Consolidated cash flow statement

Change in cash and cash equivalents
in EUR '000

2020

2019

Result of the period

242,668

413,088

Change in underwriting provisions net

-496,340

697,415

Change in underwriting receivables and liabilities
(incl. deposits on assumed reinsurance business)

-38,154

50,372

Change in other receivables and other liabilities (excl. leases)

76,321

96,646

Change in financial assets recognised at fair value through profit and loss
(incl. held for trading)

-14,756

-14,292

Gain/loss from disposal of investments

-132,379

-211,826

Appreciation/depreciation of investments

129,354

125,734

Change in provisions for pensions and similar obligations and provisions for other employee benefits

-2,311

111,061

Change in deferred taxes

-95,263

-4,081

Change in intangible assets

286,510

189,028

Change in right-of-use assets and lease receivables and liabilities

65

44,995

Change in other balance sheet items

-55,569

51,974

Other cash-neutral income and expenses1

410,474

-251,350

Cash flow from operating activities

310,620

1,298,764

Payments for the acquisition of subsidiaries

-8,895

-68,631

Payments for the acquisition of at equity consolidated companies

0

-153

Cash inflow from the sale of available for sale financial assets

2,699,733

2,946,231

Payments for the acquisition of available for sale finanical assets

-3,360,990

-3,420,012

Cash inflow from disposals/repayments of held to maturity financial assets

425,385

260,575

Payments for the acquisition of held to maturity financial assets

-156,934

-64,117

Cash inflow from the sale of property

7,783

70,834

Payments for the acquisition of property

-152,911

-387,667

Cash inflow for the sale of intangible assets

4,606

6,088

Payments for the acquisition of intangible assets

-117,462

-170,239

Change in financial investments for unit-linked and index-linked life insurance

695,280

120,203

Change of loans

-102,570

-19,252

Change in other investments (excl. deposits on assumed reinsurance business)

165,623

-159,864

Cash flow from investing activities

98,648

-886,004

Cash outflows from subordinated liabilities

-64,518

-64,917

Dividend payments

-155,389

-142,573

Cash inflow from other financing activities

153,239

131,142

Cash outflow from other financing activities

-23,682

-130,335

Cash outflows from lease liabilities

-33,282

-33,615

Cash flow from financing activities

-123,632

-240,298

Change in cash and cash equivalents

285,636

172,462

 

 

 

Cash and cash equivalents at beginning of period2

1,443,358

1,347,279

Change in cash and cash equivalents

285,636

172,462

Changes in scope of consolidation

30,603

-77,478

Effects of foreign currency exchange differences on cash and cash equivalents

-14,450

1,095

Cash and cash equivalents at end of period2

1,745,147

1,443,358

1

The non-cash income and expenses are primarily 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 and consists of cash on hand and overnight deposits.

Additional information statement of consolidated cash flows
in EUR '000

2020

2019

Received interest1

707,750

766,045

Received dividends1

46,777

56,300

Interest paid2

70,424

85,923

Income taxes paid1

210,520

73,458

 

 

 

Expected cash flow from reclassified securities

6,086

7,562

Effective interest rate of reclassified securities

3.80%

4.60%

1

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

2

Interest paid result primarily liabilities from financing activities.

Reconciliation of liabilities from financing activities
in EUR '000

31.12.2020

Subordinated liabilities (including interest)1

Liabilities to financial institutions

Lease liabilities

Financing liabilities2

Book value as of 31.12. of the previous year

1,496,971

215,418

199,332

74,539

Cash changes

-64,518

103,795

-33,282

25,762

Cash inflows

0

124,739

0

28,500

Payments

0

-16,803

-33,282

-889

Interest paid

-64,518

-4,141

0

-1,849

Non-cash changes

63,908

6,054

23,712

1,903

Additions

64,614

6,055

26,415

2,303

Disposals

0

0

-247

0

Measurement changes

0

0

-16

-387

Exchange rate differences

-706

-1

-2,440

-13

Book value as of 31.12.

1,496,361

325,267

189,762

102,204

1

The interest payable for subordinated liabilities is included in other liabilities.

2

Contains lease liabilities, derivative liabilities from financing liabilities and other financing liabilities

Reconciliation of liabilities from financing activities
in EUR '000

31.12.2019

Subordinated liabilities (including interest)1

Liabilities to financial institutions

Liabilities from public funding

Lease liabilities

Financing liabilities2

Book value as of 31.12. of the previous year

1,490,839

1,230,601

105,143

 

1,520,242

Cash changes

-64,917

-10,602

2,695

-33,615

8,714

Cash inflows

0

81,663

4,344

0

45,135

Payments

-350

-81,766

-1,621

-33,615

-26,925

Interest paid

-64,567

-10,499

-28

0

-9,496

Non-cash changes

71,049

-1,004,581

-107,838

232,947

-1,454,417

Additions

64,490

10,628

218

317,485

13,526

Disposals

0

0

-180

-32

-16,432

Changes in scope of consolidation

6,000

-1,015,209

-107,876

-84,487

-1,420,785

Reclassifications

301

0

0

0

-31,077

Measurement changes

0

0

0

0

342

Exchange rate differences

258

0

0

-19

9

Book value as of 31.12.

1,496,971

215,418

0

199,332

74,539

1

The interest payable for subordinated liabilities is included in other liabilities.

2

Contains lease liabilities, derivative liabilities from financing liabilities and other financing liabilities