Munich Re Group Annual Report 2006 (PDF, 1.8

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Munich Re Group Annual Report 2006 Group statement of changes in equity 146 Consolidated financial statements_Group statement of changes in equity Equity attributable to Munich Re equity holders Minority Total interests equity Issued Capital Retained earnings Other reserves Consolicapital reserve dated result Retained Own Unrealised Reserve Valuation earnings shares gains and from result from before held losses currency cash flow deduction translation hedges of own All figures in €m shares Status at 31.12.2004 * 588 6,800 7,031 –158 4,621 –674 10 1,833 441 20,492 Allocation to retained earnings – – 1,376 – – – – –1,376 – – Total recognised income and expenses – – –370 – 1,507 640 –4 2,679 42 4,494 Dividend – – – – – – – –457 –16 –473 Adjustments pursuant to IAS 8 – – –59 – – – – – –14 –73 Share buy-backs – – – –43 – – – – – –43 Status at 31.12.2005 * 588 6,800 7,978 –201 6,128 –34 6 2,679 453 24,397 Allocation to retained earnings – – 1,972 – – – – –1,972 – – Total recognised income and expenses – – –22 – 189 –595 8 3,440 45 3,065 Dividend – – – – – – – –707 –16 –723 Adjustments pursuant to IAS 8 – – –52 – – – – – 1 –51 Share buy-backs – – – –259 – – – – – –259 Status at 31.12.2006 588 6,800 9,876 –460 6,317 –629 14 3,440 483 26,429 * Adjusted owing to first-time application of IAS 19 (rev. 2004).
Munich Re Group Annual Report 2006 Consolidated financial statements_Consolidated cash flow statement Consolidated cash flow statement for the financial year 2006 Prev. year * €m €m Consolidated result 3,536 2,751 Net change in technical provisions 1,423 10,794 Change in deferred acquisition costs –81 –309 Change in deposits retained and accounts receivable and payable 1,967 –1,268 Change in other receivables and liabilities 1,303 –1,413 Gains and losses on the disposal of investments –2,559 –4,511 Change in securities held for trading –254 –1,374 Change in other balance sheet items 219 976 Other income/expenses without impact on cash flow 1,332 473 I. Cash flows from operating activities 6,886 6,119 Inflows from the sale of consolidated companies 10 173 Outflows for the acquisition of consolidated companies 190 28 Change from the acquisition, sale and maturities of other investments –4,157 –2,529 Change from the acquisition and sale of investments for unit-linked life insurance –289 –20 Other 130 –524 II. Cash flows from investing activities –4,496 –2,928 Inflows from increase in capital – – Outflows for share buy-backs 259 43 Dividend payments 723 473 Change from other financing activities –1,514 –2,385 III. Cash flows from financing activities –2,496 –2,901 Cash flows for the financial year (I + II + III) –106 290 Effect of exchange rate changes on cash –59 20 Cash at the beginning of the financial year 2,337 2,027 Cash at the end of the financial year 2,172 2,337 Additional information Income tax paid (net) 471 404 Dividends received 1,003 771 Interest received 6,473 6,363 Interest paid 715 421 * Adjusted owing to first-time application of IAS 19 (rev. 2004). Our reporting on the Group cash flow is based on IAS 7 and the principles of German Accounting Standard No. 2 (DRS 2) issued by the German Standards Board (DSR) for the presentation of cash flow statements. This has been supplemented by the requirements of DRS 2–20, which applies specifically to insurance companies. In accordance with the recommendations of the DSR for insurance companies, we have applied the indirect presentation method. The “cash fund” within the meaning of the German Accounting Standard is limited to cash and cash equivalents shown under balance sheet item F “cash at bank, cheques and cash in hand”. Further information on the consolidated cash flow statement can be found in the management report on page 102 f. 147
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Munich Re Group Annual Report 2006
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The Munich Re Group Our operations
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Munich Re Group in 2006 Tireless an
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Notable events in 2006 / Letter to
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Page 100 and 101: Munich Re Group Annual Report 2006
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Glossary / Index of key terms / Imp
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Quarterly figures Balance sheet 31.
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© 2007 Münchener Rückversicherun
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