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Consolidated Statement of Cash Flows
Financial Part
Consolidated statement of cash flows for the years ended 31 December
i Excel-Download| In CHF million | Notes | 2019 | 2018 |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Premiums, policy fees and deposits received, net of reinsurance | 18 702 | 16 613 | |
| Benefits and claims paid, net of reinsurance | –14 283 | –14 086 | |
| Interest received | 3 014 | 3 184 | |
| Dividends received | 742 | 644 | |
| Commissions received | 1 476 | 1 294 | |
| Rentals received | 1 303 | 1 178 | |
| Interest paid | –42 | –36 | |
| Commissions, employee benefit and other payments | –3 890 | –2 679 | |
| Net cash flows from | |||
| derivatives | –1 102 | –488 | |
| financial instruments at fair value through profit or loss | –219 | –1 169 | |
| financial assets available for sale | 1 064 | –2 334 | |
| loans | –1 277 | 1 522 | |
| investment property | –3 015 | –2 286 | |
| deposits | 71 | 1 633 | |
| other operating assets and liabilities | –173 | –75 | |
| Income taxes paid | –211 | –221 | |
| TOTAL NET CASH FLOWS FROM OPERATING ACTIVITIES | 2 161 | 2 693 | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Purchases of investments in associates | –90 | –6 | |
| Sales of investments in associates | 10 | 4 | |
| Dividends received from associates | 4 | 7 | |
| Purchases of property and equipment | –30 | –28 | |
| Sales of property and equipment | 5 | 7 | |
| Purchases of computer software and other intangible assets | –21 | –20 | |
| Acquisitions of subsidiaries, net of cash and cash equivalents | 28 | –886 | –243 |
| Disposals of subsidiaries, net of cash and cash equivalents | 28 | –118 | 48 |
| TOTAL NET CASH FLOWS FROM INVESTING ACTIVITIES | –1 125 | –231 | |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Issuance of debt instruments | 20 | 850 | 174 |
| Redemption of debt instruments | 20 | –225 | –301 |
| Lease principal payments | –40 | – | |
| Issuance of hybrid equity | 26 | – | 422 |
| Distribution out of capital contribution reserve | –83 | –460 | |
| Purchases of treasury shares | –913 | –126 | |
| Borrowing costs paid | –123 | –140 | |
| Interest paid on hybrid equity | –7 | –4 | |
| Dividends paid to equity holders of Swiss Life Holding | –464 | – | |
| Dividends paid to non-controlling interests | –2 | –4 | |
| TOTAL NET CASH FLOWS FROM FINANCING ACTIVITIES | –1 007 | –439 | |
| TOTAL CHANGE IN CASH AND CASH EQUIVALENTS | 29 | 2 022 | |
| Cash and cash equivalents as at 1 January | 8 410 | 6 611 | |
| Foreign currency differences | –192 | –224 | |
| Total change in cash and cash equivalents | 29 | 2 022 | |
| CASH AND CASH EQUIVALENTS AS AT END OF PERIOD | 8 247 | 8 410 | |
| COMPONENTS OF CASH AND CASH EQUIVALENTS | |||
| Cash on hand and demand deposits | 5 298 | 5 586 | |
| Cash equivalents | 5 | 7 | |
| Cash and cash equivalents for the account and risk of the Swiss Life Group’s customers | 2 944 | 2 817 | |
| TOTAL CASH AND CASH EQUIVALENTS AS AT END OF PERIOD | 8 247 | 8 410 |
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