Consolidated cash flow statement 2014
| in EUR thousand | 1.1. – 31.12.2014 | 1.1. – 31.12.2013 |
|---|---|---|
| I. Cash flow from operating activities | ||
| Net income | 1,065,107 | 939,249 |
| Appreciation / depreciation | 58,384 | 30,622 |
| Net realised gains and losses on investments | (182,453) | (144,151) |
| Change in fair value of financial instruments (through profit or loss) | 33,257 | 27,136 |
| Realised gains and losses on deconsolidation | (2,602) | (6,661) |
| Income from the recognition of negative goodwill | – | (173) |
| Amortisation of investments | 83,382 | 98,146 |
| Changes in funds withheld | (482,106) | (70,492) |
| Net changes in contract deposits | 119,362 | (78,143) |
| Changes in prepaid reinsurance premium (net) | 157,349 | 193,824 |
| Changes in tax assets / provisions for taxes | 182,543 | (89,114) |
| Changes in benefit reserve (net) | 57,841 | 75,705 |
| Changes in claims reserves (net) | 1,106,308 | 1,118,155 |
| Changes in deferred acquisition costs | (121,881) | 67,431 |
| Changes in other technical provisions | 38,995 | 70,075 |
| Changes in clearing balances | 73,975 | (106,432) |
| Changes in other assets and liabilities (net) | (256,569) | 100,319 |
| Cash flow from operating activities | 1,930,892 | 2,225,496 |
| II. Cash flow from investing activities | ||
| Fixed-income securities – held to maturity | ||
| Maturities | 618,208 | 912,993 |
| Purchases | (1,395) | (46,980) |
| Fixed-income securities – loans and receivables | ||
| Maturities, sales | 427,121 | 462,581 |
| Purchases | (100,302) | (283,585) |
| Fixed-income securities – available for sale | ||
| Maturities, sales | 11,304,019 | 8,220,723 |
| Purchases | (13,167,728) | (10,519,496) |
| Fixed-income securities – at fair value through profit or loss | ||
| Maturities, sales | 9,649 | 79,646 |
| Purchases | (34,622) | (12,074) |
| Equity securities – available for sale | ||
| Sales | 10,932 | 15,432 |
| Purchases | (9,793) | (12,302) |
| Other financial assets – at fair value through profit or loss | ||
| Sales | 59,706 | 4,481 |
| Purchases | (19,148) | (92) |
| Other invested assets | ||
| Sales | 142,588 | 131,650 |
| Purchases | (259,511) | (172,207) |
| Affiliated companies and participating interests | ||
| Sales | 24,688 | 22,514 |
| Purchases | (45,408) | (3,105) |
| Real estate and real estate funds | ||
| Sales | 102,472 | 55,963 |
| Purchases | (230,502) | (508,308) |
| Short-term investments | ||
| Changes | 11,735 | (74,218) |
| Other changes (net) | (38,050) | (35,134) |
| Cash flow from investing activities | (1,195,341) | (1,761,518) |
| III. Cash flow from financing activities | ||
| Contribution from capital measures | 876 | 1,920 |
| Payment on capital measures | (4,769) | (6,096) |
| Structural change without loss of control | (20,080) | 77 |
| Dividends paid | (403,380) | (410,284) |
| Proceeds from long-term debts | 554,095 | 77,405 |
| Repayment of long-term debts | (774,338) | (10,705) |
| Acquisition / disposal of treasury shares | (13) | 5 |
| Cash flow from financing activities | (647,609) | (347,678) |
| IV. Exchange rate differences on cash | 46,058 | (41,719) |
| Cash and cash equivalents at the beginning of the period | 642,936 | 572,188 |
| Change in cash and cash equivalents (I. + II. + III. + IV.) | 134,000 | 74,581 |
| Changes in the consolidated group | (4,054) | (3,833) |
| Cash and cash equivalents at the end of the period | 772,882 | 642,936 |
| Supplementary information on the cash flow statement1 | ||
| Income taxes paid (on balance) | (113,032) | (278,326) |
| Dividend receipts2 | 71,844 | 60,673 |
| Interest received | 1,415,936 | 1,457,912 |
| Interest paid | (175,025) | (168,701) |
| 1 The income taxes paid, dividend receipts as well as interest received and paid are included entirely in the cash flow from operating activities. 2 Including dividend-like profit participations from investment funds |
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