Consolidated statement of cash flows for the period from 1 January 2016 to 31 December 2016

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in EUR '000

2016

2015 adjusted

1

The non-cash income and expenses are primarily due to the results of shares held in at-equity companies and exchange rate changes.

2

The amount of Cash and cash equivalents at the beginning and the end of period correlates with position Cash and cash equivalents on the Asset side.

3

interest paid result primarily from financing activities.

4

Income tax payments, received dividends and received interest are included in the cash flow from operating ctivities.

Result of the period

320,990

-14,766

Change in underwriting provisions net

710,921

877,924

Change in underwriting receivables and liabilities

-85,826

65,664

Change in deposit receivables and liabilities as well as in reinsurance receivables and liabilities

41,981

12,249

Change in other receivables and liabilities

3,624

-75,152

Change in securities held for trading

65,041

73,217

Gain/loss from disposal of investments

-84,717

-200,002

Depreciation/appreciation of all other investments

64,081

82,979

Change in pension, severance and other personnel provisions

98,500

-56,988

Change in deferred tax asset/liability excl. tax liabilities

-4,214

34,700

Change in other balance sheet items

213

-13,639

Change in goodwill and other intangible assets

87,033

439,022

Other cash-neutral income and expenses and adjustments to the result of the period1

-84,963

-106,596

Cash flow from operating activities

1,132,664

1,118,612

Cash inflow from sale of subsidiaries

0

64,306

Cash inflow from the sale of associated companies

6,757

0

Payments for the acquisition of subsidiaries

-107,482

-26,065

Cash inflow from the sale of available for sale securities

3,268,788

4,141,973

Payments for the acquisition of available for sale securities

-3,873,475

-4,987,303

Cash inflow from the disposals/repayments of held to maturity securities

186,173

306,374

Payments for the addition of held to maturity securities

-191,713

-277,784

Cash inflow from the sale of land and buildings

30,527

29,531

Payments for the acquisition of land and buildings

-303,069

-119,512

Cash inflow for the sale of intangible assets

2,071

534

Payments for the acquisition of intangible assets

-41,390

-54,543

Change in unit-linked and index-linked life insurance items

-111,971

-226,492

Change in other investments

441,778

261,313

Cash flow from investing activities

-693,006

-887,668

Corporate actions, incl. hybrid capital

0

-60,519

Increase in subordinated liabilities

0

400,000

Decrease of subordinated liabilities

-9,300

-39,892

Dividend payments

-99,357

-205,258

Cash inflow from other financing activities

19,302

0

Cash outflow from other financing activities

-20,713

-2,597

Cash flow from financing activities

-110,068

91,734

Change in cash and cash equivalents

329,590

322,678

Cash and cash equivalents at beginning of period2

1,101,212

779,965

Change in cash and cash equivalents

329,590

322,678

Additions/disposals from change in consolidation method

162,570

1,068

Effects of foreign currency exchange differences on cash and cash equivalents

-3,431

-2,499

Cash and cash equivalents at end of period2

1,589,941

1,101,212

thereof non-profit societies

148,770

0

 

 

 

Additional information on Cash Flow Statement

 

 

Received interest 4

760,824

796,235

Received dividends4

147,601

154,416

Interest paid3

76,886

48,417

Income taxes paid4

45,725

61,510

 

 

 

Expected cash flow from reclassified securities

21,852

22,653

Effective interest rate of reclassified securities

3.37%

4.34%