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ANADOLU HAYAT EMEKLİLİK A.Ş. COMPANY PRESENTATION. November 2010. Disclaimer.

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disclaimer

Disclaimer

The information in thisdocument has beenobtainedby Anadolu Hayat Emeklilik A.Ş. fromsourcesbelievedto be reliable, however, Anadolu Hayat Emeklilik A.Ş. can not guaranteetheaccuracy, completenessorcorrectness of such information. Thisdocument has beenissuedfor information purposesonly. The financialreportsandstatementsannouncedby Anadolu Hayat Emeklilik A.Ş. tothepublicandrelevantcorporationsareacceptedto be thesolematerial. Anadolu Hayat Emeklilik A.Ş. does not acceptanyliabilitywhatsoeverforanydirectorconsequentiallossarisingfromanyuse of thisdocumentoritscontentsduetothemisleading information in thisdocument. Allestimationscontained in thisdocumentareopinions of Anadolu Hayat Emeklilik A.Ş. and can be subjecttochangewithoutnotice. Thisdocument can not be interpreted as an advicetotheinvestorsand Anadolu Hayat Emeklilik A.Ş. can not be heldresponsiblefortheresults of investmentdecisionsmade on account of thisdocument. Thisdocument has beenissuedspeciallytotheperson, whomthedocument is concernedandmay not be reproduced,distributedorsharedwiththirdpartiesforanypurpose.

contents

Corporate Profile

Contents

Lines of Business - Life & Pensions

Financials

Stock Data

corporate profile

Corporate Profile

  • Established in 1990 as a subsidiary of TürkiyeİşBankası
  • First life insurancecompany in Turkey
  • The only Life & Pension company publicly traded (since 2000)
  • Has been operating in pension business since 27.10.2003
  • Market leader in life insurance sector since establishment
growth strategy

Distribution Channel Strategy

    • Focus on Bancassurance
    • Expanding Direct Sales Team
    • Improve agency profile
  • Improve Customer Service Quality
  • Improve HR quality
  • Focus on Corporate Pension Business

Growth Strategy

slide10

Corporate Profile

Lines of Business - Life & Pensions

Financials

Stock Data

lines of business

PrivatePension

Life Insurance

Lines of Business

  • Individual
  • Corporate
  • Endowment
  • Term Life
  • Annuities
  • Unemployment
  • CriticalIllness
private pension system in turkey basic features

Started on 27.10.2003

  • 13 Licensed pensioncompanies
  • Third pillarsystem
  • Defined contribution
  • Voluntary participation
  • Tax incentives for both participant & employer
  • Fully funded system
  • Minimum 10 years of contributionpayment
  • Minimum retirement age is 56
  • Funds are managed by asset management companies
  • Separate pension accounts for each participant
  • Participants have the right to;
    • Switch funds or pension plan
    • Transfer accounts between pension companies once a year
    • Mergetheirseparatepensionaccounts
    • Cease contribution payments
    • Leave anytime

PRIVATE PENSION SYSTEM IN TURKEY BasicFeatures

private pension system in turkey tax incentives

Contribution Stage

    • Contributions are tax deductible up to %10 of income with a cap of annual minimum wage.
    • Employer contributions are also tax deductible subject to the same limits
  • Investment Stage
    • Investment income of pension funds are tax exempt
    • No stamp tax in setting up pension funds
    • No tax on transactions in pension system
  • Benefit payments
    • %25 of retirement payments are exempt from income tax
    • Residual is subject to a witholding tax of 5 %
    • Early surrenders are subject to 15% or 10%(in case of completion of 10 yrs within the system) witholding tax with no exemption

PRIVATE PENSION SYSTEM IN TURKEY TaxIncentives

slide14

PrivatePension System InTurkey

TREASURY

PENSION MONITORING CENTRE

MONEY AND

CAPITAL

MARKETS

ASSET

MANAGEMENT **

Reporting of

Pension Accounts

PARTICIPANT

&

SPONSOR

PENSION

ACCOUNT

ADMINISTRATION

*

FUND

ADMINISTRATION

***

Reporting of

Funds

Reporting of

Pension Accounts

CUSTODIAN BANK

CAPITAL MARKETS BOARD

  • * Anadolu Hayat Emeklilik
  • ** İş AssetManagement, HSBC AssetManagement, TEB AssetManagement
  • *** Isbank
slide15

Distribution Network

Bancassurance

1138 branches

335 branches

334 branches

86 branches

3 branches

109 branches

3 branches

Direct Sales

  • 300 Licensed Salesperson
  • 276 Exclusive Agencies
  • 49 Brokers

Agents & Brokers

Other

  • Internet
  • Call Centre
key drivers for growth in pension business

EconomicImprovements in Turkey

    • Structuralreforms
    • Extendedmaturities
    • Purchasingpower
    • Lack of confidence in thesocialsecuritysystem
  • Advantages of Pension System
    • Taxincentives
    • Transparentsystem
    • Participatingtotheinvestmentprocess

KeyDriversFor Growth InPensionBusiness

key drivers for our market leadership

Distribution network

  • Diversifiedproducts
  • Fund performance
  • Chargingstructure
  • Service quality

KeyDriversForOur Market Leadership

private pension system sectoral expectations

PrivatePension System SectoralExpectations

Source: PensionMonitoringCenter

pension products fund menu

Conservative

Balanced

Aggressive

  • Intnl. Mixed Fund
  • Eurobond $ Fund
  • Eurobond € Fund
  • Balanced Fund

PensionProductsFund Menu

  • Cash Fund
  • Conservative Fund
  • Bond Fund
  • Equity Fund
  • Aggressive Fund

31 %

18 %

51 %

slide36

Corporate Profile

Lines of Business - Life & Pensions

Financials

Stock Data

slide45

Corporate Profile

Lines of Business - Life & Pensions

Financials

Stock Data