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2019 Annual Report 1 Anadolu Hayat Emeklilik 2019 Annual Report 1 2019 Annual Report Content Presentation Corporate Governance Information Form 76 At a Glance: Our Vision, Our Mission, Our Additional Information on Corporate Corporate Strategy 8 Governance 84 29 Years of Anadolu Hayat Emeklilik The Author of “Firsts” in Its Industry… 10 Information on General Assembly Message from the Chairman 14 Summary Report of the Board of Directors Message from the CEO 16 for the General Assembly of Shareholders 92 An Overview of the World and Turkish Ordinary General Assembly Agenda 95 Economies in 2019 and 2020 Outlook 20 2018 Profit Distribution Table 96 Anadolu Hayat Emeklilik by Numbers 24 2019 Profit Distribution Proposal Table 97 Strategic Goals of Anadolu Hayat Emeklilik 27 Financial Position 2019 Activities Information on Financial Structure 100 An Overview of Anadolu Hayat Emeklilik’s Assessment of Financial Standing, Position in the Industry and its Activities in Profitability and Claims Payment Ability 103 2019 30 5-Year Summary Financial Information Sustainability 38 Including the Reporting Period 104 Research and Development 39 Risk Management Corporate Governance Active Committees and an Assessment Organization Chart 42 by the Board of Directors 108 Board of Directors 44 Risk Management Policies and an Declarations of Independence by Independent Assessment by the Board of Directors 111 Members of the Board of Directors 48 Outside Positions Held by the Board of Financial Reports and Other Matters Directors and Executives 49 31 December 2019 Unconsolidated Financial Senior Management 50 Statements Together with Independent İşbank 52 Auditors’ Report Thereon 116 Changes in the Legislation during the Information on Consolidated Associate 213 Fiscal Year 53 31 December 2019 Consolidated Financial Other Material Disclosures Concerning the Statements Together with Independent Reporting Period 54 Auditors’ Report Thereon 214 Transactions Executed with the Risk Group in Information for Investors 312 Which the Company Is Included 55 An Assessment of Independent Audit, Directory Internal Control System and Internal Audit Activities by the Board of Directors 57 Independent Auditor’s Report on the Annual Report of the Board of Directors 59 Policies About Corporate Governance 61 Statement of Compliance with Corporate Governance Principles 67 Corporate Governance Compliance Report 68 Cover photo: Özge Yılmaz / Shots From Life As Seen By Women ‘19 Anadolu Hayat Emeklilik 2019 Annual Report 1 Rukiye Erşahin Shots From Life As Seen By Women ‘19 Anadolu Hayat Emeklilik remains strictly adhered to its mission of nurturing in people an awareness of the need to safeguard their future, offering financial solutions that respond to needs of individuals and organizations, and contributing to the development of the national economy by creating long-term stable funds. 2 Anadolu Hayat Emeklilik 2019 Annual Report Financial Indicators Total Assets: Equity: TL 27.1 billion TL 1.3 billion Gross Profit: Market Capitalization: TL 477 million TL 2.9 billion Sector’s Leader in Life Insurance Sector’s Leader in Life and Private Pension Funds Insurance Funds TL 25.2 billion (1) (2) TL 2.2 billion(2) (1) Pension Monitoring Center (PMC) 31 December 2019 (Including Auto Enrolment) (2) Insurance Information and Monitoring Center (31 December 2019) Anadolu Hayat Emeklilik 2019 Annual Report 3 Emel Akar Shots From Life As Seen By Women ‘19 A member of the UN Women’s Empowerment Principles (WEPs) Platform, Anadolu Hayat Emeklilik supports the empowerment of women in business and social life. 4 Anadolu Hayat Emeklilik 2019 Annual Report Human Resources Headquarters & Districts: Direct Sales Force: 591 496 Total: 1,087 Position in the Sector Private Pension (1) Life Insurance (2) Contracts & Certificates: Mathematical Provisions: #1 - 14.6% #1 - 22.5% Participants: Written Premiums: #1 - 14.5% #2 - 10.9% Total Pension Assets Under Management: #2 - 18.0% (1) Pension Monitoring Center (PMC) 31 December 2019 (Including Auto Enrolment) (2) Insurance Information and Monitoring Center (31 December 2019) Anadolu Hayat Emeklilik 2019 Annual Report 5 Mina Bal Köyönü Shots From Life As Seen By Women ‘19 Organization • İstanbul Headquarters • Customer Operations Center • 11 District Sales Offices • TRNC Branch Office 6 Anadolu Hayat Emeklilik 2019 Annual Report Presentation ◊ At a Glance: Our Vision, Our Mission, Our Corporate Strategy ◊ 29 Years of Anadolu Hayat Emeklilik ◊ Message from the Chairman ◊ Message from the CEO ◊ An Overview of the World and Turkish Economies in 2019 and 2020 Outlook ◊ Anadolu Hayat Emeklilik by Numbers ◊ Strategic Goals of Anadolu Hayat Emeklilik Anadolu Hayat Emeklilik 2019 Annual Report 7 The Company Creating the Highest Amount of Funds Year after year, Anadolu Hayat Emeklilik further consolidates its identity as the company “creating the highest amount of funds” in the aggregate of life insurance and private pension and keeps leading the sector’s growth. Songül Denizer Shots From Life As Seen By Women ‘19 8 Anadolu Hayat Emeklilik 2019 Annual Report Anadolu Hayat Emeklilik at a Glance Our Vision To be the leading company in Turkey in all aspects of financial planning that are of concern to the future of Turkey and the Turkish people. Our Mission To develop and to nurture in people an awareness of the need to safeguard their own futures and the futures of their loved ones, to offer financial solutions that eliminate people’s doubts about the future and enhance the quality of their lives and to contribute to the development of the national economy by creating long-term financial resources. Our Corporate Strategy • Contribute to the stable growth of the industry by developing and maintaining a diverse range of products capable of satisfying customers’ needs and demands in terms of life insurance and private pensions. • Increase our market share by combining our success in offering innovative products and creating value through an extensive service network. • Provide our customers with financial security and enable them to save up for their retirement by taking advantage of the company’s experience and effectiveness in the industry to achieve superior performance in the management of pension funds. • Maintain a sustainable level of profitability that is above the market average. Anadolu Hayat Emeklilik 2019 Annual Report 9 F. Dilek Uyar Shots From Life As Seen By Women ‘19 Anadolu Hayat Emeklilik started Providing service via District Sales while continuing to lead the growth of operations in 1990 as Turkey’s first life Offices in İstanbul (3), Ankara (2), the sector. insurance company. İzmir, Adana, Bursa, Antalya, Trabzon A subsidiary of Türkiye İş Bankası A.Ş. and Kocaeli, a branch office in the Having acquired private pension (İşbank), Anadolu Hayat Emeklilik Turkish Republic of Northern Cyprus company status upon establishment is the first publicly traded pension besides its head office in İstanbul, of the private pension system in company in Turkey. Anadolu Hayat Emeklilik commands a Turkey in 2003, the Company began widespread service organization with The Company’s shares are quoted on offering services under the company its strong bancassurance network, the Borsa İstanbul (BIST) Stars Market name Anadolu Hayat Emeklilik A.Ş. direct sales force and nearly 250 Group 2 under the symbol ANHYT. Anadolu Hayat Emeklilik, which agencies. addresses a broad audience of Beyond being the company that policyholders and participants steers the sector, Anadolu Hayat with its value-added product and Emeklilik further builds on its identity service mix, assures a high level of as the company creating the highest customer satisfaction on the back amount of funds in the aggregate of of its extensive service network and life insurance and private pension, technological infrastructure. 10 Anadolu Hayat Emeklilik 2019 Annual Report 29 Years of Anadolu Hayat Emeklilik The Author of “Firsts” in Its Industry… 1990 2000 2003 Founded as Turkey’s first life Became the first and only life Transformed into a private pension insurance company. insurance company whose shares company. are publicly traded. 1990 the Company was transformed into a 2007 private pension company. Anadolu Hayat Emeklilik A.Ş. was First pensioners of the private pension founded as Turkey’s first life insurance The first private pension contract was system were entitled to pension company taking over the life insurance issued in October 27. benefits. activities carried out by Anadolu 2004 An agency agreement was signed with Anonim Türk Sigorta Şirketi. Bank Pozitif A.Ş. Undersigning yet another first, the 1991 Company introduced the “Pension Plan “Shots From Life As Seen By Women” District offices were opened in Ankara, for Housewives” that provides income photography contest has been held for Bursa, Adana and İzmir. for housewives without social security the first time. and supplementary income in older 1995 2008 ages. First payouts on maturity were made in Anadolu Hayat Emeklilik became According to legislation, the Company’s the “Insurance of the Future”. the first pension company to hit the health insurance portfolio and activities 300,000 participants mark under the 1999 were transferred to Anadolu Anonim private pension system. Lefkoşa Branch was set up in the Türk Sigorta Şirketi. The Company exceeded TL 1 billion in Turkish Republic of Northern Cyprus to Online payment of private pension total funds. conduct life insurance activities. Sirkeci contributions and life insurance and Kadıköy branches were opened.
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