SUBSIDIARIES
ANADOLU SİGORTA
The Leader in Non-Life Insurance
Branches
Operating in non-life insurance branches,
Anadolu Anonim Türk Sigorta Şirketi
(Anadolu Sigorta) is one of Turkey’s leading
general insurance companies. At year-end
2012, the company posted TL 2,235 million
in premium production. As of end-2012, the
company showed assets worth TL 2,352
million and shareholders’ equity worth
TL 610 million on a consolidated basis.
İşbank controls Anadolu Sigorta indirectly
through its reinsurance subsidiary, Millî
Reasürans.
MİLLÎ REASÜRANS
Uninterrupted Reinsurance Services
since 1929
The deep-rooted reinsurance company
in the Turkish reinsurance sector, Milli
Reasürans T.A.Ş. was founded in 1929.
Millî Reasürans singlehandedly fulfills
approximately 20% of the reinsurance
coverage needs in the Turkish insurance
industry.
In October 2012, A.M. Best, one of the
world’s most respected insurance industry
rating agencies, assigned Millî Reasürans
a financial strength rating of “B+”. In July
2012, Standard & Poor’s confirmed Millî
Reasürans’s national credit rating as “tr AA”.
In line with its strategy of bringing the
reinsurance knowledge and experience
acquired in its domestic market into the
global arena, Millî Reasürans has opened
a branch in Singapore. As of end-2012,
the company showed total assets worth
TL 1,764 million and shareholders’ equity
worth TL 658 million on an unconsolidated
basis.
İŞ LEASING
A Pioneer In the Financial Leasing Sector
İş Finansal Kiralama A.Ş. (İş Leasing) is one of
the pioneers of the leasing sector in Turkey.
The company’s mission is to give priority
to funding SMEs, to develop and maintain
a broad-based and high-quality portfolio
and to satisfy customers’ demands with
effective, fast, high-quality solutions.
As of end-2012, İş Leasing had total
consolidated assets worth TL 2,820 million
and TL 566 million in shareholders’ equity.
Its portfolio of financial leasing contracts
had an aggregate value of TL 1,391 million.
In its December 2012 assessment, the
international credit rating agency Fitch
Ratings confirmed İş Leasing’s long-term
foreign currency rating as “BBB-”, its
long-term local currency IDR as “BBB-”
and its long-term national credit rating as
“AAA(tur)”.
İŞ GYO
One of Turkey’s Largest Real Estate
Investment Trusts
İş Gayrimenkul YatırımOrtaklığı A.Ş. (İş GYO)
maintains a portfolio of real estate properties;
consistently enhancing their quality, İş GYO
also develops newprojects aimed at further
expanding and diversifying the portfolio.
As of end-2012, the Company had total assets
worth TL 1,392million and TL 1,070million in
shareholders’ equity on a consolidated basis.
MILLÎ REASÜRANS IS THE
ONLY DOMESTICALLY-
OWNED REINSURER
ACTIVE IN THE TURKISH
INSURANCE MARKET,
A HIGHLY-COMPETITIVE
ARENA WHOSE OTHER
PLAYERS NUMBER
THE WORLD’S BIGGEST
AND MOST RENOWNED
REINSURANCE COMPANIES
AND INSURANCE GROUPS.
60
İŞBANK
ANNUAL REPORT 2012
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