Consolidated cash flow statement

Profit of the period

363,713

442,343

Change in underwriting provisions net

1,136,541

1,247,502

Change in underwriting receivables and liabilities

87,369

-42,044

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

-59,297

41,491

Change in other receivables and liabilities

66,492

208,557

Change in securities held for trading

119,625

409,401

Gain/loss from disposal of investments

-150,190

-460,472

Depreciations/appreciations of all other investments

349,194

439,772

Change in pension, severance and other personnel provisions

-39,758

-71,718

Change in deferred tax assets/liability excl. tax liabilities

-25,602

-33,881

Change in other balance sheet items

-199,481

101,946

Change in goodwill and other intangible assets

41,966

41,735

Other cash neutral income and expenses and adjustments to the result of the period

299,075

-235,534

Cash flow from operating activities

1,989,647

2,089,098

Cash inflow from the sale of fully and at equity consolidated companies

65,170

602,724

Payments for the acquisition of fully and at equity consolidated companies

-513,693

-1,248,562

Cash inflow from the sale of securities available for sale

3,880,012

4,835,485

Payments for the acquisition of available for sale securities

-5,320,268

-5,412,478

Cash inflow from the sale of securities held to maturity

218,360

40,977

Payments for the addition of securities held to maturity

-684,793

-155,477

Cash inflow from the sale of land and buildings

34,862

48,071

Payments for the acquisition of land and buildings

-237,903

-317,253

Change in unit- and index-linked life insurance items

-638,379

-582,327

Change in other investments

1,033,475

-837,760

Cash flow from investing activities

-2,163,157

-3,026,600

Capital increase incl. additional payments on hybrid capital

250,000

1,343,454

Decrease/increase in subordinated liabilities

39,859

-160

Dividend payments

-293,360

-119,037

Cash in- and outflow from other financing activities

6,146

-50,566

Cash flow from financing activities

2,645

1,173,691

Change in cash and cash equivalents

-170,865

236,189

Cash and cash equivalents at beginning of period

619,327

277,700

Change in cash and cash equivalents

-170,865

236,189

Change in scope of consolidation

36,416

97,437

Effects of foreign currency exchange differences on cash and cash equivalents

-355

8,001

Cash and cash equivalents at end of period

484,523

619,327

thereof non-profit housing societies

55,129

56,652

Additional information

Received interest

726,043

637,917

Received dividends

158,000

198,973

Interest paid

79,178

105,759

Income taxes paid

192,714

81,626

Expected cash flow from reclassified securities

54,670

25,984

Effective interest rate of reclassified securities

6.19%

6.41%