| MERKEZ SİGORTA A.Ş. | ||||||||||||||||||
| COMPARATIVE BALANCE SHEET ANALYSIS | ||||||||||||||||||
| (Currency in US Dollars) | ||||||||||||||||||
| ASSETS | 1995 | 1996 | DIFFERENCE | 1997 | DIFFERENCE | 1998 | DIFFERENCE | 1999 | DIFFERENCE | |||||||||
| Amount | % | Amount | % | Amount | % | Amount | % | |||||||||||
| A. CURRENT ASSETS | ||||||||||||||||||
| I. LIQUID ASSETS | 1.308.470 | 3.225.155 | 1.916.685 | 146,48 | 2.911.361 | (313.793) | (9,73) | 56.558 | (2.854.803) | (98,06) | 38.279 | (18.279) | (32,32) | |||||
| A. Liquid Assets | 101.770 | 45.588 | (56.182) | (55,21) | 15.660 | (29.928) | (65,65) | 10.141 | (5.519) | (35,24) | 19.004 | 8.863 | 87,40 | |||||
| B. Banks | 1.206.700 | 3.179.567 | 1.972.867 | 163,49 | 2.895.701 | (283.866) | (8,93) | 46.417 | (2.849.284) | (98,40) | 19.275 | (27.142) | (58,47) | |||||
| II.MARKETABLE SECURITIES | 4.538.408 | 4.911.695 | 373.286 | 8,23 | 5.142.805 | 231.110 | 4,71 | 7.999.003 | 2.856.198 | 55,54 | 9.178.951 | 1.179.948 | 14,75 | |||||
| A. Marketable Securities | 4.538.408 | 4.911.695 | 373.286 | 8,23 | 5.142.805 | 231.110 | 4,71 | 8.133.041 | 2.990.236 | 58,14 | 9.178.951 | 1.045.910 | 12,86 | |||||
| B. Provision for Marketable Securities' Loss (-) | (134.038) | (134.038) | 134.038 | (100,00) | ||||||||||||||
| III. RECEIVABLES | 6.786.817 | 2.390.551 | (4.396.266) | (64,78) | 2.692.070 | 301.519 | 12,61 | 2.516.239 | (175.831) | (6,53) | 2.234.505 | (281.735) | (11,20) | |||||
| A. Insured Clients | 902.645 | 431.420 | (471.224) | (52,20) | 567.066 | 135.646 | 31,44 | 588.177 | 21.111 | 3,72 | 510.106 | (78.071) | (13,27) | |||||
| a. Insured Clients | 902.645 | 431.420 | (471.224) | (52,20) | 567.066 | 135.646 | 31,44 | 588.177 | 21.111 | 3,72 | 510.106 | (78.071) | (13,27) | |||||
| b. Provision for the Premium Receivables (-) | ||||||||||||||||||
| B. Agencies | 6.108.023 | 1.860.193 | (4.247.830) | (69,55) | 1.838.115 | (22.078) | (1,19) | 1.785.989 | (52.125) | (2,84) | 1.564.315 | (221.674) | (12,41) | |||||
| a. Agencies | 6.470.151 | 2.501.476 | (3.968.675) | (61,34) | 1.983.661 | (517.815) | (20,70) | 1.836.822 | (146.838) | (7,40) | 1.625.723 | (211.100) | (11,49) | |||||
| b. Provision for the Premium Receivables (-) | (362.128) | (641.283) | (279.155) | 77,09 | (145.546) | 495.737 | (77,30) | (50.833) | 94.713 | (65,07) | (61.408) | (10.575) | 20,80 | |||||
| C. Insurance and Reinsurance Companies | 20.875 | 15.919 | (4.956) | (23,74) | (4.636) | (20.555) | (129,12) | 27.156 | 31.792 | (685,76) | 23.041 | (4.115) | (15,15) | |||||
| D. Reserves at Cedant and Retrocedant Companies | 5.658 | 16.393 | 10.736 | 189,75 | 23.916 | 7.523 | 45,89 | 30.748 | 6.831 | 28,56 | 28.570 | (2.177) | (7,08) | |||||
| E. Other Receivables | (250.383) | 66.626 | 317.009 | (126,61) | 267.610 | 200.983 | 301,66 | 84.170 | (183.439) | (68,55) | 108.473 | 24.303 | 28,87 | |||||
| F. Doubtful Receivables | 911.694 | 911.694 | 475.001 | (436.693) | (47,90) | 252.483 | (222.519) | (46,85) | 139.328 | (113.154) | (44,82) | |||||||
| G. Provision for Doubtful Receivables (-) | (911.694) | (911.694) | (475.001) | 436.693 | (47,90) | (252.483) | 222.519 | (46,85) | (139.328) | 113.154 | (44,82) | |||||||
| TOTAL CURRENT ASSETS | 12.633.695 | 10.527.401 | (2.106.295) | (16,67) | 10.746.236 | 218.836 | 2,08 | 10.571.800 | (174.436) | (1,62) | 11.451.735 | 879.935 | 8,32 | |||||
| B. LONG TERM ASSETS | ||||||||||||||||||
| IV.PARTICIPATIONS | ||||||||||||||||||
| A. Participations | ||||||||||||||||||
| B. Provision for Participation Value Loss (-) | ||||||||||||||||||
| V.FIXED ASSETS | 727.131 | 685.876 | (41.255) | (5,67) | 462.624 | (223.252) | (32,55) | 390.935 | (71.689) | (15,50) | 310.578 | (80.357) | (20,56) | |||||
| A. Movable Assets | 444.379 | 364.996 | (79.384) | (17,86) | 253.750 | (111.245) | (30,48) | 172.518 | (81.233) | (32,01) | 117.217 | (55.301) | (32,06) | |||||
| a. Movable Assets | 918.347 | 925.660 | 7.313 | ,80 | 768.041 | (157.619) | (17,03) | 754.386 | (13.655) | (1,78) | 623.932 | (130.453) | (17,29) | |||||
| b. Accumulated Deprecations (-) | (473.968) | (560.664) | (86.697) | 18,29 | (514.291) | 46.374 | (8,27) | (581.868) | (67.578) | 13,14 | (506.716) | 75.153 | (12,92) | |||||
| B. Immovable Assets | 118.124 | 235.080 | 116.956 | 99,01 | 176.345 | (58.735) | (24,99) | 205.051 | 28.707 | 16,28 | 189.270 | (15.781) | (7,70) | |||||
| a. Immovable Assets | 122.845 | 245.261 | 122.416 | 99,65 | 183.919 | (61.341) | (25,01) | 214.105 | 30.186 | 16,41 | 197.714 | (16.392) | (7,66) | |||||
| b. Accumulated Deprecations (-) | (4.721) | (10.181) | (5.460) | 115,66 | (7.574) | 2.606 | (25,60) | (9.054) | (1.479) | 19,53 | (8.444) | 610 | (6,74) | |||||
| C. Special Costs | 164.628 | 85.800 | (78.827) | (47,88) | 32.529 | (53.272) | (62,09) | 13.366 | (19.162) | (58,91) | 4.091 | (9.275) | (69,39) | |||||
| a. Special Costs | 202.628 | 133.541 | (69.087) | (34,10) | 71.994 | (61.548) | (46,09) | 49.007 | (22.987) | (31,93) | 33.332 | (15.675) | (31,98) | |||||
| b. Accumulated Deprecations (-) | (38.000) | (47.741) | (9.740) | 25,63 | (39.465) | 8.275 | (17,33) | (35.641) | 3.824 | (9,69) | (29.241) | 6.400 | (17,96) | |||||
| VI.OTHER CURRENT ASSETS (NET) | 469.045 | 44.425 | (424.620) | (90,53) | (44.425) | (100,00) | ||||||||||||
| TOTAL LONG TERM ASSETS | 1.196.176 | 730.301 | (465.875) | (38,95) | 462.624 | (267.677) | (36,65) | 390.935 | (71.689) | (15,50) | 310.578 | (80.357) | (20,56) | |||||
| TOTAL ASSETS | 13.829.871 | 11.257.702 | (2.572.170) | (18,60) | 11.208.860 | (48.842) | (,43) | 10.962.735 | (246.125) | (2,20) | 11.762.313 | 799.578 | 7,29 | |||||