Hannover Rück SE Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	3,020	2,768	2,397	1,828	1,543	1,300
Depreciation & Amortization	-	-	-	-	-355.42	-45.91
Other Adjustments	937.4	368.1	-446.4	-1,516	45.29	-176.38
Changes in Receivables	-	-	-	-	-780.12	-844.02
Changes in Reinsurance Contract Assets	581.5	262.3	19.8	1,171	283.03	713.61
Changes in Deferred Acquisition Costs	-	-	-	-	-186.08	-106.02
Changes in Claims Reserves	1,331	2,504	2,857	3,853	4,310	4,176
Changes in Income Taxes Payable	-	-	-	-	346.84	241.33
Changes in Other Operating Activities	7.6	-215	855	449.8	-41.54	-318.52
Operating Cash Flow	5,879	5,687	5,682	5,786	5,164	4,940
Operating Cash Flow Growth	3.18%	0.09%	-1.79%	12.03%	4.53%	63.69%
Purchases of Investments	-34,974	-45,156	-31,890	-32,189	-26,013	-26,316
Proceeds from Sale of Investments	31,005	40,922	27,383	27,837	20,473	21,126
Proceeds from Business Divestments	-	-	90.4	-	-	-
Other Investing Activities	215.85	204.1	4.1	-157.8	158.16	-70.45
Investing Cash Flow	-4,063	-4,030	-4,412	-4,510	-5,383	-5,261
Long-Term Debt Issued	74.4	102.9	-	361.3	894.52	881.1
Long-Term Debt Repaid	-398.25	-703.7	-196.3	-1,119	-37.99	-15.59
Net Long-Term Debt Issued (Repaid)	-323.85	-600.8	-196.3	-757.3	856.53	865.51
Issuance of Common Stock	-	-	16.3	27.1	0.03	0.31
Repurchase of Common Stock	-	-	-1.7	-	-0.13	-0.34
Net Common Stock Issued (Repurchased)	-	-	14.6	27.1	-0.1	-0.03
Common Dividends Paid	-561	-1,122	-913.1	-768.6	-723.48	-588.48
Other Financing Activities	-11.4	-24.1	-10.2	-2.6	0.3	0.51
Financing Cash Flow	-1,742	-1,746	-1,105	-1,501	133.25	277.51
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-65	-112	33.5	-42.7	53.22	120.13
Net Cash Flow	9.2	-201.6	198.3	-268.4	-31.94	77.04
Free Cash Flow	5,879	5,687	5,682	5,786	5,164	4,940
Free Cash Flow Growth	3.37%	0.09%	-1.79%	12.03%	4.53%	63.69%
FCF Margin	23.35%	22.37%	22.27%	25.06%	22.23%	18.94%
Free Cash Flow Per Share	48.74	47.16	47.11	47.97	42.82	40.97
Levered Free Cash Flow	3,137	2,088	3,007	2,688	1,684	2,581
Unlevered Free Cash Flow	3,684	2,892	3,349	3,563	1,003	1,850

Updated Mar 31, 2026. Data Source: Fiscal.ai. Insurance template. Financial Sources.