPORT SUSTAINABILITY Into The Business Model Business The Into Integrating Sustainability Integrating Climate Change Digital Future Life Work Partners Our Business A Social Responsibility ANADOLU SİGORTA SUSTAINABILITY REPORT 2020 Report About The Insurance Sector Insurance The Future Of The Corporate Corporate Governance Into The Business Model Business The Into Integrating Sustainability Integrating ANADOLU SİGORTA ANADOLU SUSTAINABILITY SUSTAINABILITY REPORT 2020 REPORT Climate Change Digital Future Life Work Partners Our Business Social Responsibility ANADOLU SİGORTA SUSTAINABILITY REPORT 2020 ANADOLU SİGORTA SUSTAINABILITY REPORT 2020 Contents Report About The 30 48 CLIMATE CHANGE WORK Insurance Sector Insurance LIFE The Future Of The THE FUTURE OF THE INSURANCE Corporate Corporate SECTOR 40 Governance 8 DIGITAL FUTURE Into The Business Model Business The Into Integrating Sustainability Integrating 22 Climate CORPORATE Change GOVERNANCE INTEGRATING SUSTAINABILITY INTO 16 THE BUSINESS MODEL Digital Future Life Work 58 64 OUR BUSINESS SOCIAL Partners PARTNERS Our Business RESPONSIBILITY Social Responsibility 2 ANADOLU SİGORTA SUSTAINABILITY REPORT 2020 ANADOLU SİGORTA SUSTAINABILITY REPORT 2020 3 Sustainability Report Report Sustainability Anadolu Sigorta 2020 Report About The Insurance Sector Insurance The Future Of The Corporate Corporate Governance GRI 102-46 Report via Sustainability Sigorta Anadolu this on suggestions and views your submit can You stakeholders. future reports, submit them annually, and improveour practices based on the expectations our of United Nations Global Compact (UNGC). Our goal follow the is to same guiding methodology in and 12.31.2020. the At same time, it is used as our Communication on Progress for the (COP) covers the sustainability performance Anadolu of Anonim Sigorta Türk Şirketi between 01.01.2020 reporting principles suggested in the Global Reporting Initiative (GRI) Standards. The report on identifying the priorities our of company. While conducting these studies, followed we the the subjects that form the main framework the of report through screening studies that focused This report has been prepared according the GRI to Standards: “Core” option. established We organizations. nongovernmental and universities, as well as partners, business and employees, customers, our also but shareholders, and investors our primarily stakeholders, all to information our future perspectives. With this sustainability report, offer aim we to our latest and most holistic and environmental impacts arising from our activities, the performance results achieved, we and economic, social, the on based commitments our and approach management our share we report, sustainability journey the our of views to stakeholders in this third sustainability report. In this AnadoluAt Anonim Sigorta Türk Şirketi, are we glad submit to the studies conducted we in our [email protected]. Into The Business Model Business The Into Integrating Sustainability Integrating REPORT ABOUT THE Climate Change Digital Future Life Work Partners Our Business Social Responsibility ANADOLU SİGORTA SUSTAINABILITY REPORT 2020 ANADOLU SİGORTA SUSTAINABILITY REPORT 2020 Social Our Business Work Digital Climate Integrating Sustainability Corporate The Future Of The About The Responsibility Partners Life Future Change Into The Business Model Governance Insurance Sector Report by adding three new provinces and expanding the Message from the CEO coverage of six other provinces. Report About The In 2020, we continued to carry out social development activities, working with local NGOs as part of our corporate social responsibility efforts. We have The integration of sustainability supported TURMEPA since 2011. issues into our business model Since its foundation, Anadolu Sigorta has embraced is a top priority for Anadolu We also started the process of becoming a signatory to the idea of supporting environmental, economic, and Sigorta. the United Nations Women’s Empowerment Principles social development to leave a better world to future (UN WEPs). Diversity and equal opportunity are pillars Insurance Sector Insurance The Future Of The generations. With this third sustainability report, we of our corporate structure. The UN WEPs underline aim to ensure that all our stakeholders have access to the responsibilities of companies towards women’s the most accurate information on Anadolu Sigorta’s empowerment and gender equality in the workplace impact on sustainable development on several topics, and society in general, and as a signatory, we will from its corporate policies to its business model, continue our work in these areas. from its products and services to its work on social development. us manage our operations’ environmental impact. In We are proud of the results of our operations in 2020. Corporate Governance order to manage our direct impact, we are constantly We believe that we will maintain our successful track The integration of sustainability issues into our business taking improvement steps towards the transition to record by continuing our efforts in the future. I would model is a top priority for Anadolu Sigorta. Accordingly, paperless insurance. During the reporting period, like to take this opportunity to thank our customers for our Sustainability Policy describes the core principles, we reduced our operational paper consumption never failing to inspire us throughout the past 95 years, Esteemed Stakeholders, areas of activity, administrative tools, and processes considerably and reduced our per capita paper our shareholders for their endless trust and support, and we follow during our operations. The Anadolu Sigorta consumption from 5 kg to 2 kg compared to the all our agencies, business partners, and employees for We share with you our sustainability report for Sustainability Committee is the responsible body previous year. Our efforts towards sustainability benefit their dedicated work. the year 2020, which was overshadowed by the for determining company sustainability priorities, all our stakeholders, not just our own operations. Into The Business Model Business The Into coronavirus pandemic. Through these tough times, for establishing and implementing strategic targets In 2020, we reduced the amount of paper used for Sincerely, Sustainability Integrating we have performed all of our operations and services in these areas, and for assessing and reporting the insurance policies from 23 kg to 18 kg per agency. continuously, with no interruptions, using various work performance achieved. We are aware of the enormous methods, including remote access. environmental impact of our insurance processes and We see climate change as one of the biggest global our direct operations. Therefore, we launched the risks as it can also trigger pandemics. We constantly Mehmet Şencan Our biggest priority during this period has been to take Environmental and Social Risk Management System in monitor and manage our operational consumption CEO Climate Change all the measures necessary to effectively protect the 2020 to integrate our company’s sustainability strategy in line with our efforts to combat climate change. health of our employees, our business partners, and all and governance into our business model and business Accordingly, energy consumption per employee our stakeholders. Our preparations began before the processes. decreased from 13 GJ to 9 GJ. In parallel, our coronavirus pandemic hit Turkey, and as the pandemic greenhouse gas emissions per employee decreased progressed, we arranged for all our operations to be Our pioneering efforts in digital developments continue from 1.6 tCO2 to 1.2 tCO2. We understand that one workable remotely. We trained our employees and of the underlying reasons for these decreases is the Digital to set the course for the insurance industry. We Future agents on our e-learning platform after making it aim to win the digital future by leveraging different remote working model that began with the pandemic, suitable for remote education. We have started to technologies in our product and service processes, but we aim to improve this performance once we return remotely perform a very significant part of the risk including the Internet of Things, artificial intelligence, to our normal work routine. We’re working to mitigate assessments that we would normally perform in the and telemetry. Accordingly, our company’s Digital the effects of our operations and continue to support field for our underwriting processes. renewable energy projects that we believe are of the Insurance Committee reports to the Board of Directors Life Work on digitalization and preparations for the digital utmost importance in our country’s fight for energy Through these extraordinary times, we continue to economy. During the reporting period, we continued security and against climate change. With our “Rooftop support both our business partners and our customers to carry out industry-leading projects in the field of Solar Panel Insurance”, which we initiated during the however we can by taking quick and pioneering digitalization. The improvements we’ve made to our reporting period, we provide coverage for solar energy measures and actions. Since the beginning of the mobile applications help us effectively implement the panels that produce up to 10 kWh of electricity. We pandemic, we have covered all COVID-19 treatment strategies
Load more

Recommended publications
  • Hayat-Dışı Sigorta Sektörü
    ÖNERİ BAŞLANGICI TÜRKİYE / SİGORTA Araştırma 9 Temmuz 2021 Hayat-Dışı Sigortacılık Sektörü AKSİGORTA İyileşen ekonomik görünüm sigortacılığı destekleyecek Öneri AL Aksigorta <AKGRT TI> ve Türkiye Sigorta <TURSG TI>’yı “AL” önerisiyle Hedef Fiyat TL9.90 araştırma kapsamımıza alıyoruz. Gordon Büyüme Modeli’ne göre Aksigorta Potansiyel Getiri 25% için hesapladığımız 12 aylık hisse başı hedef fiyatımız 9.9TL, Türkiye Sigorta Fiyat Bilgileri için 6.2TL’dir. Hedef fiyatlarımız, Aksigorta için %25, Türkiye Sigorta için %29 Kodu AKGRT.TI / AKGRT.IS artış potansiyeli taşımaktadır. İşlem Gördüğü Pazar (*) Yıldız Pazar Kapanış Fiyatı TL7.89 Hisseler için olumlu görüşümüzün ortak etmenleri (i) toparlanan ekonomik Piyasa Değeri (TL/US$ mn) 2,414 / 279 Hisse Sayısı (mn) 306 büyümenin, prim penetrasyonu zaten düşük olan sektörün büyümesini Saklama Oranı 28% desteklemesi , (ii) yüksek seyreden TL faizlerin yatırım gelirlerini arttırması, 3 ay ort. işlem hacmi (TL/US$ mn) 7.92 / 0.95 (iii) sigortacıların düzenli temettü gelenekleri ve (iv) yüksek özkaynak Fiyat Aralığı (Yüksek / Düşük) (TL) karlılığıdır. 1 Aylık 8.05 / 7.67 1 Yıllık 9.63 / 6.33 Aksigorta hisseleri 2021 tahminlerimize göre 2.0x F/DD ve 5.4x F/K ile işlem Sene başından itibaren 9.63 / 7.53 görmektedir. Bu çarpanlar son 3 yıl ortalamalarına göre sırasıyla %17 ve %3 (*) Pazar işlem kuralları için: www.borsaistanbul.com/tr/sayfa/506/pazarlar aşağısındadır. Türkiye Sigorta ise 2021 tahminlerimize göre 1.3x F/DD and 5.0x F/K oranları ile işlem görmektedir. TURKIYE SIGORTA Öneri AL . İvmelenen aşılanma sonrası iyileşen ekonomik görünüm prim üretimini destekleyecek : 2020’de Kovid-19 kısıtlamaları sonrası prim üretimlerinde Hedef Fiyat TL6.20 yavaşlama, hasar oranlarında ise düşüş gözlemlemiştik.
    [Show full text]
  • Wherever You Touch Life
    Wherever you touch life... Annual Report 2016 General Information Anadolu Anonim Türk Sigorta Şirketi Mediterranean Regional Branch Black Sea Regional Branch 2016 Annual Report Konyaaltı Cad. No: 78 Karşıyaka Mah. 4 Nolu Sok. No: 479 Muratpaşa 07050 Antalya Ortahisar 61040 Trabzon Corporate Title Tel: +90 850 744 0 744 Tel: +90 850 744 0 744 Anadolu Anonim Türk Sigorta Şirketi Fax: +90 850 744 0 752 Fax: +90 850 744 0 751 E-mail: [email protected] E-mail: [email protected] Website www.anadolusigorta.com.tr Western Anatolia Regional Branch Marmara Regional Branch Atatürk Cad. No: 92 Odunluk Mah. Akademi Cad. Anadolu Sigorta Trade Registration No Anadolu Sigorta Binası 2 Zeno İş Merkezi A Blok No: 10/5 4593/557 Pasaport Konak 35210 İzmir Nilüfer 16110 Bursa Tel: +90 850 744 0 744 Tel: +90 850 744 0 744 Directory Fax: +90 850 744 0 747 Fax: +90 850 744 0 748 E-mail: [email protected] E-mail: [email protected] Head Office Rüzgarlıbahçe Mah. Kavak Sok. No: 31 Middle Black Sea Regional Branch Turkish Republic of Northern Cyprus Branch Kavacık 34805 İstanbul Kılıçdede Mah. Ülkem Sok. No: 8-A/7 Memduh Asaf Sok. 8 Tel: +90 850 744 0 744 İlkadım 55060 Samsun Köşklüçiftlik Lefkoşa / TRNC Fax: +90 850 744 0 745 Tel: +90 850 744 0 744 Tel: +90 92 227 95 95 E-mail: [email protected] Fax: +90 850 744 0 750 Fax: +90 392 227 95 96 E-mail: [email protected] E-mail: [email protected] İstanbul Regional Branch Beytem Plaza Büyükdere Cad.
    [Show full text]
  • Permanent University Fund Detail Schedules of Investment Securities and Independent Auditors’ Report
    PERMANENT UNIVERSITY FUND DETAIL SCHEDULES OF INVESTMENT SECURITIES AND INDEPENDENT AUDITORS’ REPORT August 31, 2014 INDEPENDENT AUDITORS' REPORT ON SUPPLEMENTAL SCHEDULES The Board of Regents of The University of Texas System The Board of Directors of The University of Texas Investment Management Company We have audited the financial statements of the Permanent University Fund (the “PUF”) as of and for the years ended August 31, 2014 and 2013, and have issued our report thereon dated October 31, 2014, which contained an unmodified opinion on those financial statements. Our audits were conducted for the purpose of forming an opinion on the financial statements as a whole. The supplemental schedules consisting of the PUF’s equity securities (Schedule A), preferred stocks (Schedule B), purchased options (Schedule C), debt securities (Schedule D), investment funds (Schedule E), physical commodities (Schedule F), cash and cash equivalents (Schedule G), hedge fund investment funds (Schedule H), and private investment funds (Schedule I) as of August 31, 2014 are presented for the purposes of additional analysis and are not a required part of the financial statements. These schedules are the responsibility of The University of Texas Investment Management Company and were derived from and relate directly to the underlying accounting and other records used to prepare the financial statements. Such schedules have been subjected to the auditing procedures applied in our audits of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America.
    [Show full text]
  • Turkey Informer
    31 August 2006 Global Emerging Markets Turkey +PSFEP6IWIEVGL Turkey Informer Equity market drivers Turkish equities have bounced back strongly from their May lows, but nevertheless still face some tough structural headwinds. Most crucially, we think the global environment still creates challenges for current account-deficit countries, although there are both upside and downside risks here. Domestically, tight monetary and fiscal policies create continued downside risk to growth and earnings estimates. There is a liquidity risk as well, in that the market remains over-owned. The change in the macro environment also threatens to raise the political temperature going into next year’s elections and will probably make investors focus more on political risk than might otherwise be the case. That said, valuation provides some comfort. On a PE basis, Turkey enjoys discounts to EMEA of 7% for 2006e and 12% for 2007e. Moreover, we see about 19% upside to fair Bulent Yurdagul* Analyst value for the market, both for banks and non-banks. Of course, if growth is weaker than HSBC Yatirim Menkul Degerler A.S. we expect, earnings erosion would undermine the room for manoeuvre on valuations. But (Turkey) equally, further Turkish lira (TRL) appreciation could enhance the interest rate and +90 212 366 16 04 [email protected] growth outlook – both of which would, in turn, boost valuations. Cenk Orcan* In view of this outlook, we keep the Turkish market on a Neutral weighting. Analyst HSBC Yatirim Menkul Degerler A.S. Top stock picks (Turkey) +90 212 366 16 05 Banks – our top picks remain Garanti and TEB on prospects of strong growth under the [email protected] global expertise of new JV partners, GE and BNP, respectively.
    [Show full text]
  • 2018 Annual Report
    2018 Annual Report Anadolu Hayat Emeklilik 2018 Annual Report 1 Content Presentation Information on General Assembly At a Glance: Our Vision, Our Mission, Our Corporate Strategy 8 Summary Report of the Board of Directors for the General 28 Years of Anadolu Hayat Emeklilik 10 Assembly of Shareholders 92 Message from the Chairman 14 Ordinary General Assembly Agenda 95 Message from the CEO 18 2017 Profit Distribution Table 96 An Overview of the World and Turkish Economies in 2018 Profit Distribution Proposal Table 97 2018 and 2019 Outlook 22 Anadolu Hayat Emeklilik by Numbers 26 Financial Position Strategic Goals of Anadolu Hayat Emeklilik 29 Information on Financial Structure 100 Assessment of Financial Standing, Profitability and Claims 2018 Activities Payment Ability 103 An Overview of Anadolu Hayat Emeklilik’s Position in the 5-Year Summary Financial Information Including the Industry and its Activities in 2018 32 Reporting Period 104 Sustainability 38 Research and Development 39 Risk Management Active Committees and an Assessment by the Board of Corporate Governance Directors 108 Organization Chart 42 Risk Management Policies and an Assessment by the Board Directors 44 Board of Directors 111 Declarations of Independence by Independent Members of the Board of Directors 48 Financial Reports and Other Matters Outside Positions Held by the Board Directors and 31 December 2018 Unconsolidated Financial Statements Executives 49 Together with Independent Auditors’ Report Thereon 116 Senior Management 50 Information on Consolidated Associate
    [Show full text]
  • Far Away Annual Report 1999
    Y TARGETSfar away annual report 1999 Reaching far away targets with sophisticated tools. CONTENTScontents Achievements in 1999 and Targets for 2000 Financial Highlights 01 DenizBank in Brief 02 Zorlu Holding 04 Board of Directors 06 Board of Directors’ Report 09 Review of Operations 11 Corporate Banking 11 Retail Banking 13 Financial Institutions 15 Treasury 15 Operations 18 Administrative Services 19 Subsidiaries 23 DenizYat›r›m Securities 23 DenizLeasing 24 DenizFactoring 25 Executive Management 26 Auditors’ Report and Financial Statements 27 Auditors’ Report and Inflation Adjusted Financial Statements 43 Organizational Chart 59 Directory 60 financialhighlights Inflation Adjusted 1999 1998 US$ TL US$ TL million billion million billion Investment Securities 312 168,511 108 58,558 Loans, net 196 105,710 96 51,817 Equity Participations 4 2,046 1 738 Fixed Assets, net 28 15,110 14 7,689 Total Assets 795 429,547 368 198,779 Deposits Demand 50 26,856 34 18,191 Time 353 190,853 164 88,466 Interbank 10 5,200 2 1,140 Funds Borrowed from Banks 167 89,988 81 43,816 Networth 94 50,815 52 27,938 Paid-in Capital 77 41,443 45 24,061 L/Cs & L/Gs 222 120,093 135 72,869 Interest Income 96,154 51,285 Interest Expense (36,739) (13,051) Net Interest Income after Provisions 57,297 36,596 Non-Interest Income 23,538 4,259 Non-Interest Expense (54,667) (29,017) Income Before Taxation 10,579 5,142 Net Income 3,442 1,917 Number of Branches 34 28 Number of Staff 714 580 Capital Adequacy Ratio 21.25% 22.19% ROE 42% 25% Medium-Term Plans (US$ million) 1997 1998 1998 1999 1999 2000 2001 Realized Planned Realized Planned Realized Planned Planned Total Assets 103 393 368 550 795 1,200 1,500 Capital Increase 17.6 20 20 20 25 20 20 Networth 22.3 45 52 75 94 120 150 ROE (%) - 8 25 10.5 42 10.7 12 01 denizbankin brief DenizBank was first established in 1938 as a state-owned bank to provide financing for the developing maritime industry in Turkey.
    [Show full text]
  • Prospectus Directive (2003/71/EC, As Amended by Directive 2010/73/EU) (‘‘Qualified Investors’’)
    IMPORTANT NOTICE IMPORTANT: You must read the following disclaimer before continuing. The following disclaimer applies to the offering circular (the ‘‘Offering Circular’’) attached to this electronic transmission and you are therefore advised to read this disclaimer carefully before reading, accessing or making any other use of the attached Offering Circular. In accessing the attached Offering Circular, you agree to be bound by the following terms and conditions, including any modifications to them from time to time, each time you receive any information from us as a result of such access. THE OFFERING CIRCULAR IS NOT AN OFFER TO SELL SECURITIES AND THE COMPANY IS NOT SOLICITING OFFERS TO BUY SECURITIES IN ANY JURISDICTION WHERE SUCH OFFER OR SALE IS NOT PERMITTED. Confirmation of your representation: By accessing this Offering Circular you have confirmed to the Managers and the Company (each as defined in the Offering Circular) that (i) you have understood and agree to the terms set out herein, (ii) (a) you and the electronic mail address you have given to us are not located in the United States, its territories and possessions or (b) you are a person that is a ‘‘qualified institutional buyer’’ (‘‘QIB’’) within the meaning of Rule 144A under the Securities Act of 1933, as amended (the ‘‘Securities Act’’), (iii) you consent to delivery by electronic transmission, (iv) you will not transmit the attached Offering Circular (or any copy of it or part thereof) or disclose, whether orally or in writing, any of its contents to any other person, and (v) you acknowledge that you will make your own assessment regarding any legal, taxation or other economic considerations with respect to your decision to purchase the securities described in the Offering Circular.
    [Show full text]
  • Slayt Başlığı
    INVESTOR PRESENTATION 2014Q4 Contents Non-life Sector Profile 3 Outline of the Company 11 Financial Highlights 23 Appendix 31 2 Non-life Sector Profile Outline of the company Financial highlights 3 Number of Companies (12.14) Number of Foreign Shared Companies Premium Production (mn TL) 7,3% Non Life 37 Non Life 25 Life 27 Life 18 22,2% 25.990 24.230 Reinsurance 1 Reinsurance - 22.710 20.834 Total 65 Total 43 19.827 17.116 * 35 of 43 company has more than Non Life 50% foreign shares. Life Total Premium Production of the Sector (mn TRY) (12.14) Premium Share 3.395 3.280 Non Life 22.710 %87 2.711 Life 3.280 %13 Total 25.990 %100 12.12 12.13 12.14 9,0% 21,7% 4 SOURCE: Association of Insurance Companies, Undersecretariat of treasury annual report Remarks About the Sector Change in GDP and GWP 25,0 2011 2012 2013 21,3 21,7 Inflation Rates (%) 10,5 6,2 7,4 20,0 18,1 GDP Change (%) 8,8 2,1 4,0 15,0 GDP (Per Person) ($) 10.444 10.459 10.782 10,0 8,8 GDP (Per Person) (TRY) 17.510 18.927 23.012 Premium Increase (%) 5,0 4,0 21,3 18,1 21,7 (non life) 2,1 Premium Increase (%) 35,6 16,0 23,0 0,0 (Anadolu) 2011 2012 2013 GDP Change Non Life Premium Production Change 5 SOURCE: Association of Insurance Companies, turkstat Mandatory Policies in Turkey 12,00 Non-insured ratio 70,0% 9,85 61,8% 60,0% 10,00 18,8 million of vehicles and 9,8 50,0% million automobiles in Turkey.
    [Show full text]
  • An Econometric Approach Gokce Goktepe
    Democratic Transitions and Implicit Power: An Econometric Approach Gokce Goktepe (NYU) Shanker Satyanath (NYU) ABSTRACT Recent works of political economy have emphasized the importance of distinguishing between transfers of explicit and implicit power over economic decision making in democratic transitions. Scholars have so far provided interesting anecdotal evidence supporting their claims of potential divergence between transfers of explicit and implicit power. In this paper we apply econometric techniques to examine if a transfer of explicit power has not also been accompanied by a transfer of implicit power. We do so in the context of a major country where considerable uncertainty remains over the military’s implicit role in economic decision making long after an explicit transfer of power to elected leaders, namely Turkey. Our findings indicate a significant gap between the explicit and implicit aspects of Turkey’s democratic transition, adding support to scholars’ claims about the importance of distinguishing between these aspects of transitions. When has a democratic transition truly occurred? Standard measures of democracy consider the presence of free elections and/or turnover in government as adequate to identify the emergence of a democracy. However, these are only explicit aspects of a democratic transition. Several scholars, ranging from Schmitter and Karl (1991) to Acemoglu and Robinson (2008), have expressed concerns that countries that have made the transition to free elections and turnover in office may still be implicitly undemocratic in that elements of the previous authoritarian regime continue to exercise substantial behind the scenes (implicit) influence over economic decision making.1 Aside from purely normative concerns the distinction between transfers of explicit and implicit power is of special importance in deliberations about Turkey’s accession to the European Union, where behind the scenes military involvement in economic decision making is seen as weakening the case for allowing accession.
    [Show full text]
  • Turkish Equities Strategy Update Strategy
    Deutsche Bank Markets Research Emerging Europe Strategy Date Turkey 12 May 2016 Turkish Equities Strategy Strategy Update Kazim Andac Erol Danis, CFA Research Analyst Research Analyst Top recommendations (+90) 212 319-0315 (+90) 212 3190326 [email protected] [email protected] Koray Pamir Hilal Varol Risk appetite roiled by global headwinds and domestic political disruption Research Analyst Research Analyst Deteriorating risk perception due to a less conducive global backdrop for the (+90) 212 3190327 (+90) 212 319-0332 EM universe has roiled the positive sentiment of early 2016. Risk aversion was [email protected] [email protected] stimulated further by the reawakening of domestic political risks (especially following the unexpected ouster of the PM), triggering a correction to the TR asset risk premium (the USD/TRY exceeded 2.95, 10Y bond yields rose above Athmane Benzerroug 10% and the BIST100 retreated 13% since end-April). TR equities currently Research Analyst trade at 1Y forward P/E and EV/EBITDA of 9.4x and 8.3x, respectively, and (+971) 4 4283938 valuations vs. peers further widened after an 8% underperformance against [email protected] the MSCI EM index (TR equities’ P/E discount relative to MSCI EM climbed to 27% vs. the 3Y average discount of 14%). Based on a RF of 10%, our BIST100 target stands at c.89,000, implying 13% upside in 12-month perspective. Top Picks Current Price Target Price In our view, risk premium is likely to remain elevated in the coming period on Compa ny RIC Re turn 1) changes in the cabinet,
    [Show full text]
  • Kredili Menkul Kiymet Listesi
    KREDİLİ MENKUL KIYMET LİSTESİ Likit Likit Likit Kodu Pay Senedinin Adı Kodu Pay Senedinin Adı Kodu Pay Senedinin Adı Değeri Değeri Değeri AEFES ANADOLU EFES 90 ADANA ADANA ÇİMENTO (A) 75 ADBGR ADANA ÇİMENTO (B) 50 AKBNK AKBANK 90 ADNAC ADANA ÇİMENTO (C) 75 ADEL ADEL KALEMCİLİK 50 AKSA AKSA 90 AFYON AFYON ÇİMENTO 75 AKENR AK ENERJİ 50 ANACM ANADOLU CAM 90 AKCNS AKÇANSA 75 AKMGY AKMERKEZ GMYO 50 ARCLK ARÇELİK 90 AKGRT AKSİGORTA 75 ALBRK ALBARAKA TÜRK 50 ASELS ASELSAN 90 AKSEN AKSA ENERJİ 75 ALCAR ALARKO CARRIER 50 AYGAZ AYGAZ 90 ALARK ALARKO HOLDİNG 75 ALGYO ALARKO GMYO 50 BIMAS BİM MAĞAZALAR 90 ANHYT ANADOLU HAYAT EMEK. 75 ASLAN ASLAN ÇİMENTO 50 BRISA BRİSA 90 ANSGR ANADOLU SİGORTA 75 ASUZU ANADOLU ISUZU 50 CCOLA COCA COLA İÇECEK 90 AVISA AVİVASA EMEKLİLİK HAYAT 75 AYEN AYEN ENERJİ 50 CIMSA ÇİMSA 90 BRSAN BORUSAN MANNESMANN 75 BAGFS BAGFAŞ 50 DOAS DOĞUŞ OTOMOTİV 90 CLEBI ÇELEBİ 75 BIZIM BİZİM MAĞAZALARI 50 ECILC ECZACIBAŞI İLAÇ 90 CRFSA CARREFOURSA 75 BOLUC BOLU ÇİMENTO 50 EKGYO EMLAK KONUT GMYO 90 DOCO DOCO 75 BOYP BOYNER PERAK VE TEKSTİL 50 ENKAI ENKA İNŞAAT 90 DOHOL DOĞAN HOLDİNG 75 DEVA DEVA HOLDİNG 50 EREGL EREĞLİ DEMİR CELİK 90 GOZDE GÖZDE GİRİŞİM 75 DGGYO DOĞUŞ GMYO 50 FROTO FORD OTOSAN 90 HLGYO HALK GMYO 75 ECZYT ECZACIBAŞI YATIRIM 50 GARAN GARANTİ BANKASI 90 ISFIN İŞ FİN.KİR. 75 EGEEN EGE ENDÜSTRİ 50 GUBRF GÜBRE FABRİK. 90 ISMEN İŞ Y. MEN. DEĞ. 75 FINBN FİNANSBANK 50 HALKB T. HALK BANKASI 90 KRDMD KARDEMİR (D) 75 GLYHO GLOBAL YAT.
    [Show full text]
  • 2013 Faaliyet Raporu İÇİNDEKİLER
    2013 Faaliyet Raporu İÇİNDEKİLER 1 Genel Bilgiler 2 Kurumsal Profil 3 Vizyonumuz, Misyonumuz, Kurumsal Değerlerimiz 4 Anadolu Sigorta’nın Tarihsel Gelişimi 6 Yönetim Kurulu Başkanı’nın Mesajı 8 Genel Müdür’ün Mesajı 14 Şirketin Organizasyon, Sermaye ve Ortaklık Yapıları 14 Organizasyon Şeması 15 Sermaye ve Ortaklık Yapısı 15 İmtiyazlı Paylara İlişkin Açıklamalar 16 Yönetim Organı Üst Düzey Yöneticiler ve Personel Sayısı ile İlgili Bilgiler 16 Yönetim Kurulu 18 İcra Kurulu 20 İç Sistemler Kapsamındaki Birimlerin Yöneticileri 20 Kategorileri İtibarıyla Dönem İçinde Çalışan Personelin Ortalama Sayısı 21 Mali İşler ve Aktüerya Birim Yöneticileri 21 Yönetim Organı Üyeleri ile Üst Düzey Yöneticilere Sağlanan Mali Haklar 21 Mali Haklar 21 Diğer İmkanlar 24 Şirketin Araştırma ve Geliştirme Çalışmaları 24 Yeni Hizmet ve Faaliyetlerle İlgili Olarak Araştırma ve Geliştirme Uygulamaları 28 Şirket Faaliyetleri ve Faaliyetlere İlişkin Önemli Gelişmeler 28 2013-2014 Ana Hedefimiz, Politikalarımız ve Çalışmalarımız 29 Şirketin Yapmış Olduğu Yatırımlara İlişkin Bilgiler 30 İç Kontrol Sistemi ve İç Denetim Faaliyetleri 30 Teftiş Kurulu Başkanlığı 2013 Yılı Faaliyet Dönemi Değerlendirmesi 31 İç Kontrol Sistemi ve Yönetim Organının Değerlendirmesi 32 İştiraklere İlişkin Bilgiler 32 Şirketin İktisap Ettiği Kendi Paylarına İlişkin Bilgiler 32 Özel Denetim ve Kamu Denetimine İlişkin Açıklamalar 32 Şirket Aleyhine Açılan Davalar ve Olası Sonuçları 32 İdari Veya Adli Yaptırımlara İlişkin Açıklamalar 33 Geçmiş Dönem Hedefleri ve Genel Kurul Kararlarına İlişkin
    [Show full text]