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Consolidated cash flow statement 2013

Consolidated cash flow statement 2013

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in EUR thousand 1.1. – 31.12.2013 1.1. - 31.12.20121
I. Cash flow from operating activities
Net income 939,249 924,989
Appreciation/depreciation 30,622 51,861
Net realised gains and losses on investments (144,151) (227,508)
Change in fair value of financial instruments 27,136 (89,268)
Realised gains and losses on deconsolidation (6,661)
Income from the recognition of negative goodwill (173)
Amortisation of investments 98,146 75,002
Changes in funds withheld (70,492) (1,184,267)
Net changes in contract deposits (78,143) 787,965
Changes in prepaid reinsurance premium (net) 193,824 87,280
Changes in tax assets/provisions for taxes (89,114) 157,329
Changes in benefit reserve (net) 75,705 485,498
Changes in claims reserves (net) 1,118,155 972,780
Changes in deferred acquisition costs 67,431 79,805
Changes in other technical provisions 70,075 15,385
Changes in clearing balances (106,432) 436,653
Changes in other assets and liabilities (net) 100,319 63,658
Cash flow from operating activities 2,225,496 2,637,162
in EUR thousand 1.1. – 31.12.2013 1.1. - 31.12.20121
I. Cash flow from operating activities
Net income 939,249 924,989
Appreciation/depreciation 30,622 51,861
Net realised gains and losses on investments (144,151) (227,508)
Change in fair value of financial instruments 27,136 (89,268)
Realised gains and losses on deconsolidation (6,661)
Income from the recognition of negative goodwill (173)
Amortisation of investments 98,146 75,002
Changes in funds withheld (70,492) (1,184,267)
Net changes in contract deposits (78,143) 787,965
Changes in prepaid reinsurance premium (net) 193,824 87,280
Changes in tax assets/provisions for taxes (89,114) 157,329
Changes in benefit reserve (net) 75,705 485,498
Changes in claims reserves (net) 1,118,155 972,780
Changes in deferred acquisition costs 67,431 79,805
Changes in other technical provisions 70,075 15,385
Changes in clearing balances (106,432) 436,653
Changes in other assets and liabilities (net) 100,319 63,658
Cash flow from operating activities 2,225,496 2,637,162

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in EUR thousand 1.1. – 31.12.2013 1.1. - 31.12.2012
II. Cash flow from investing activities
Fixed-income securities – held to maturity
Maturities 912,993 508,246
Purchases (46,980)
Fixed-income securities – loans and receivables
Maturities, sales 462,581 335,939
Purchases (283,585) (229,982)
Fixed-income securities – available for sale
Maturities, sales 8,220,723 9,082,887
Purchases (10,519,496) (12,815,691)
Fixed-income securities – at fair value through profit or loss
Maturities, sales 79,646 45,226
Purchases (12,074) (20,982)
Equity securities – available for sale
Maturities 15,432 17,220
Sales (12,302) (1,996)
Other financial assets – at fair value through profit or loss
Maturities 4,481 2,071
Sales (92)
Other invested assets
Maturities 131,650 180,259
Sales (172,207) (188,416)
Affiliated companies and participating interests
Maturities 22,514 79
Sales (3,105) (5,883)
Real estate and real estate funds
Maturities 55,963 232,894
Sales (508,308) (315,107)
Short-term investments
Changes (74,218) 499,466
Other changes (net) (35,134) (39,097)
Cash flow from investing activities (1,761,518) (2,712,867)
     
III. Cash flow from financing activities
Contribution from capital measures 1,920 15,633
Payment on capital measures (6,096) (8,307)
Structural change without loss of control 77 66
Dividends paid (410,284) (321,994)
Proceeds from long-term debts 77,405 588,575
Repayment of long-term debts (10,705) (125,243)
Acquisition/disposal of treasury shares 5 (363)
Cash flow from financing activities (347,678) 148,367
 
IV. Exchange rate differences on cash (41,719) (7,437)
 
Cash and cash equivalents at the beginning of the period 572,188 506,963
Change in cash and cash equivalents (I. + II. + III. + IV.) 74,581 65,225
Changes in the consolidated group (3,833)
Cash and cash equivalents at the end of the period 642,936 572,188
 
Supplementary information on the cash flow statement1
Income taxes paid (on balance) (278,326) (235,783)
Dividend receipts2 60,673 70,748
Interest received 1,457,912 1,399,204
Interest paid (168,701) (168,235)
in EUR thousand 1.1. – 31.12.2013 1.1. - 31.12.2012
II. Cash flow from investing activities
Fixed-income securities – held to maturity
Maturities 912,993 508,246
Purchases (46,980)
Fixed-income securities – loans and receivables
Maturities, sales 462,581 335,939
Purchases (283,585) (229,982)
Fixed-income securities – available for sale
Maturities, sales 8,220,723 9,082,887
Purchases (10,519,496) (12,815,691)
Fixed-income securities – at fair value through profit or loss
Maturities, sales 79,646 45,226
Purchases (12,074) (20,982)
Equity securities – available for sale
Maturities 15,432 17,220
Sales (12,302) (1,996)
Other financial assets – at fair value through profit or loss
Maturities 4,481 2,071
Sales (92)
Other invested assets
Maturities 131,650 180,259
Sales (172,207) (188,416)
Affiliated companies and participating interests
Maturities 22,514 79
Sales (3,105) (5,883)
Real estate and real estate funds
Maturities 55,963 232,894
Sales (508,308) (315,107)
Short-term investments
Changes (74,218) 499,466
Other changes (net) (35,134) (39,097)
Cash flow from investing activities (1,761,518) (2,712,867)
     
III. Cash flow from financing activities
Contribution from capital measures 1,920 15,633
Payment on capital measures (6,096) (8,307)
Structural change without loss of control 77 66
Dividends paid (410,284) (321,994)
Proceeds from long-term debts 77,405 588,575
Repayment of long-term debts (10,705) (125,243)
Acquisition/disposal of treasury shares 5 (363)
Cash flow from financing activities (347,678) 148,367
 
IV. Exchange rate differences on cash (41,719) (7,437)
 
Cash and cash equivalents at the beginning of the period 572,188 506,963
Change in cash and cash equivalents (I. + II. + III. + IV.) 74,581 65,225
Changes in the consolidated group (3,833)
Cash and cash equivalents at the end of the period 642,936 572,188
 
Supplementary information on the cash flow statement1
Income taxes paid (on balance) (278,326) (235,783)
Dividend receipts2 60,673 70,748
Interest received 1,457,912 1,399,204
Interest paid (168,701) (168,235)

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