We are rebuilding our service cycle on a new axis: digital insurance... Annual Report 2015 Previous years’ annual reports of Anadolu Sigorta Content General Information 27 Information on Associates 75 Other Matters and Financial Statements 1 Corporate Profile 27 Repurchased Own Shares by the Company 75 Independent Auditor’s Report Related to 1 Our Vision, Our Mission, 27 Disclosures Concerning Special Audit and Annual Report Our Corporate Values Public Audit 76 An Assessment of the Board Directors by the 2 Milestones from the History of 27 Lawsuits Filed Against the Company and Corporate Governance Committee Anadolu Sigorta Potential Results 78 Disclosure Policy 4 Message from the Chairman 27 Disclosure of Administrative or Judicial 80 Corporate Governance Principles 6 Message from the CEO Sanctions Against the Company and/or Board Compliance Report 10 The Organization, Capital and Shareholder of Directors Members 90 Committees Operating Within Structure of the Company 27 Assessment of Prior Period Targets and Anadolu Sigorta and an Assessment by the 10 Organization Chart General Assembly Decisions Board of Directors 11 Capital and Shareholder Structure 27 Expenses Incurred in Relation to Donations 94 An Assessment of the Operation of the 11 Disclosures on Preferred Shares and Grants and Social Responsibility Projects Independent Audit Firm in 2015 Activity 12 Governing Body, Executives and the Number 28 Commitment to Social Responsibility Period via the Audit Committee of Employees 31 The Company’s Transactions with the Risk Group 95 Human Resources Practices at 12 Board of Directors 32 Financial Status Anadolu Sigorta 15 Declarations of Independence by 32 Summary Report by the Board of Directors 96 Agenda of the Annual General Assembly Independent Members of the Board of 36 Financial Information and Indicators Meeting Directors 38 2015 Economic Overview 97 Dividend Distribution Proposal 16 Senior Management 44 Overview of the World and Turkish Insurance 98 2015 Profit Distribution Table 18 Heads of Units Under the Internal Systems Industries and Future Outlook 99 2015 Annual Report Compliance Statement 18 Average Number of Employees by Categories 49 Developments and Changes in Legislation 100 Detailed Income Statement During the Reporting Period 58 An Assessment of Anadolu Sigorta in 2015 102 31 December 2015 Unconsolidated Financial 19 Financial Affairs and Actuarial Unit Managers 66 Assessment of the Company Capital and Statements Together with Independent 19 Financial Rights Provided to the Members of Comments Auditors’ Report Thereon the Governing Body and Executives 67 Profit Distribution Policy 184 Information on Consolidated 19 Financial Rights 70 Risks and an Assessment by the Governing Body Subsidiaries 19 Other Means 70 Risk Management Policies Adhered to by 185 31 December 2015 Consolidated Financial 22 Research and Development Activities of the Types of Risks Statements Together with Independent Company 73 Activities of the Committee of Early Auditors’ Report Thereon 22 Research and Development Pertaining to New Determination of Risk 266 An Assessment of Financial Standing, Services and Business Activities Profitability and Solvency 24 Company Activities and Major Developments in 267 Information on Financial Structure Activities 268 Summary Financial Information for the Last 24 2015-2016 Primary Goals, Policies 5 Years Including the Reporting Period 24 Information on the Company’s Investments 268 Information for Investors 25 Internal Control System and Internal Audit Activities 25 An Assessment of 2015 by the Board of Inspectors 26 Internal Control System and Internal Audit Activities General Information Anadolu Anonim Türk Sigorta Şirketi Mediterranean Regional Branch Central Anatolia Regional Branch 2015 Annual Report Konyaaltı Cad. No: 78 Cinnah Cad. Farabi Sok. No: 43 Muratpaşa 07050 Antalya Kavaklıdere 06690 Ankara 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 0 749 E-mail: [email protected] E-mail: [email protected] Website www.anadolusigorta.com.tr Western Anatolia Regional Branch Black Sea Regional Branch Atatürk Cad. No: 92 Karşıyaka Mah. 4 Nolu Sok. No: 479 Anadolu Sigorta Trade Registration No Anadolu Sigorta Binası 2 Ortahisar 61040 Trabzon 4593/557 Pasaport Konak 35210 İzmir Tel: +90 850 744 0 744 Tel: +90 850 744 0 744 Fax: +90 850 744 0 751 Directory Fax: +90 850 744 0 747 E-mail: [email protected] E-mail: [email protected] Head Office Marmara Regional Branch Rüzgarlıbahçe Mah. Kavak Sok. No: 31 Middle Black Sea Regional Branch Odunluk Mah. Akademi Cad. Kavacık 34805 İstanbul Kılıçdede Mah. Ülkem Sok. No: 8-A/7 Zeno İş Merkezi A Blok No10/5 Tel: +90 850 744 0 744 İlkadım 55060 Samsun Nilüfer 16110 Bursa Fax: +90 850 744 0 745 Tel: +90 850 744 0 744 Tel: +90 850 744 0 744 E-mail: [email protected] Fax: +90 850 744 0 750 Fax: +90 850 744 0 748 E-mail: [email protected] E-mail: [email protected] İstanbul Regional Branch Beytem Plaza Büyükdere Cad. 20/B Southern Anatolia Regional Branch Turkish Republic of Northern Cyprus Branch Şişli 34394 İstanbul Reşatbey Mah. 62029. Sok. No: 16/A Memduh Asaf Sok. 8 Tel: +90 850 744 0 744 Seyhan 01120 Adana Köşklüçiftlik Lefkoşa / KKTC Fax: +90 850 744 0 753 Tel: +90 850 744 0 744 Tel: +90 92 227 95 95 E-mail: [email protected] Fax: +90 850 744 0 746 Fax: +90 392 227 95 96 E-mail: [email protected] E-mail: [email protected] Kadıköy Regional Branch K2 Plaza Sarıkanarya Sok. No: 14 Kozyatağı 34742 İstanbul Tel: +90 850 744 0 744 Fax: +90 850 744 0 754 E-mail: [email protected] General Information 1 Corporate Profile, Our Vision, Our Mission, Our Corporate Values Corporate Profile, Our Vision, Our Mission, Our Corporate Values Corporate Profile In 2015, Anadolu Sigorta expanded its total Anadolu Sigorta registered its highest Turkey’s first national insurance company premium production by 20.2% year-on- premium production in the motor vehicle and the pioneer in the sector, Anadolu year to TL 3,610.7 million and controlled a liability with TL 1,042.8 million, followed Sigorta will keep contributing to the 13.2% share of the overall market among by the motor vehicles branch with TL advancement of the insurance business in non-life companies. Anadolu Sigorta 845.7 million in 2015. Trailing these two Turkey in the light of its mission and vision, pursues its operations via nine regional branches, in order, were fire and natural and further build on its solid position in the branches across the nation and one disasters with TL 637.5 million, illness/ industry on the back of its powerful digital branch in the Turkish Republic of Northern health with TL 328.3 million, general losses insurance initiative. Cyprus. The number of employees on the with TL 298.8 million and general liability company’s payroll averaged 1,083 in 2015. with TL 122.9 million. Our Vision Our Mission • To make Anadolu Sigorta the • In keeping with the deeply-rooted, pioneering, honest, and solid corporate insurance brand preferred by values of Anadolu Sigorta to: everyone who needs insurance. • Lead the sector, • To achieve a strength that makes it • Help create a broad public awareness of insurance in Turkey, a reference point in the worldwide • Implement a customer-focused approach to service, insurance industry as well. • Increase our financial strength to international standards, • Enhance the value of our company. Our Corporate Values A Company Entrenched In Pioneership: Integrity: Powerful Structure: History: • Pioneer in creating product; • It has ethical merits; • It has a stable financial • It was founded in accordance • Pioneer in service; • It fulfills its promises power; with the instructions given • Pioneer in technology; definitely; • It has an extended and by Mustafa Kemal Atatürk. • With its self-renewing ability • It inheres in transparency as efficient service network; • It is Turkey’s first national preserves its pioneering principle; • It has a sophisticated and insurance company. position; • It never abandons human high qualified human source; • It has a powerful corporate • It plays a pioneering role in values. • It gains power from the structure built on its social responsibility. synergy created by İşbank. knowledge of insurance accumulated through the years. Anadolu Sigorta Annual Report 2015 2 General Information Milestones from the History of Anadolu Sigorta Milestones from the History of Anadolu Sigorta 1920’s 1960’s 1970’s 1980’s 1925 1961 1975 1983 Anadolu Sigorta was founded on The first data processing system Being the leader of national “Blue Insurance” policies April 1 at the initiative of Atatürk was set up. insurance since the onset of the marking the introduction of and under the leadership of İşbank, Turkish Republic, Anadolu Sigorta comprehensive insurance system Turkey’s first national bank. celebrated its 50th anniversary. in Turkey and offering 17 types of cover were put on sale for the first time. 1984 Highly acclaimed by the public and the sector, “Insurance of the Future”, the most comprehensive life policy ever offered in Turkey until then, was introduced. 1986 Representing a new branch in the Turkish insurance business, “Electronic Equipment Insurance” was first started by Anadolu Sigorta. 1987 Activities commenced in the agricultural insurance branch. Anadolu Sigorta Annual Report 2015 3 1990’s 2000’s 2010’s 1991 2001 2010 The life branch was transferred to After providing service for over five The company celebrated its 85th Anadolu Hayat Sigorta, a newly- decades, the company was relocated anniversary. formed life insurer as required by law. from its building in Karaköy to İş Towers, where it would be together with İşbank Planned within the frame of the 1993 subsidiaries. C2C change program, the first set of Extending administrative and changes was put into life.