Consolidated cash flow statement 2012
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| in EUR thousand | 1.1. – 31.12.2012 | 1.1. – 31.12.2011 | |
|---|---|---|---|
| 1 Thereof cash and cash equivalents of EUR 27,474 thousand of the companies of Clarendon Insurance Group, Inc., Wilmington, recognised as a disposal group 2 In the year under review the supplementary information on the cash flow statement was expanded to include dividend receipts as well as a breakdown of interest received and paid. The figures for the previous year were recalculated in this context. The income taxes as well as dividend receipts and interest received are included entirely in the cash flow from operating activities. The interest paid is attributable in an amount of EUR 107,543 thousand (EUR 107,964 thousand) to the cash flow from financing activities and in an amount of EUR 26,357 thousand (EUR 24,519 thousand) to the cash flow from operating activities. 3 Including dividend-like profit participations from investment funds |
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| I. | Cash flow from operating activities | ||
| Net income | 933,723 | 676,788 | |
| Appreciation/depreciation | 51,861 | 8,125 | |
| Net realised gains and losses on investments | (227,508) | (179,560) | |
| Net unrealised gains and losses on investments | (89,268) | 38,795 | |
| Amortisation of investments | 75,002 | 52,488 | |
| Changes in funds withheld | (1,632,756) | ||
| Net changes in contract deposits | 787,965 | 828,891 | |
| Changes in prepaid reinsurance premium (net) | 87,280 | 274,857 | |
| Changes in tax assets/provisions for taxes | 161,154 | (88,173) | |
| Changes in benefit reserve (net) | 485,498 | 1,119,973 | |
| Changes in claims reserves (net) | 960,198 | 1,782,089 | |
| Changes in deferred acquisition costs | 79,805 | (75,477) | |
| Changes in other technical provisions | 15,385 | 17,384 | |
| Changes in clearing balances | 436,653 | (268,688) | |
| Changes in other assets and liabilities (net) | 63,681 | (31,874) | |
| Cash flow from operating activities | 2,637,162 | 2,522,862 | |
| II. | Cash flow from investing activities | ||
| Fixed-income securities – held to maturity | |||
| Maturities | 508,246 | 305,222 | |
| Purchases | – | (57,819) | |
| Fixed-income securities – loans and receivables | |||
| Maturities, sales | 335,939 | 595,645 | |
| Purchases | (229,982) | (1,751,879) | |
| Fixed-income securities – available for sale | |||
| Maturities, sales | 9,082,887 | 8,306,715 | |
| Purchases | (12,815,691) | (10,465,318) | |
| Fixed-income securities – at fair value through profit or loss | |||
| Maturities, sales | 45,226 | 78,924 | |
| Purchases | (20,982) | (35,793) | |
| Equity securities – available for sale | |||
| Sales | 17,220 | 730,689 | |
| Purchases | (1,996) | (281,014) | |
| Other financial assets – at fair value through profit or loss | |||
| Sales | 2,071 | 468 | |
| Other invested assets | |||
| Sales | 180,259 | 95,050 | |
| Purchases | (188,416) | (162,155) | |
| Affiliated companies and participating interests | |||
| Sales | 79 | 140,765 | |
| Purchases | (5,883) | (20,856) | |
| Real estate and real estate funds | |||
| Sales | 232,894 | 37,868 | |
| Purchases | (315,107) | (148,431) | |
| Short-term investments | |||
| Changes | 499,466 | 608,113 | |
| Other changes (net) | (39,097) | (17,447) | |
| Cash flow from investing activities | (2,712,867) | (2,041,253) | |
| III. | Cash flow from financing activities | ||
| Contribution from capital measures | 15,633 | 30 | |
| Payment on capital measures | (8,307) | (4,110) | |
| Acquisition/disposal of treasury shares | (363) | (380) | |
| Structural change without loss of control | 66 | 194 | |
| Dividends paid | (321,994) | (315,844) | |
| Proceeds from long-term debts | 588,575 | 31,056 | |
| Repayment of long-term debts | (125,243) | (160,812) | |
| Cash flow from financing activities | 148,367 | (449,866) | |
| IV. | Exchange rate differences on cash | (7,437) | (7) |
| Cash and cash equivalents at the beginning of the period | 506,963 | 475,2271 | |
| Change in cash and cash equivalents (I. + II. + III. + IV.) | 65,225 | 31,736 | |
| Cash and cash equivalents at the end of the period | 572,188 | 506,963 | |
| Supplementary information on the cash flow statement2 | |||
| Income taxes | (226,263) | (97,503) | |
| Dividend receipts3 | 84,196 | 35,901 | |
| Interest received | 1,395,741 | 1,191,214 | |
| Interest paid | (133,900) | (132,483) | |