{"id":2213,"date":"2026-04-29T00:33:16","date_gmt":"2026-04-28T21:33:16","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=2213"},"modified":"2026-04-29T00:34:03","modified_gmt":"2026-04-28T21:34:03","slug":"anhyt-2026-03-bilano-analizi-anadolu-hayat-emeklilik","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/2213","title":{"rendered":"\ud83d\udd34 ANHYT 2026-03 Bilan\u00e7o Analizi | Anadolu Hayat Emeklilik"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34 ANHYT 2026-03 Bilan\u00e7o Analizi | Anadolu Hayat Emeklilik\" width=\"858\" height=\"644\" src=\"https:\/\/www.youtube.com\/embed\/G8P1OfBsCho?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h1>Anadolu Hayat Emeklilik 31 Mart 2026 Konsolide Finansal Raporu Brifing Belgesi<\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu belge, Anadolu Hayat Emeklilik Anonim \u015eirketi\u2019nin (\u015eirket) 31 Mart 2026 tarihi itibar\u0131yla sona eren \u00fc\u00e7 ayl\u0131k ara hesap d\u00f6nemine ait konsolide finansal durumunu ve faaliyet sonu\u00e7lar\u0131n\u0131 analiz etmektedir. \u015eirket, 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde operasyonel b\u00fcy\u00fcmesini s\u00fcrd\u00fcrm\u00fc\u015f ve net k\u00e2rl\u0131l\u0131\u011f\u0131n\u0131 bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re art\u0131rm\u0131\u015ft\u0131r.<\/p>\n<p><b>Kritik Veriler:<\/b><\/p>\n<ul>\n<li><b>D\u00f6nem Net K\u00e2r\u0131:<\/b> 1.612.390.899 TL (31 Mart 2025: 1.107.119.243 TL)<\/li>\n<li><b>Toplam Varl\u0131klar:<\/b> 467.843.293.746 TL (31 Aral\u0131k 2025: 443.673.308.407 TL)<\/li>\n<li><b>Toplam \u00d6zsermaye:<\/b> 11.342.832.137 TL (31 Aral\u0131k 2025: 13.657.246.469 TL)<\/li>\n<li><b>\u00d6denen Temett\u00fc:<\/b> 3.622.356.873 TL<\/li>\n<\/ul>\n<p>\u015eirket, hayat sigortac\u0131l\u0131\u011f\u0131 ve bireysel emeklilik (BES) bran\u015flar\u0131nda g\u00fc\u00e7l\u00fc performans sergilerken, toplam varl\u0131k b\u00fcy\u00fckl\u00fc\u011f\u00fcn\u00fc %5,4 oran\u0131nda art\u0131rm\u0131\u015ft\u0131r. \u00d6zsermayedeki d\u00fc\u015f\u00fc\u015f, d\u00f6nem i\u00e7inde ger\u00e7ekle\u015ftirilen y\u00fcksek tutarl\u0131 temett\u00fc \u00f6demesinden kaynaklanmaktad\u0131r.<\/p>\n<h2>1. Kurumsal Yap\u0131 ve Faaliyet Konusu<\/h2>\n<p>Anadolu Hayat Emeklilik, T\u00fcrkiye \u0130\u015f Bankas\u0131 Grubu\u2019nun bir par\u00e7as\u0131 olarak faaliyetlerini s\u00fcrd\u00fcrmektedir.<\/p>\n<h3>Ortakl\u0131k Yap\u0131s\u0131<\/h3>\n<p>31 Mart 2026 tarihi itibar\u0131yla \u015eirket&#8217;in sermaye yap\u0131s\u0131 \u015fu \u015fekildedir:<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ortak Ad\u0131<\/td>\n<td>Pay Tutar\u0131 (TL)<\/td>\n<td>Pay Oran\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>T\u00fcrkiye \u0130\u015f Bankas\u0131 A.\u015e.<\/td>\n<td>274.843.626<\/td>\n<td>63,92<\/td>\n<\/tr>\n<tr>\n<td>Anadolu Anonim T\u00fcrk Sigorta \u015eirketi<\/td>\n<td>86.000.000<\/td>\n<td>20,00<\/td>\n<\/tr>\n<tr>\n<td>Milli Reas\u00fcrans T.A.\u015e.<\/td>\n<td>4.299.999<\/td>\n<td>1,00<\/td>\n<\/tr>\n<tr>\n<td>Halka A\u00e7\u0131k K\u0131s\u0131m<\/td>\n<td>64.856.375<\/td>\n<td>15,08<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam \u00d6denmi\u015f Sermaye<\/b><\/td>\n<td><b>430.000.000<\/b><\/td>\n<td><b>100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><i>Not: T\u00fcrkiye \u0130\u015f Bankas\u0131 A.\u015e.&#8217;nin halka a\u00e7\u0131k paylar \u00fczerindeki iktisaplar\u0131yla birlikte toplam do\u011frudan\/dolayl\u0131 hakimiyeti %84,92&#8217;dir.<\/i><\/p>\n<h3>Faaliyet Alanlar\u0131<\/h3>\n<p>\u015eirket; ferdi ve grup bireysel emeklilik, hayat sigortalar\u0131, ferdi kaza sigortalar\u0131 ve bu bran\u015flarla ilgili reas\u00fcrans i\u015flemleri y\u00fcr\u00fctmektedir. 31 Mart 2026 itibar\u0131yla kat\u0131l\u0131mc\u0131lara sunulan 42 adet Bireysel Emeklilik Yat\u0131r\u0131m Fonu bulunmaktad\u0131r.<\/p>\n<h2>2. Finansal Durum Analizi<\/h2>\n<h3>Varl\u0131k Yap\u0131s\u0131<\/h3>\n<p>\u015eirket&#8217;in varl\u0131klar\u0131 temel olarak emeklilik faaliyetlerinden alacaklar ve finansal yat\u0131r\u0131mlardan olu\u015fmaktad\u0131r.<\/p>\n<ul>\n<li><b>Cari Varl\u0131klar:<\/b> 66.443.780.110 TL tutar\u0131ndad\u0131r. Bu kalem i\u00e7erisinde nakit ve nakit benzerleri 6,8 milyar TL, finansal varl\u0131klar ise 50,6 milyar TL seviyesindedir.<\/li>\n<li><b>Cari Olmayan Varl\u0131klar:<\/b> 401.399.513.636 TL ile toplam varl\u0131klar\u0131n b\u00fcy\u00fck \u00e7o\u011funlu\u011funu olu\u015fturmaktad\u0131r. Bunun 399,1 milyar TL&#8217;si emeklilik faaliyetlerinden alacaklar kalemine aittir.<\/li>\n<\/ul>\n<h3>Y\u00fck\u00fcml\u00fcl\u00fckler ve \u00d6zsermaye<\/h3>\n<ul>\n<li><b>Emeklilik Faaliyetlerinden Bor\u00e7lar:<\/b> Uzun vadeli y\u00fck\u00fcml\u00fcl\u00fckler alt\u0131nda 399,1 milyar TL olarak kaydedilmi\u015ftir.<\/li>\n<li><b>Teknik Kar\u015f\u0131l\u0131klar:<\/b> K\u0131sa vadeli sigortac\u0131l\u0131k teknik kar\u015f\u0131l\u0131klar\u0131 48,6 milyar TL&#8217;dir. Bu tutar\u0131n 44,8 milyar TL&#8217;sini net matematik kar\u015f\u0131l\u0131klar olu\u015fturmaktad\u0131r.<\/li>\n<li><b>\u00d6zsermaye Kalemleri:<\/b> K\u00e2r yedekleri 8,3 milyar TL seviyesinde olup, ge\u00e7mi\u015f y\u0131llar k\u00e2rlar\u0131 806 milyon TL&#8217;dir.<\/li>\n<\/ul>\n<h2>3. Teknik B\u00f6l\u00fcm ve Faaliyet Performans\u0131<\/h2>\n<p>\u015eirket&#8217;in teknik gelirleri \u00fc\u00e7 ana bran\u015f alt\u0131nda toplanmaktad\u0131r:<\/p>\n<h3>Hayat D\u0131\u015f\u0131 (Ferdi Kaza)<\/h3>\n<ul>\n<li><b>Teknik Dengesi:<\/b> 1.516.731 TL zarar.<\/li>\n<li><b>Hasar Prim Oran\u0131:<\/b> %27 (31 Aral\u0131k 2025: %53). Bran\u015f\u0131n genel portf\u00f6y i\u00e7indeki pay\u0131 d\u00fc\u015f\u00fckt\u00fcr.<\/li>\n<\/ul>\n<h3>Hayat Bran\u015f\u0131<\/h3>\n<ul>\n<li><b>Teknik Dengesi:<\/b> 827.275.408 TL k\u00e2r.<\/li>\n<li><b>Br\u00fct Yaz\u0131lan Primler:<\/b> 5.676.115.237 TL.<\/li>\n<li><b>Hasar Prim Oran\u0131:<\/b> %9 (Birikim unsuru hari\u00e7). Hasar oran\u0131n\u0131n d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc k\u00e2rl\u0131l\u0131\u011f\u0131 destekleyen temel unsurdur.<\/li>\n<\/ul>\n<h3>Emeklilik Bran\u015f\u0131<\/h3>\n<ul>\n<li><b>Teknik Dengesi:<\/b> 185.016.770 TL k\u00e2r.<\/li>\n<li><b>Fon \u0130\u015fletim Gelirleri:<\/b> 1.215.902.175 TL.<\/li>\n<li><b>Y\u00f6netim Gideri Kesintisi:<\/b> 555.253.975 TL.<\/li>\n<\/ul>\n<h2>4. Yat\u0131r\u0131m Faaliyetleri ve Teknik Olmayan B\u00f6l\u00fcm<\/h2>\n<p>\u015eirket, teknik b\u00f6l\u00fcmlerden gelen k\u00e2rlar\u0131n yan\u0131 s\u0131ra g\u00fc\u00e7l\u00fc yat\u0131r\u0131m geliri elde etmi\u015ftir:<\/p>\n<ul>\n<li><b>Yat\u0131r\u0131m Gelirleri:<\/b> Toplam 1.459.724.461 TL (\u00d6nceki d\u00f6nem: 530 milyon TL).<\/li>\n<li><b>Finansal Yat\u0131r\u0131mlardan Elde Edilen Gelirler:<\/b> 548,5 milyon TL.<\/li>\n<li><b>\u0130\u015ftiraklerden Gelirler:<\/b> \u0130\u015f Portf\u00f6y Y\u00f6netimi A.\u015e. yat\u0131r\u0131m\u0131ndan 151,6 milyon TL gelir sa\u011flanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Kambiyo K\u00e2rlar\u0131:<\/b> 44,2 milyon TL net kur de\u011fi\u015fim geliri kaydedilmi\u015ftir.<\/li>\n<\/ul>\n<h2>5. Risk Y\u00f6netimi ve Teknik Kar\u015f\u0131l\u0131klar<\/h2>\n<h3>Sigorta Riski<\/h3>\n<p>\u015eirket, maruz kald\u0131\u011f\u0131 sigorta risklerini reas\u00fcrans anla\u015fmalar\u0131 ile y\u00f6netmektedir:<\/p>\n<ul>\n<li><b>Ecelen Vefat:<\/b> Riskin %44&#8217;\u00fc reas\u00fcr\u00f6rlere devredilmi\u015ftir.<\/li>\n<li><b>Kazaen Vefat:<\/b> Riskin %63&#8217;\u00fc reas\u00fcr\u00f6rlere devredilmi\u015ftir.<\/li>\n<\/ul>\n<h3>Kar\u015f\u0131l\u0131klar<\/h3>\n<ul>\n<li><b>Muallak Tazminat Kar\u015f\u0131l\u0131\u011f\u0131:<\/b> Hayat bran\u015f\u0131 i\u00e7in net 178,2 milyon TL IBNR (ger\u00e7ekle\u015fmi\u015f ancak raporlanmam\u0131\u015f hasar) kar\u015f\u0131l\u0131\u011f\u0131 ayr\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Dengeleme Kar\u015f\u0131l\u0131\u011f\u0131:<\/b> Katastrofik risklere kar\u015f\u0131 294,6 milyon TL tutar\u0131nda uzun vadeli kar\u015f\u0131l\u0131k ayr\u0131lm\u0131\u015ft\u0131r.<\/li>\n<li><b>Matematik Kar\u015f\u0131l\u0131klar:<\/b> \u0130htiyatl\u0131l\u0131k ilkesi gere\u011fi, kullan\u0131lan mortalite tablolar\u0131 \u015eirket&#8217;in fiili vefat deneyiminden (vefat oran\u0131 %65,69) daha y\u00fcksek risk \u00f6ng\u00f6rmektedir.<\/li>\n<\/ul>\n<h2>6. \u00d6nemli Muhasebe Politikalar\u0131 ve Mevzuat Notlar\u0131<\/h2>\n<ul>\n<li><b>Vergi Oran\u0131:<\/b> Sigorta ve emeklilik \u015firketleri i\u00e7in kurumlar vergisi oran\u0131 <b>%30<\/b> olarak uygulanmaktad\u0131r.<\/li>\n<li><b>Enflasyon Muhasebesi (TMS 29):<\/b> SEDDK genelgeleri uyar\u0131nca, 2025 ve 2026 y\u0131llar\u0131nda sigorta ve emeklilik \u015firketleri i\u00e7in enflasyon muhasebesi uygulanmamas\u0131na karar verilmi\u015ftir.<\/li>\n<li><b>TFRS 17 Ge\u00e7i\u015fi:<\/b> &#8220;Sigorta S\u00f6zle\u015fmeleri&#8221; standard\u0131n\u0131n uygulama tarihi 1 Ocak 2027&#8217;ye ertelenmi\u015ftir.<\/li>\n<li><b>Sermaye Tavan\u0131:<\/b> \u015eirket&#8217;in kay\u0131tl\u0131 sermaye tavan\u0131n\u0131n 900 milyon TL&#8217;den 5 milyar TL&#8217;ye y\u00fckseltilmesine ili\u015fkin esas s\u00f6zle\u015fme de\u011fi\u015fikli\u011fi 17 Nisan 2026&#8217;da ilan edilmi\u015ftir.<\/li>\n<\/ul>\n<h2>7. \u00d6nemli Dipnotlar ve A\u00e7\u0131klamalar<\/h2>\n<p>&#8220;\u00dcst d\u00fczey y\u00f6neticilere cari d\u00f6nemde sa\u011flanan \u00fccret ve benzeri menfaatlerin toplam tutar\u0131 30.106.794 TL\u2019dir.&#8221; (Dipnot 1.6)<\/p>\n<p>&#8220;\u015eirket, kullan\u0131m ama\u00e7l\u0131 gayrimenkullerinin ilk kay\u0131tlara al\u0131nmalar\u0131 sonras\u0131 \u00f6l\u00e7\u00fcmlerine ili\u015fkin muhasebe politikalar\u0131nda de\u011fi\u015fiklik yaparak&#8230; &#8216;yeniden de\u011ferleme y\u00f6ntemine&#8217; ge\u00e7mi\u015ftir.&#8221; (Dipnot 2.5)<\/p>\n<p>&#8220;31 Mart 2026 tarihi itibar\u0131yla \u015eirket&#8217;in hayat sigortalar\u0131&#8230; hasar prim oran\u0131 %9 seviyesindedir. Hasar prim oranlar\u0131n\u0131n d\u00fc\u015f\u00fck olmas\u0131, \u015eirket\u2019in \u00f6nemli kazan\u00e7 sa\u011flad\u0131\u011f\u0131n\u0131n bir g\u00f6stergesi olarak de\u011ferlendirilmektedir.&#8221; (Dipnot 4.1)<\/p>\n<button class=\"simplefavorite-button\" data-postid=\"2213\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Anadolu Hayat Emeklilik 2026 \u0130lk \u00c7eyrek Bilan\u00e7osu: B\u00fcy\u00fcme ve Temett\u00fc Verimlili\u011fi Bir Arada!<br \/>\nAnadolu Hayat Emeklilik, 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde yat\u0131r\u0131mc\u0131lar\u0131n\u0131 memnun eden finansal sonu\u00e7lar a\u00e7\u0131klad\u0131. \u015eirket, 1,6 milyar TL&#8217;yi a\u015fan net k\u00e2r\u0131 ve 467,8 milyar TL&#8217;ye ula\u015fan devasa varl\u0131k yap\u0131s\u0131yla sekt\u00f6rdeki \u00f6nc\u00fc konumunu peki\u015ftirmeye devam ediyor<br \/>\n. \u00d6zellikle bireysel emeklilik fonlar\u0131ndaki 399 milyar TL baraj\u0131na yakla\u015fan b\u00fcy\u00fckl\u00fck, \u015firketin y\u00f6netti\u011fi tasarruflar\u0131n g\u00fcvenle b\u00fcy\u00fcd\u00fc\u011f\u00fcn\u00fc kan\u0131tl\u0131yor<br \/>\n. Hissedarlar\u0131na da\u011f\u0131tt\u0131\u011f\u0131 3,5 milyar TL&#8217;lik br\u00fct k\u00e2r pay\u0131 ile temett\u00fc verimlili\u011finde \u00e7\u0131tay\u0131 y\u00fcksek tutan Anadolu Hayat Emeklilik, ayn\u0131 zamanda sermaye tavan\u0131n\u0131 5 milyar TL&#8217;ye \u00e7\u0131kararak gelecek d\u00f6nemdeki b\u00fcy\u00fcme hedeflerinin de sinyalini verdi<br \/>\n. Hayat sigortas\u0131 bran\u015f\u0131ndaki teknik k\u00e2rl\u0131l\u0131k ve BES fonlar\u0131ndaki kat\u0131l\u0131mc\u0131 ilgisi, \u015firketin 2026 y\u0131l\u0131n\u0131n geri kalan\u0131 i\u00e7in de g\u00fc\u00e7l\u00fc bir projeksiyon \u00e7izmesini sa\u011fl\u0131yor<br \/>\n.<\/p>\n","protected":false},"author":6,"featured_media":1725,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[189],"class_list":["post-2213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-anhyt"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=2213"}],"version-history":[{"count":1,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2213\/revisions"}],"predecessor-version":[{"id":2214,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/2213\/revisions\/2214"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/1725"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=2213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=2213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=2213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}