Zurich Insurance Group AG Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	5,853	5,814	4,351	3,964	5,202	3,834
Depreciation & Amortization	177	438	494	427	495	474
Other Amortization	551	357	347	321	329	333
Gain (Loss) on Sale of Assets	-87	-114	104	159	185	-57
Gain (Loss) on Sale of Investments	-8,933	-16,295	-12,387	15,443	-14,918	-8,264
Change in Accounts Receivable	6,094	6,907	4,238	-1,006	-2,059	609
Reinsurance Recoverable	-1,232	217	-1,357	-143	-336	-2,105
Change in Insurance Reserves / Liabilities	3,957	9,414	7,395	-11,962	17,161	10,641
Change in Other Net Operating Assets	-800	-903	-1,264	312	1,103	-273
Other Operating Activities	1,128	1,649	5,415	-2,485	-3,214	1,122
Operating Cash Flow	6,832	7,603	7,345	5,042	3,167	5,701
Operating Cash Flow Growth	-13.40%	3.51%	45.68%	59.20%	-44.45%	16.73%
Capital Expenditures	-412	-370	-418	-535	-576	-552
Sale of Property, Plant & Equipment	40	9	57	54	155	60
Cash Acquisitions	-448	-1,078	-734	-328	-2,446	-26
Investment in Securities	-181	-80	-37	-	-36	13
Other Investing Activities	-	-	-	-	1	1
Investing Cash Flow	-906	-1,404	-1,132	-654	-2,886	-496
Long-Term Debt Issued	-	728	544	2,551	2,664	2,015
Total Debt Repaid	-1,349	-1,324	-1,407	-3,287	-967	-1,241
Net Debt Issued (Repaid)	127	-596	-863	-736	1,697	774
Repurchases of Common Stock	-1,269	-1,309	-2,023	-770	-455	-214
Common Dividends Paid	-4,665	-4,156	-3,877	-3,520	-3,199	-3,080
Other Financing Activities	-337	-311	-239	-247	-335	-152
Financing Cash Flow	-6,144	-6,372	-7,002	-5,273	-2,292	-2,672
Foreign Exchange Rate Adjustments	441	-382	278	-290	-386	666
Miscellaneous Cash Flow Adjustments	-	-	1	-	1	-
Net Cash Flow	223	-555	-510	-1,175	-2,396	3,199
Free Cash Flow	6,420	7,233	6,927	4,507	2,591	5,149
Free Cash Flow Growth	-14.29%	4.42%	53.69%	73.95%	-49.68%	24.61%
Free Cash Flow Margin	9.21%	10.53%	10.87%	7.69%	3.70%	8.73%
Free Cash Flow Per Share	44.60	49.95	47.33	30.13	17.27	34.33
Cash Interest Paid	513	507	534	523	955	928
Cash Income Tax Paid	2,072	1,702	1,665	1,465	1,486	1,406
Levered Free Cash Flow	2,050	4,274	-8,486	-14,543	3,402	3,378
Unlevered Free Cash Flow	2,316	4,549	-8,201	-14,265	3,695	3,627
Change in Working Capital	8,019	15,635	9,012	-12,799	15,059	8,158

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