INVESTOR PRESENTATION19Q1

1

Company & Market Potential 3

Company Overview 9

Financial Highlights 17

2

Company & Market Potential

Company Overview

Financial Highlights

3

35,4

39,7

47,7

5,06,8 6,9

12.16 12.17 12.18

Premium Production (₺ Bn)

Non Life Life

Premium Production

SOURCE: Association of Insurance Companies

Non Life 38

Life 22

Reinsurance 2

Total 62

Non Life 26

Life 18

Reinsurance 1

Total 45

Number of Companies Number of Foreign Shared Companies

4

Life2,5

14%

Non-Life15,0 86%

19Q1 (bn TRY)

Life Non-Life

Mandatory Policies in Turkey (Earthquake & MTPL)

SOURCE: turkstat, State Planning Organization, Association of Insurance Companies, bkm, tramer, TCIP

17,7 million houses

52,6% of houses are non-insured

22,5 million vehicles

22,7% of vehicles are non-insured (MTPL)

74% of vehicles are non-insured (MOD)

EARTHQUAKE MTPL & MOD

5

2017Premium / GDP

(%)Premium Per Person

($)

World 2,80 297

USA 4,28 2.542

UK 2,36 938

Switzerland 4,12 3.289

Poland 2,08 288

Turkey 1,20 126

SOURCE: Treasury, Association of Insurance Companies, Swiss Re Sigma 3,2018

6

Non-Life Trends in the Sector

10893 106 114 123

143 133 124144

126

165

138

163

215 219

305 308

361

505

473

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Non-Life Premium Per Person

Premium($) Premium(TRY)

Top 10 Non-Life Companies in the Sector-19Q1

(₺ Mn)Premium

Production19M3

PremiumProduction

18M3

Change (YoY) (%)

Allianz 1.724 1.469 17,4

Anadolu 1.609 1.378 16,7

Aksigorta 1.058 932 13,5

Axa 1.044 840 24,3

Ziraat 1.018 845 20,5

Top 5 Companies 6.453 5.464 18,1

6 to 10 3.379 2.742 23,2

Top 10 Companies 9.832 8.205 19,8

Other 5.215 4.456 17,0

Total 15.047 12.661 18,8

SOURCE: Association of Insurance Companies

7

Allianz11,5%

Anadolu10,7%

Aksigorta7,0%

Axa6,9%

Ziraat6,8%

6 to 1022,5%

Other34,7%

PRODUCTION SHARE BY COMPANIES

Non-life Companies Premium Production

SOURCE: Association of Insurance Companies

Anadolu Sigorta (₺ Mn) Non-Life Sector (₺ Mn)

19Q1 18Q1 ΔYoY 19Q1 18Q1 ΔYoY

Branch GPW GPW Growth GPW GPW Growth

MTPL 405 376 7,7% 4.099 3.636 12,7%

MOD 293 234 25,2% 2.119 1.827 16,0%

Fire and Nat. D. 256 209 22,5% 2.127 1.690 25,8%

Health 258 218 18,3% 2.657 2.015 31,9%

Other 397 341 16,4% 4.045 3.493 15,8%

Total 1.609 1.378 16,8% 15.047 12.661 18,8%

8

Company & Market Potential

Company Overview

Financial Highlights

9

o Founded by Mustafa Kemal Atatürk in 1925

o First national insurance company

o Main activity: Non-life insurance(until 1991, both life and non-life)

o group company

History

10

Shareholder Structure (19Q1)

(*)Milli Reasürans

57%

Other43%

(*) 77% of Milli Reasürans is owned by T. İş Bankası

Milli Reasürans Türk Anonim Şirketi 286.550.106 57,3%

Trakya Yatırım Holding A.Ş. 35.014.061 7,0%

QİNVEST Portföy 28.560.617 5,7%

Other 150.092.743 30,0%

Total 500.000.000 100,0%

11

• ~25% working exclusively with Anadolu2.344 Professional Agencies

• Working exclusively with Anadolu1.355 Işbank Branches

İzmir

Ankara

Antalya

Trabzon

Adana

N. Cyprus

İstanbul (2) Samsun

Bursa

Gaziantep

12

Distribution Channels(19Q1)

Distribution Channels (19Q1)

13

Agency56%

Bank14%

Broker15%

Other15%

Production by Regions (19Q1)

Aegean

9%

Marmara 56%

Black Sea6%

East Anatolia3%

South East Anatolia

3%

Middle Anatolia

15%

Mediterranean

8%

Market Share & Rank (mn. TRY)

SOURCE: Association of Insurance Companies

15

BRANCHES 18Q1 19Q1Rank19Q1

Market Share19Q1

Growth

MOD 234 293 1 14% 25%

Fire 209 256 1 12% 23%

General Liability 52 83 1 19% 58%

Watercraft 27 32 1 34% 17%

MTPL 376 405 1 10% 8%

Aircraft 8 18 1 63% 113%

Aircraft Liability 9 12 2 35% 35%

Marine Transportation 18 27 3 10% 48%

General Losses 180 173 3 8% -4%

Health 218 258 3 10% 18%

Other 47 52 -- -- 3%

TOTAL 1.378 1.609 2 11% 17%

16

Profitability – Combined RatioCombined Ratio FY18 18Q4 19Q1

MOD 110,7% 115,9% 98,0%

MTPL 127,9% 140,0% 136,6%

Fire 105,9% 92,6% 105,6%

Health 113,3% 120,8% 132,8%

P.Accident 69,2% 65,5% 46,6%

General Liability 114,8% 28,8% 80,4%

General Losses 110,6% 117,7% 108,9%

Total 113,0% 111,4% 112,7%

80% 83% 83% 85% 90% 89%

14% 15% 15% 14%14% 14%9% 9% 9% 9%10% 10%

2014 2015 2016 2017 2018 2019Q1

Claims Ratio Net Comm. Ratio Expense Ratio

107% 107% 107%114% 113%

103%

Company & Market Potential

Company Overview

Financial Highlights

17

18

Growth Performance

(*) Financial loans netted off

1.020

1.202 1.223

1.639 1.646 1.620

2014 2015 2016 2017 2018 19Q1

Shareholders' Equity (mn TRY)

2.250

2.776

3.832

4.505

5.0505.325

2014 2015 2016 2017 2018 19Q1

Cash and Marketable Sec. (mn TRY) (*)

2.282

2.934

3.914

4.456

5.1845.420

2014 2015 2016 2017 2018 19Q1

Tech. Reserves (mn TRY)

3.773

4.677

5.840

6.929

7.8538.358

2014 2015 2016 2017 2018 19Q1

Total Assets (mn TRY) (*)

19

Financial Statements

3.773

4.888

5.974

7.032

7.904

8.504

1.0511.202 1.223

1.639 1.646 1.6201.927

2.408

3.410

4.117

4.6734.842

72 64 88 184 308125

7,6%5,9%

7,4%

13,2%

18,7% 19,7%9,9%

8,7%

10,5%

17,7%

27,4%28,2%

0,0%

10,0%

20,0%

30,0%

40,0%

50,0%

60,0%

0

1.000

2.000

3.000

4.000

5.000

6.000

7.000

8.000

9.000

2014 2015 2016 2017 2018 2019Q1

Assets Shareholder's Equity Investment Portfolio Net Profit ROAE ROAE-Consolidated

Assets 31.03.19 31.12.18 Change(%)

Cash + Marketable Sec. 5.471 5.101 7,3

Equity Participations 468 517 -9,5

Other Assets 2.565 2.286 12,2

Assets 8.504 7.904 7,6

Liabilities 31.03.19 31.12.18 Change(%)

Technical Provisions 5.421 5.184 4,6

Shareholders' Equity 1.620 1.646 -1,6

Other Liabilities 1.463 1.073 36,3

Liabilities 8.504 7.904 7,6

Balance Sheet

%7 increase in liquid assets %8 increase in total assets

20

Income Statement – 19Q1 (₺ mn)

21(*) Financial income transferred to technical division is excluded

P&L 19Q1 18Q1 18Q4Change (%)

(YoY)Change (%)

(QoQ)

Tech. Income (*) 973 844 976 15% 0%

Tech. Expenses -1.095 -906 -1.084 21% 1%

Net Financial Inc. + Other Exp. (*) 278 200 208 39% 34%

Deferred Tax 20 15 -62 33% -132%

Gross Profit 176 154 38 14% 363%

Tax -51 -45 38 13% -234%

Net Profit 125 109 76 15% 64%

Income from subsidiary 26 34 0 -24%

Net Profit - dividend income excl. 99 75 76 32% 30%

22

Core Indicators

710795

965

1.550

2.0551.950

1.0201.202 1.223

1.639 1.646 1.6200,7% 0,7%

0,8%

1,0%

1,3%1,2%

0,0%

0,2%

0,4%

0,6%

0,8%

1,0%

1,2%

1,4%

0

500

1000

1500

2000

2500

2014 2015 2016 2017 2018 19Q1

Mcap Equity P/BV

(TRY)

19Q1 2018 Change

Mcap 1.950mn 2.055mn -5,1%

Equity (Book Value) 1.620mn 1.646mn -1,5%

P / BV 1,2 1,25 -4,2%

Profitability - ROE

23

5,3

7,2

11,2

18,619,9

8,7

10,5

17,7

24,626,2

2015 2016 2017 2018 19Q1 (*)

ROE - Solo ROE - Consolidated

(*) 12 months trailing roe calculated

24

Highlights - 19Q1• Improving Financials

• Growing investment portfolio

(mn TRY) 19Q1 18Q1 18Q4Change(%)

YoYChange(%)

QoQ

Gross Profit 176 154 38 14 363

Net Profit 125 109 76 15 64

Net Profit* 99 75 76 32 30

(mn TRY) 18Q4 19Q1 Change(%)

AUM 4.674 4.842 3,6

Credit Card 452 476 5,3

Total 5.125 5.318 3,7

25

Highlights – P/E Ratio

0

2

4

6

8

10

12

14

ANSGR 31.12.18 ANSGR Current XSGRT Current EU Non Life 2018

P/E Ratio (x)

P/E Ratio (x)

26

Investment Portfolio

26

Bonds17%

Funds6%

Stock2%

Deposits*74%

Other1%

TRY 4,84 bn

TRY 4,67 bn at 31.12.2018

*146 mn TRY loan netted off

In 19Q1;

Dividend from ANHYT 26 mn TRY

Investment Income * 264 mn TRY

Average Portfolio Income ~ 23%

* ANHYT dividend excluded. %53

YoY increase in Investment

Income

This presentation contains forward-looking statements and information on the business development of AnadoluSigorta. These statements may be spoken or written and can be recognized by terms such as “expects”,“anticipates”, “intends”, “plans”, “seeks” or words with similar meaning. These statements are based onassumptions relating to the development of the economies of individual countries, and in particular of theinsurance industry, which we have made on the basis of the information available to us and which we consider tobe realistic at the time of going to press. The estimates given involve a degree of risk, and the actual developmentsmay differ from those forecasts.

Anadolu Sigorta does not accept any liability whatsoever for any direct or consequential loss arising from any use ofthis document or its content due to misleading information in this document.

For further information please

e-mail to: investor.relations@anadolusigorta.com.tr

or call Anadolu Sigorta Investor Relations on

(+90 850 744 02 54),(+90 850 744 03 59)

27

Disclaimer Statement