Consolidated cash flow statement 2015
| in EUR thousand | 1.1. – 31.12.2015 | 1.1. – 31.12.2014 |
|---|---|---|
| I. Cash flow from operating activities | ||
| Net income | 1,214,713 | 1,065,107 |
| Appreciation / depreciation | 64,493 | 58,384 |
| Net realised gains and losses on investments | (135,847) | (182,453) |
| Change in fair value of financial instruments (through profit or loss) | (901) | 33,257 |
| Realised gains and losses on deconsolidation | (835) | (2,602) |
| Amortisation of investments | 96,540 | 83,382 |
| Changes in funds withheld | 3,454,332 | (482,106) |
| Net changes in contract deposits | (1,923,135) | 119,362 |
| Changes in prepaid reinsurance premium (net) | 256,527 | 157,349 |
| Changes in tax assets / provisions for taxes | 159,250 | 182,543 |
| Changes in benefit reserve (net) | (958,105) | 57,841 |
| Changes in claims reserves (net) | 1,229,670 | 1,106,308 |
| Changes in deferred acquisition costs | (97,673) | (121,881) |
| Changes in other technical provisions | (9,106) | 38,995 |
| Changes in clearing balances | (97,390) | 73,975 |
| Changes in other assets and liabilities (net) | (147,658) | (256,569) |
| Cash flow from operating activities | 3,104,875 | 1,930,892 |
| II. Cash flow from investing activities | ||
| Fixed-income securities – held to maturity | ||
| Maturities | 1,184,382 | 618,208 |
| Purchases | – | (1,395) |
| Fixed-income securities – loans and receivables | ||
| Maturities, sales | 358,350 | 427,121 |
| Purchases | (153,057) | (100,302) |
| Fixed-income securities – available for sale | ||
| Maturities, sales | 10,400,105 | 11,304,019 |
| Purchases | (12,362,146) | (13,167,728) |
| Fixed-income securities – at fair value through profit or loss | ||
| Maturities, sales | 20,211 | 9,649 |
| Purchases | (58,570) | (34,622) |
| Equity securities – available for sale | ||
| Sales | 5,284 | 10,932 |
| Purchases | (402,902) | (9,793) |
| Other financial assets – at fair value through profit or loss | ||
| Sales | 74,043 | 59,706 |
| Purchases | (33,312) | (19,148) |
| Other invested assets | ||
| Sales | 183,271 | 142,588 |
| Purchases | (379,296) | (259,511) |
| Affiliated companies and participating interests | ||
| Sales | 59,723 | 24,688 |
| Purchases | (28,453) | (45,408) |
| Real estate and real estate funds | ||
| Sales | 104,414 | 102,472 |
| Purchases | (458,294) | (230,502) |
| Short-term investments | ||
| Changes | (531,057) | 11,735 |
| Other changes (net) | (30,771) | (38,050) |
| Cash flow from investing activities | (2,048,075) | (1,195,341) |
| III. Cash flow from financing activities | ||
| Contribution from capital measures | 4,007 | 876 |
| Payment on capital measures | (3,604) | (4,769) |
| Structural change without loss of control | (2,509) | (20,080) |
| Dividends paid | (557,435) | (403,380) |
| Proceeds from long-term debts | 23,400 | 554,095 |
| Repayment of long-term debts | (518,642) | (774,338) |
| Other changes (net) | (10) | (13) |
| Cash flow from financing activities | (1,054,793) | (647,609) |
| IV. Exchange rate differences on cash | 17,715 | 46,058 |
| Cash and cash equivalents at the beginning of the period | 772,882 | 642,936 |
| Change in cash and cash equivalents (I.+II.+III.+IV.) | 19,722 | 134,000 |
| Changes in the consolidated group | – | (4,054) |
| Cash and cash equivalents at the end of the period | 792,604 | 772,882 |
| Supplementary information on the cash flow statement1 | ||
| Income taxes paid (on balance) | (311,241) | (113,032) |
| Dividend receipts2 | 162,612 | 71,844 |
| Interest received | 1,509,625 | 1,415,936 |
| Interest paid | (182,910) | (175,025) |
| 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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