Statement of cash flow
For the years ended 31 December
| Download |
USD millions |
2014 |
2015 |
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Cash flows from operating activities |
|
|
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Net income attributable to common shareholders |
3 500 |
4 597 |
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Add net income attributable to non-controlling interests |
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3 |
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Adjustments to reconcile net income to net cash provided/used by operating activities: |
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|
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Depreciation, amortisation and other non-cash items |
458 |
594 |
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Net realised investment gains/losses |
–1 059 |
–1 221 |
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Income from equity-accounted investees, net of dividends received |
–66 |
202 |
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Change in: |
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|
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Technical provisions and other reinsurance assets and liabilities, net2 |
–34 |
–121 |
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Funds held by ceding companies and under reinsurance treaties |
433 |
764 |
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Reinsurance recoverable on unpaid claims and policy benefits |
1 273 |
670 |
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Other assets and liabilities, net2 |
–323 |
87 |
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Income taxes payable/recoverable |
134 |
–567 |
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Trading positions, net1.2 |
81 |
404 |
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Net cash provided/used by operating activities |
4 397 |
5 412 |
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Cash flows from investing activities |
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Fixed income securities: |
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Sales |
55 297 |
45 552 |
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Maturities |
4 315 |
4 529 |
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Purchases |
–67 447 |
–55 360 |
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Net purchases/sales/maturities of short-term investments2 |
5 921 |
6 103 |
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Equity securities: |
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|
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Sales |
6 894 |
1 790 |
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Purchases |
–2 918 |
–2 717 |
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Securities purchased/sold under agreement to resell/repurchase, net1 |
331 |
–2 089 |
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Cash paid/received for acquisitions/disposal and reinsurance transactions, net |
–257 |
404 |
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Net purchases/sales/maturities of other investments1.2 |
–1 642 |
2 264 |
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Net purchases/sales/maturities of investments held for unit-linked and with-profit business2 |
791 |
1 218 |
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Net cash provided/used by investing activities |
1 285 |
1 694 |
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|
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Cash flows from financing activities |
|
|
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Policyholder account balances, unit-linked and with-profit business:2 |
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Deposits |
250 |
518 |
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Withdrawals |
–1 695 |
–2 383 |
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Issuance/repayment of long-term debt |
1 438 |
199 |
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Issuance/repayment of short-term debt |
–2 584 |
–1 155 |
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Purchase/sale of treasury shares |
–197 |
–579 |
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Dividends paid to shareholders |
–3 129 |
–2 608 |
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Net cash provided/used by financing activities |
–5 917 |
–6 008 |
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Total net cash provided/used |
–235 |
1 098 |
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Effect of foreign currency translation |
–366 |
–365 |
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Change in cash and cash equivalents |
–601 |
733 |
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Cash and cash equivalents as of 1 January |
8 072 |
7 471 |
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Cash and cash equivalents as of 31 December |
7 471 |
8 204 |
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The accompanying notes are an integral part of the Group financial statements.