Liquidity and financing
We generate liquidity primarily from our operational reinsurance business, investments and financing measures. Regular liquidity planning and a liquid investment structure ensure that Hannover Re is able to make the necessary payments at all times. Hannover Re's cash flow is shown in the consolidated cash flow statement.
| Consolidated cash flow statement in EUR million | 2009 | 2008 |
|---|---|---|
| Cash flow from operating activities | 1,751.9 | 1,458.9 |
| Cash flow from investing activities | (1,786.3) | (1,034.1) |
| Cash flow from financing activities | 57.7 | (318.7) |
| Exchange rate differences on cash | 3.9 | (11.3) |
| Change in cash and cash equivalent | 27.2 | 94.8 |
| Cash and cash equivalents at the beginning of the period | 430.2 | 335.4 |
| Change in cash and cash flow equivalents according to cash flow statement | 27.2 | 94.8 |
| Cash and cash equivalents at the end of the period | 457.4 | 430.2 |