anadolu hayat emeklİlİk a.Ş. company presentation april 2009

ANADOLU HAYAT EMEKLİLİK A.Ş.ANADOLU HAYAT EMEKLİLİK A.Ş.COMPANY PRESENTATIONCOMPANY PRESENTATION

April 2009April 2009

2

IndexIndex

Corporate ProfileCorporate Profile

Lines of Business - Life & Pensions Lines of Business - Life & Pensions

FinancialsFinancials

Stock DataStock Data

3

Corporate VisionCorporate Vision

To be the leading company in To be the leading company in Turkey in all aspects of Turkey in all aspects of

personal financial planning personal financial planning concerning the future of concerning the future of

Turkey and the Turkish peopleTurkey and the Turkish people

4


First life insurance company in Turkey

Established in 1990 as a subsidiary of Türkiye İş Bankası

Market leader in life insurance sector since establishment

Has been operating in pension business since 27.10.2003

The only Life & Pension company publicly traded (since 2000)

5

Ownership StructureOwnership Structure

16%16%Free FloatFree Float

1%1%Milli Reasürans A.Ş.Milli Reasürans A.Ş.

1%1%Fortis Bank A.Ş.Fortis Bank A.Ş.

20%20%Anadolu Anonim Türk Sigorta Şirketi Anadolu Anonim Türk Sigorta Şirketi

62%62%Türkiye İş Bankası A.Ş.Türkiye İş Bankası A.Ş.

6

TOTAL NUMBER OF COMPANIES AS OF 2007TOTAL NUMBER OF COMPANIES AS OF 2007

Source: Source: Treasury

Insurance Companies (Insurance) 50

- Non-Life 28

- Life 11

- Life & Pension 10

- Pension 1

Reinsurance Companies 1

7

TURKEY INSURANCE SECTOR TURKEY INSURANCE SECTOR Premium Productions as of 2007Premium Productions as of 2007

Source: Treasury

Total Premium Per Capita (USD) 133

Non-Life Premium Per Capita (USD) 117

Life Premium Per Capita (USD) 16

Total Premium Production (Billion USD) 9,4

Total Premium Production / GDP 1,28 %

8

TURKEY PENSION SYSTEMTURKEY PENSION SYSTEMContributions as of 2008Contributions as of 2008

Source: Treasury

Total Pension Fund System Contributions Per Capita (USD) 50

Total Pension Fund System Contributions (Billion USD) 3,6

Total Pension Fund System Contributions / GDP 0,58 %

9

Growth StrategyGrowth Strategy

Shift Distribution Channel StrategyShift Distribution Channel Strategy Focus on BancassuranceFocus on Bancassurance New Strategic Partnerships with BanksNew Strategic Partnerships with Banks Expanding Direct Sales TeamExpanding Direct Sales Team Improve agency profileImprove agency profile

Improve Customer Service QualityImprove Customer Service Quality

Improve HR quality and thus productivityImprove HR quality and thus productivity

Focus on Corporate Pension BusinessFocus on Corporate Pension Business

1010

NetworkNetwork

BancassuranceBancassurance

Direct SalesDirect Sales

Agents & BrokersAgents & Brokers

OtherOther

244 Licensed Salesperson

311 Exclusive Agencies44 Brokers

InternetCall Centre

1049 branches 337 branches 334 branches 78 branches

4 branches 10 branches

11





12

Lines of BusinessLines of Business

EndowmentEndowment Term LifeTerm Life AnnuitiesAnnuities

IndividualIndividual CorporateCorporate

Life InsuranceLife InsurancePensionsPensions

13

Started Started on on 27.10.2003 27.10.2003 1122 Licensed Licensed ppension ension ccompaniesompanies Third Third ppillar illar ssystemystem Defined Defined ccontributionontribution Voluntary participationVoluntary participation Tax incentives for both participant & employerTax incentives for both participant & employer FFully funded ully funded system system Minimum retirement age is 56 Minimum retirement age is 56 Funds are managed by asset management companiesFunds are managed by asset management companies Separate pension accounts for each participantSeparate pension accounts for each participant Participants have the right to;Participants have the right to;

Switch funds or pension plan Switch funds or pension plan Transfer accounts between pension companies once a Transfer accounts between pension companies once a

yearyear Merge their separate pension accountsMerge their separate pension accounts Cease contribution paymentsCease contribution payments Leave at anytimeLeave at anytime

Private Pension System in Turkey Private Pension System in Turkey Basic FeaturesBasic Features

14

PPrivate Pension System in Turkey rivate Pension System in Turkey

Tax IncentivesTax Incentives

Contribution StageContribution Stage Contributions are tax deductible up to %10 of income Contributions are tax deductible up to %10 of income

with a cap of annual minimum wage.with a cap of annual minimum wage. Employer contributions are also tax deductible subject to Employer contributions are also tax deductible subject to

the same limitsthe same limits

Investment StageInvestment Stage Investment income of pension funds are tax exemptInvestment income of pension funds are tax exempt No stamp tax in setting up pension fundsNo stamp tax in setting up pension funds No tax on transactions in pension systemNo tax on transactions in pension system

Benefits paymentsBenefits payments %25 of retirement payments are exempt from income tax%25 of retirement payments are exempt from income tax Residual is subject to a witholding tax of 5 %Residual is subject to a witholding tax of 5 % Early surrenders are subject to 15% or 10%Early surrenders are subject to 15% or 10% (in case of (in case of

completion of 10 yrs within the system) witholding tax completion of 10 yrs within the system) witholding tax with no exemptionwith no exemption

15

TREASURY

PENSION MONITORING CENTRE

PARTICIPANT &SPONSOR

PENSION ACCOUNT

ADMINISTRATION*

ASSET MANAGEMENT **

FUND ADMINISTRATION

***

MONEY AND CAPITAL

MARKETS

CUSTODIAN BANK

CAPITAL MARKETS BOARD

Reporting of Reporting of Pension AccountPension Accountss

Reporting of Reporting of FundFundss

Reporting of Reporting of Pension AccountPension Accountss

Private Pension System in TurkeyPrivate Pension System in Turkey

* Anadolu Hayat Emeklilik * Anadolu Hayat Emeklilik

** İş Asset Management, HSBC Asset Management, TEB Asset ** İş Asset Management, HSBC Asset Management, TEB Asset ManagementManagement

*** Isbank*** Isbank

16

Private Pension System in Turkey Private Pension System in Turkey OverviewOverview as of 24.04.2009 as of 24.04.2009

-

2,000

4,000

6,000

8,000

2003 2004 2005 2006 2007 2008 2009/04

Fund

Siz

e(T

L M

il)

0

500,000

1,000,000

1,500,000

2,000,000

Num

ber o

f Pa

rtici

pant

s

Funds (TL Mil) Number Of Participants

17

Private Pension System OutlookPrivate Pension System Outlook

AHE 6 683% 47 272% 175 202% 529 72% 910 45% 1,323 15% 1,520

Sum of Sector 32 706% 258 313% 1,066 137% 2,527 81% 4,571 40% 6,384 12% 7,156

Market Share 18.8% 18.2% 16.4% 20.9% 19.9% 20.7% 21.2%

AHE 3,114 985% 33,798 190% 98,178 93% 189,567 57% 297,662 26% 376,455 4% 390,772

Sum of Sector 15,245 1961% 314,257 114% 672,696 60% 1,073,650 36% 1,457,704 20% 1,745,354 3% 1,791,316

Market Share 20.4% 10.8% 14.6% 17.7% 20.4% 21.6% 21.8%

2007 Change

As of 31.12.2003

2004 % Change

2006 Change

As of 31.12.2005

Net Asset Value (mio TL)

Number of Participants

2009 Change

As of 24.04.2009

As of 31.12.2004

2005 % Change

As of 31.12.2006

2008 Change

As of 31.12.2008

As of 31.12.2007

18

Private Pension SystemPrivate Pension SystemSectoral Expectations for 2013Sectoral Expectations for 2013

Consolidated Expectations of Pension Companies for 2013 Median

Total Number of Participants (Individual) 2,300,000

Total Number of Participants (Group) 953,941

Total Number of Participants (Total) 3,250,000

Total Number of Contracts (Individual) 2,500,000

Total Number of Contracts (Group) 985,495

Total Number of Contracts (Total) 3,475,000

Total Amount to be Invested (mio YTL) 23,000

Total Amount of Participant's Funds (mio YTL) 28,355

Total Number of Participants to Opt Out 650,000

Total Number of Contracts to be Transferred 105,000

Total Number of Authorized Intermediaries 15,000

Source: Pension Monitoring Center

19

KEY DRIVERS FOR GROWTH IN KEY DRIVERS FOR GROWTH IN PENSION BUSINESSPENSION BUSINESS

Economic Improvements in Turkey Structural reforms Extended maturities Purchasing power Lack of confidence in the social security

system

Advantages of Pension System Tax incentives Transparent system Participating to the investment process

New Regulations Vesting Right of transfers to the pension system

20

KEY DRIVERS FOR OUR MARKET KEY DRIVERS FOR OUR MARKET LEADERSHIPLEADERSHIP

Distribution network

Diversified products

Fund performance

Charging structure

Service quality

21

Private Pension System in Turkey Private Pension System in Turkey OverviewOverview as of 24.04.2009 as of 24.04.2009

Number Of Number Of ParticipantParticipant

ss

Market Market

ShareShareFundsFunds

(mio TL)(mio TL)Market Market

ShareShare

AHEAHE 390,772390,772 21.8%21.8% 1,5201,520 21.2%21.2%

XXXXXX 344,952344,952 19.3%19.3% 1,0271,027 14.4%14.4%

XXXXXX 287,043287,043 16.0%16.0% 1,5761,576 22.0%22.0%

XXXXXX 253,302253,302 14.1%14.1% 1,0601,060 14.8%14.8%

XXXXXX 153,343153,343 8.6%8.6% 396396 5.5%5.5%

Other 7Other 7 361,904361,904 20.2%20.2% 1,5771,577 22.1%22.1%

TotalTotal 1,791,3161,791,316 100.0%100.0% 7,1567,156 100.0%100.0%

22

Private Pension Funds & Mutual Private Pension Funds & Mutual FundsFunds

Fund Type

Average Maturit

y

Net Asset Value

(mio TL)Equity

(%)

Turkish Treasury

Bonds(%)

Reverse Repo (%)

Money Market Inst.

(%)

Foreign Currency Sec.(%)

Other (%)

PRIVATE PENSION FUNDS

31.12.2008 376 6,369 7.83 69.73 15.56 0.01 0.53 6.34

24.04.2009 374 7,091 7.70 72.33 15.58 0.01 0.46 3.92

MUTUAL FUNDS

31.12.2008 53 23,692 1.51 43.46 50.24 4.30 0.04 0.45

24.04.2009 76 30,664 1.34 42.38 52.12 3.40 0.04 0.72

23

Pension Pension Products Products Fund MenuFund Menu

ConservativeConservative BalancedBalanced AggressiveAggressive Cash Fund

Conservative Fund

Bond Fund

Intnl. Mixed Fund

Eurobond $ Fund

Eurobond € Fund

Balanced Fund

Equity Fund

Aggressive Fund

64%64% 27%27% 9%9%

24

31.12.2008-24.04.2009 31.12.2008-24.04.2009 Weighted Average ReturnWeighted Average Return

Private Pension FirmNet Asset Value

(mio TL)Weighted Average

Return (%)

XXXXXX 396396 9.529.52

Anadolu Hayat EmeklilikAnadolu Hayat Emeklilik 1,5201,520 8.358.35

XXXXXX 88 7.997.99

XXXXXX 7676 7.827.82

XXXXXX 1,0601,060 7.547.54

XXXXXX 1,5761,576 7.477.47

XXXXXX 362362 7.207.20

XXXXXX 33 6.926.92

XXXXXX 423423 6.756.75

XXXXXX 1,0271,027 6.656.65

XXXXXX 266266 6.446.44

XXXXXX 439439 6.026.02

TOTAL 7,156 7.39

2525

PensionPension Production Production bby y ChannelChannel

20072007 20082008 2009 / 42009 / 4

Direct to Customer Direct to Customer + +

Direct SalesDirect Sales

2,1 %2,1 % 3,4 %3,4 % 5,7 %5,7 %

BrokerBroker 1,0 %1,0 % 1,0 %1,0 % 1,0 %1,0 %

AgencyAgency 4,4 %4,4 % 6,2 %6,2 % 8,2 %8,2 %

BANCASSURANCEBANCASSURANCE

Is BankIs Bank 5,5 %5,5 % 2,5 %2,5 % 5,6 %5,6 %

Is Bank + Direct Is Bank + Direct SalesSales

37,8 %37,8 % 43,9 %43,9 % 42,6 %42,6 %

Is Bank + AgencyIs Bank + Agency 18,3 %18,3 % 19,0 %19,0 % 15,7 %15,7 %

HSBCHSBC 23,4 %23,4 % 17,8 %17,8 % 16,8 %16,8 %

TEB + AgencyTEB + Agency 7,0 %7,0 % 4,9 %4,9 % 3,7 %3,7 %

AnadolubankAnadolubank 0,5%0,5% 1,3 %1,3 % 0,7 %0,7 %

TotalTotal 100 %100 % 100%100% 100%100%

63,9 %

26

Pension Pension Products Products Charging Structure & Minimum Charging Structure & Minimum ContributionContribution

ENTRANCE FEEENTRANCE FEE

MANAGEMENT MANAGEMENT FEEFEE

FUND FUND MANAGEMENTMANAGEMENT

FEEFEE

MIN. MIN. CONTRIBUTIONCONTRIBUTION

ExplanationExplanation Charging MethodCharging Method LimitLimit Individual Pension Individual Pension PlansPlans (#3) (#3)

Group Pension Group Pension PlansPlans

(#117)(#117)

At the phase At the phase of entrance to of entrance to the System for the System for each pension each pension

accountaccount

Can be deferred Can be deferred till the leaving till the leaving date or can be date or can be collected by collected by installmentsinstallments

½½ of of Minimum Minimum

WageWage

½ of m½ of minimum inimum wagewage

Deferred till Deferred till leaving within 5 leaving within 5

yrs. yrs. After 5 yrs After 5 yrs

completion 0completion 0

0 to 0 to ½ of ½ of mminimum wage inimum wage

Deferred till Deferred till leaving within 5 leaving within 5

yrs. for some yrs. for some plansplans

After 5 yrs After 5 yrs completion 0 for completion 0 for

all plansall plans

To cover To cover administrative administrative

expensesexpensesOn contributionsOn contributions 8%8%

00%% to to 88% % ((depending on the depending on the

contribution contribution amount & amount &

payment methodpayment method))

%0 to %5%0 to %5

To cover fund To cover fund management management

expensesexpenses

On NAV of each On NAV of each fundfund

1/10,000 1/10,000 (daily)(daily)

3,72% 3,72% (annual)(annual)

2.2.55% (annual % (annual average)average) %1 to %2,%1 to %2,66

(annual)(annual)

Min.Min. monthly monthly amount to be amount to be paid regularly paid regularly for at least 10 for at least 10

yrs.yrs.

-- -- 6666 TLTL 4242 TL TL

27272727

Life Insurance in Turkey Life Insurance in Turkey Market SMarket Shares (Premium Production)hares (Premium Production)

PENSION COMPANYPENSION COMPANY 20062006 20072007 20082008

AHEAHE 25 %25 % 24 %24 % 22%22%

XXXXXX 13 %13 % 15 %15 % 19%19%

XXXXXX 9 %9 % 11 %11 % 9%9%

XXXXXX 7 %7 % 8 %8 % 8%8%

XXXXXX 8 %8 % 7 %7 % 7%7%

XXXXXX 6 %6 % 6 %6 % 5%5%

OthersOthers 31 %31 % 29%29% 30%30%

TOTALTOTAL 100 %100 % 100%100% 100%100%

2828

Life Insurance in Turkey Life Insurance in Turkey Market SMarket Shares (Mathematical Reserves)hares (Mathematical Reserves)

PENSION PENSION COMPANY COMPANY 20062006 20072007

%% ( Mio TL)( Mio TL) %% ( Mio TL)( Mio TL)

AHE AHE 3434 1.3021.302 35,035,0 1.4201.420

XXXXXX 1313 511511 1212 476476

XXXXXX 1111 425425 1111 460460

XXXXXX 1010 375375 1010 406406

XXXXXX 77 266266 77 277277

XXXXXX 66 229229 55 221221

OthersOthers 2020 759759 2020 795795

TOTAL TOTAL 100100 3.8673.867 100100 4.0544.054

Source: Treasury

29

Life ProductsLife Products / / Profit Sharing RatesProfit Sharing Rates

YEARYEARPROFIT PROFIT

SHARE(%)SHARE(%) USD(%)USD(%) CPI(%)CPI(%)

19991999 119 119 7733 69 69

20002000 43 43 24 24 39 39

20012001 76 76 111144 69 69

20022002 62 62 14 14 30 30

20032003 47 47 -15-15 18 18

20020044 2929 --44 99

20020055 2323 00 88

20020066 1616 55 1010

20072007 2020 -17-17 88

20082008 1717 3030 1010

AVERAGEAVERAGE 4545 2222 2727

303030

Life PortfolioLife PortfolioTotal Number of PoliciesTotal Number of Policies

20072007 20082008 2008 / 32008 / 3 2009 / 32009 / 3

EndowmeEndowmentnt 125.697125.697 103.724103.724 118.212118.212 98.87898.878

AnnuityAnnuity 39.39439.394 39.22339.223 39.21039.210 38.73938.739

Term LifeTerm Life 711.556711.556 667.734667.734 666.053666.053 733.228733.228

TotalTotal 876.647876.647 810.681810.681 823.475823.475 870.845870.845

313131

Life Portfolio Life Portfolio Total Premium Production(TL)Total Premium Production(TL)

20072007 20082008 2008 / 32008 / 3 2009 / 32009 / 3

EndowmEndowmentent

177.682.0177.682.06969

176176..014014.1.17474 4242..654654..242242 4444..663663..3939

99

AnnuityAnnuity 111.279.9111.279.99494

134134..910910..668383 3939..659659..398398 4747..750750..2424

55

Term LifeTerm Life 49.930.4049.930.4044

3333..989989..424200

1010..263263..930930 66..718718..904904

TotalTotal 338.892.4338.892.46767

344.914.2344.914.27777 92.577.57092.577.570 99.132.5499.132.54

88

323232

Life Portfolio Life Portfolio Premium Production - New Business (Premium Production - New Business (TL)TL)

2008 2008 2008 / 32008 / 3 2009 / 32009 / 3

EndowmenEndowmentt

6.980.1406.980.140 1.115.4731.115.473 2.853.7852.853.785

AnnuityAnnuity 134.910.6134.910.68383 39.659.39839.659.398 47.750.24547.750.245

Term LifeTerm Life 33.491.0133.491.0122

10.062.07810.062.078 6.799.6466.799.646

TotalTotal 175.381.8175.381.83535 50.836.94950.836.949 57.403.67657.403.676

333333

Life Life Production Production bby y ChannelChannel

20072007 2008 2008 2009 / 3 2009 / 3

Agency & BrokerAgency & Broker 40 %40 % 43 %43 % 33 %33 %

Direct to Customer & Direct Direct to Customer & Direct SalesSales

23 %23 % 30 %30 % 41 %41 %

IsbankIsbank 27 %27 % 16 %16 % 20 %20 %

IsbankIsbank & Direct Sales & & Direct Sales & AgencyAgency

9 %9 % 10 %10 % 5 %5 %

HSBCHSBC 1 %1 % 1 %1 % 1 %1 %

TotalTotal 100 %100 % 100%100% 100%100%

25%

34

LLife Products ife Products Charging StructureCharging Structure

AGENCY AGENCY COMMISSIONCOMMISSION

MANAGEMENMANAGEMENT FEET FEE

FUND FUND CHARGECHARGE

RISK RISK PREMIUMPREMIUM

ExplanatioExplanationn

CharginCharging g

MethodMethodLimitLimit Individual Life Individual Life

ProductsProductsGroup Life Group Life ProductsProducts

--On On

premiupremiumsms

For term life products For term life products total of commission total of commission rates cannot exceed rates cannot exceed

25%.25%.For other products total For other products total

of commission rates of commission rates cannot exceed cannot exceed 550%.0%.

Annual max.limit is 10% Annual max.limit is 10%

TRL - $/€TRL - $/€

1.Year 1.Year 3030%%--2200%%

2. Year 5%2. Year 5%-2-2%%

3. 3. YYearear+ 3+ 3%%--2%2%

Varies Varies according to according to

the groupthe group

To cover To cover administraadministra

tive tive expensesexpenses

On On premiupremiu

msms NoneNone

TRL - $/€TRL - $/€

1.Year 1.Year 55%%-3-3%%

2. Year 2. Year 44%%-3-3%%

3. 3. YYearear+ 3+ 3%%--33%%

Varies Varies according to according to

the groupthe group

To cover To cover fund fund

manmanaagemegement nt

expensesexpenses

On On current current year’s year’s

revenuerevenuess

Max. 1Max. 155% of the % of the revenuesrevenues

5%5%10% for early 10% for early

surrenderssurrenders

5%5%10% for 10% for

early early surrenderssurrenders

Depends Depends on the age on the age and sex of and sex of

the the insuredinsured

On On premiupremiu

msms

No minimum or No minimum or maximum limitsmaximum limits -- --

35





363636

( Mio TL)( Mio TL) 20072007 20082008

Written Premium Written Premium 337 337 345345

General General Technical Profit Technical Profit 88 1818

Total Assets Total Assets 2.8252.825 3.4003.400

Paid-In Capital Paid-In Capital 175175 250250

Shareholders’ Equity Shareholders’ Equity 344344 350350

MathMath.&.& Profit Sharing Profit Sharing ProvisionsProvisions 1.4531.453 1.6081.608

Net Net ProfitProfit 4545 5353

Financial HighlightsFinancial Highlights

3737

(Mio TL)(Mio TL) 2008/32008/3 2009/32009/3

Written Premium Written Premium 9393 9999

General General Technical Profit Technical Profit 0,20,2 88

Total Assets Total Assets 2.8812.881 3.5863.586

Paid-In Capital Paid-In Capital 175175 250250

Shareholders’ Equity Shareholders’ Equity 292292 340340

MathMath.&.& Profit Sharing Profit Sharing ProvisionsProvisions 1.4861.486 1.6571.657

Net Net ProfitProfit 99 2323

Financial HighlightsFinancial Highlights

383838

FinancialsFinancials Income StatementIncome Statement

2007 2008

A- 0,2 0,5

B- -0,3 -0,4

I - -0,1 0,1

C- 556,9 629,5

D- -530,6 -618,2

II- 26,3 11,3

E- 38,2 58,5

F- -56,5 -51,6

III- -18,3 6,9

IV- 7,9 18,3

G- 58,0 58,9

H- -5,4 -8,9I- -3,5 -0,9

V- 49,1 49,1

VI- 57,0 67,4

VII- -11,6 -14,4

IX- 45,4 53,0

GENERAL TECHNICAL PROFIT / LOSS

NON-LIFE TECHNICAL PROFIT / LOSS

NON-LIFE TECHNICAL EXPENSES

LIFE TECHNICAL EXPENSES

LIFE TECHNICAL PROFIT / LOSS

NON-LIFE TECHNICAL INCOME

LIFE TECHNICAL INCOME

(Mio YTL)

TECHNICAL PART

PENSION FUND TECHNICAL INCOME

PENSION FUND TECHNICAL EXPENSES

PENSION FUND TECHNICAL PROFIT / LOSS

PERIOD NET PROFIT / LOSS (VII - VIII)

INVESTMENT INCOME

INVESTMENT EXPENSESPROFIT FROM OTHER & EXTRAORDINARY

PERIOD PROFIT / LOSS (IV+V)

PROVISION FOR TAX & OTHER LEGAL LIABILITIES

COMPANY ASSETS PROFIT / LOSS

3939

FinancialsFinancials Income StatementIncome Statement

2008/3 2009/3

A- -0,16 0,086

B- -0,25 -0,074

I - -0,41 0,012

C- 167,2 178,8

D- -166,5 -174,5

II- 0,7 4,3

E- 14,0 18,2

F- -14,1 -14,3

III- -0,1 3,9

IV- 0,2 8,2

G- 12,0 22,3

H- -1,2 -1,7I- -0,3 0,8

V- 10,5 21,4

VI- 10,7 29,6

VII- -1,9 -6,2

IX- 9 23PERIOD NET PROFIT / LOSS (VII - VIII)

INVESTMENT INCOME

INVESTMENT EXPENSESPROFIT FROM OTHER & EXTRAORDINARY

PERIOD PROFIT / LOSS (IV+V)

NON-LIFE TECHNICAL EXPENSES

PROVISION FOR TAX & OTHER LEGAL LIABILITIES

LIFE TECHNICAL EXPENSES

LIFE TECHNICAL PROFIT / LOSS

NON-LIFE TECHNICAL INCOME

LIFE TECHNICAL INCOME

(Mio TL)

TECHNICAL PART

COMPANY ASSETS PROFIT / LOSS

PENSION FUND TECHNICAL INCOME

PENSION FUND TECHNICAL EXPENSES

PENSION FUND TECHNICAL PROFIT / LOSS

GENERAL TECHNICAL PROFIT / LOSS

NON-LIFE TECHNICAL PROFIT / LOSS

404040

FinancialsFinancials Balance SheetBalance Sheet

2007 2008

I. 62 75,3

II. 1.716,3 1.948,9

III. 934,3 1.334,7

IV. 82,2 4

V. 24,4 24,4

VI. 5,8 12,7

2.825 3.400

I. 957,0 1.360,2

II. 1.506,3 1.669,8

III. 7,4 4,7

IV. 10,0 15,3

V. 344,3 350

VI. 45,4 53,0

2.825 3.400

(Mio YTL)

ASSETS

TAX PROVISIONS

RECEIVABLES

INVESTMENTS

LIQUID ASSETS

LIABILITIES AND SHAREHOLDERS' EQUITY

PAYABLES

TECHNICAL PROVISIONS

OTHER PROVISIONS

SHAREHOLDERS' EQUITY

PROFIT

TOTAL LIAB.& SH.EQUITY

MARKETABLE SECURITIES

FIXED ASSETS

OTHER ASSETS (NET)

TOTAL ASSETS

4141

FinancialsFinancials Balance SheetBalance Sheet

2008/3 2009/3

I. 66 71

II. 1.793 2.002

III. 987 1.463

IV. 4 4

V. 24 24

VI. 7 22

2.881 3.586

I. 1.037 1.501

II. 1.543 1.719

III. 4 5

IV. 5 21

V. 292 340

2.881 3.586

(Mio TL)

ASSETS

TAX PROVISIONS

RECEIVABLES

INVESTMENTS

LIQUID ASSETS

LIABILITIES AND SHAREHOLDERS' EQUITY

PAYABLES

TECHNICAL PROVISIONS

OTHER PROVISIONS

SHAREHOLDERS' EQUITY

TOTAL LIAB.& SH.EQUITY

MARKETABLE SECURITIES

FIXED ASSETS

OTHER ASSETS (NET)

TOTAL ASSETS

42





43

ANADOLU HAYAT EMEKLİLİKANADOLU HAYAT EMEKLİLİK Stock DataStock Data

YearYearYear-endYear-end

PricePrice ($) ($)MCAPMCAP($)($)

20032003 0,560,56 140.000.140.000.000000

20042004 0,980,98 245.000.000245.000.000

20020055 1,801,80 450.000.00450.000.0000

20062006 2,052,05 512.500.000512.500.000

20072007 2,552,55 637.500.000637.500.000

20082008 0,830,83 207.500.000207.500.000

2009/32009/3 0,800,80 200.000.000200.000.000

44

THANK YOU…THANK YOU…

anadolu hayat emeklİlİk a.Ş. company presentation april 2009

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