| in EUR thousand | 1.1. – 30.6.2016 | 1.1. – 30.6.2015 |
|---|---|---|
| I. Cash flow from operating activities | ||
| Net income | 514,445 | 556,772 |
| Appreciation / depreciation | 71,454 | 21,357 |
| Net realised gains and losses on investments | (79,528) | (66,644) |
| Change in fair value of financial instruments (through profit or loss) | (20,539) | 1,625 |
| Realised gains and losses on deconsolidation | (1,404) | (424) |
| Income from the recognition of negative goodwill | (8,595) | – |
| Amortisation of investments | 40,730 | 54,982 |
| Changes in funds withheld | (141,771) | (838,937) |
| Net changes in contract deposits | (379,225) | 563,128 |
| Changes in prepaid reinsurance premium (net) | 271,029 | 562,403 |
| Changes in tax assets / provisions for taxes | 40,911 | 29,154 |
| Changes in benefit reserve (net) | 284,727 | (23,908) |
| Changes in claims reserves (net) | 479,425 | 750,266 |
| Changes in deferred acquisition costs | 31,235 | (101,880) |
| Changes in other technical provisions | (24,909) | (15,538) |
| Changes in clearing balances | (234,255) | (533,933) |
| Changes in other assets and liabilities (net) | (96,729) | (109,979) |
| Cash flow from operating activities | 747,001 | 848,444 |
| II. Cash flow from investing activities | ||
| Fixed-income securities – held to maturity | ||
| Maturities | 338,632 | 515,198 |
| Purchases | – | – |
| Fixed-income securities – loans and receivables | ||
| Maturities, sales | 75,380 | 111,213 |
| Purchases | (36,836) | (97,001) |
| Fixed-income securities – available for sale | ||
| Maturities, sales | 5,354,187 | 5,036,713 |
| Purchases | (5,530,034) | (5,211,552) |
| Fixed-income securities – at fair value through profit or loss | ||
| Maturities, sales | 16,765 | 18,358 |
| Purchases | (10,688) | (36,354) |
| Equity securities – available for sale | ||
| Sales | 23,087 | 3,467 |
| Purchases | (409,650) | (4,038) |
| Other financial assets – at fair value through profit or loss | ||
| Sales | 26,637 | 47,228 |
| Purchases | (10,445) | (10,982) |
| Other invested assets | ||
| Sales | 167,148 | 89,933 |
| Purchases | (159,760) | (146,588) |
| Affiliated companies and participating interests | ||
| Sales | 13,685 | 111 |
| Purchases | (28,128) | (11,224) |
| Real estate and real estate funds | ||
| Sales | 37,261 | 41,546 |
| Purchases | (45,098) | (94,300) |
| Short-term investments | ||
| Changes | 279,512 | 62,342 |
| Other changes (net) | (9,970) | (13,781) |
| Cash flow from investing activities | 91,685 | 300,289 |
| III. Cash flow from financing activities | ||
| Contribution from capital measures | 2,191 | 663 |
| Payment on capital measures | (10,024) | (459) |
| Structural change without loss of control | 11 | – |
| Dividends paid | (611,594) | (555,933) |
| Proceeds from long-term debts | 121 | 23,035 |
| Repayment of long-term debts | (995) | (517,425) |
| Other changes | (13) | (10) |
| Cash flow from financing activities | (620,303) | (1,050,129) |
| IV. Exchange rate differences on cash | (6,045) | 21,302 |
| Cash and cash equivalents at the beginning of the period | 792,604 | 772,882 |
| Change in cash and cash equivalents (I. + II. + III. + IV.) | 212,338 | 119,906 |
| Cash and cash equivalents at the end of the period | 1,004,942 | 892,788 |
| Supplementary information on the cash flow statement1 | ||
| Income taxes paid (on balance) | (152,301) | (142,457) |
| Dividend receipts2 | 67,236 | 39,108 |
| Interest received | 746,684 | 755,703 |
| Interest paid | (100,169) | (87,124) |
| 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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