Consolidated statement of Cash Flows

Consolidated statement of cash flowsNote1 January - 31 December 20131 January - 31 December 2012
Cash flows from operating activities      
Inflows   19 673 140 19 384 276
- gross inflows from insurance premiums   16 065 448 16 324 691
- inflows from investment contracts   1 097 951 1 859 439
- inflows from reinsurance commissions and share in reinsurers’ profits   69 069 13 967
- reinsurers’ payments due to share in claims   281 363 133 668
- inflows from claims handling services   229 562 230 235
- inflows from sale of units by investment fund    667 262 -
- other inflows from operating activities   1 262 485 822 276
Outflows   (16 840 369) (18 155 919)
- insurance premiums paid due to reinsurance   (242 809) (196 190)
- paid commissions and profit sharing due to outward reinsurance   (1 685) (2 521)
- gross claims paid   (8 354 637) (8 901 396)
- claims paid due to investment contracts   (1 334 843) (3 186 306)
- outflows due to acquisition   (1 673 032) (1 524 373)
- administrative outflows   (2 075 101) (2 137 169)
- interest payments     (415) (65)
- income tax payments   (863 601) (664 465)
- outflows from claims handling services   (474 690) (439 757)
- outflows from purchase of units by investment fund   (402 519) -
- other operating outflows   (1 417 037) (1 103 677)
Net cash flows generated by operating activities   2 832 771 1 228 357
Cash flows from investment activities      
Inflows   657 482 806 360 665 055
- disposal of investment property   20 982 -
- inflows from investment property   134 991 8 594
- disposal of intangible assets and property, plant and equipment   12 177 13 917
- disposal of shares   8 201 739 3 379 218
- redemption of debt securities   114 078 782 56 717 604
- sales of debt securities under buy-sell-back transactions   360 885 329 149 885 455
- withdrawal of term deposits at credit institutions   152 486 255 139 511 297
- cash from other investments   18 892 364 9 679 935
- interest received   2 163 196 1 336 736
- dividends received   127 240 131 507
- cash inflows due to change of consolidation scope 3.4.1 479 751 792
Outflows   (659 878 598) (360 243 667)
 - acquisition of investment property   (391 751) -
- payments for maintenance of investment property   (87 860) (14 605)
- acquisition of intangible assets and property, plant and equipment   (225 114) (144 881)
- acquisition of shares   (9 577 388) (9 116 873)
- decrease in cash due to elimination of investment funds from consolidation 2.2 (14 551) -
- acquisition of debt securities   (114 022 255) (56 903 331)
- opening buy-sell-back transactions   (362 298 300) (151 113 561)
- opening term deposits with credit institutions   (155 299 282) (139 194 248)
- acquisition of other investments   (17 951 679) (3 747 925)
- other payments for investments   (10 418) (8 243)
Net cash used in/generated by investment activities   (2 395 792) 421 388
Cash flows from financing activities      
Inflows   106 079 401 81 451 416
- loans and borrowings and issues of debt securities 1)   106 079 401 81 451 416
Outflows   (106 098 984) (83 198 530)
- dividends paid to holders of the parent’s equity   (4 166 166) (1 873 391)
- dividends paid to non-controlling  interest   - (5 860)
- repayment of loans and borrowings and redemption of debt securities 1)   (101 917 859) (81 312 622)
- interest on credit facilities, loans and issued debt securities   (14 959) (6 657)
Net cash used in financing activities   (19 583) (1 747 114)
Total net cash flows   417 396 (97 369)
Cash and cash equivalents at the beginning of the financial year   136 586 237 724
Change in cash due to exchange differences   (5 716) (3 769)
Cash and cash equivalents at the end of the financial year, including: 23 548 266 136 586
- of limited disposability   110 819 24 794

1) These items above almost all include cash flows resulting from short term sell-buy-back transactions.