Hannover Rück SE Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	2,642	2,329	1,825	780.8	1,231
Depreciation & Amortization	96.5	95.1	90.9	83.8	133.79
Gain (Loss) on Sale of Investments	-	-	-	-	-327.05
Change in Accounts Receivable	-	-	-	192.2	-844.02
Reinsurance Recoverable	-	-	-	-152.4	-
Change in Deferred Taxes	-	-	-	-	241.33
Change in Insurance Reserves / Liabilities	-	-	-	-	4,281
Change in Other Net Operating Assets	2,551	3,732	5,473	-1,059	290.39
Other Operating Activities	371.6	-510.9	-1,683	5,084	22.98
Operating Cash Flow	5,687	5,682	5,786	4,947	4,940
Operating Cash Flow Growth	0.09%	-1.79%	16.95%	0.13%	63.69%
Investment in Securities	-3,796	-4,368	-3,760	-4,882	-5,256
Other Investing Activities	55.4	129.7	-339.3	318.7	30.06
Investing Cash Flow	-4,030	-4,412	-4,510	-5,077	-5,261
Long-Term Debt Issued	102.9	-	361.3	894.5	881.1
Total Debt Repaid	-703.7	-196.3	-1,119	-127	-15.59
Net Debt Issued (Repaid)	-600.8	-196.3	-757.3	767.5	865.51
Common Dividends Paid	-844.2	-723.6	-603	-572.83	-542.69
Other Financing Activities	-60.1	-40.4	-20.5	-29.8	-45.31
Financing Cash Flow	-1,746	-1,105	-1,501	44.3	277.51
Foreign Exchange Rate Adjustments	-112	33.5	-42.7	53.2	120.13
Net Cash Flow	-201.6	198.3	-268.4	-31.9	77.04
Cash Interest Paid	387.4	302.7	341.8	413.7	418.9
Cash Income Tax Paid	973.4	361.6	320.8	70.9	137.06
Levered Free Cash Flow	2,900	830.98	8,879	36,149	1,108
Unlevered Free Cash Flow	2,984	926.04	8,978	36,212	1,292
Change in Working Capital	2,551	3,732	5,473	-1,020	3,863

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.