a.

Income statement items

15,483,061

83,347,693

1.

Net written premium for the period

7.1

921,231,920

943,572,313

2.

Investment income (excluding financial income)
arising from

7.2

52,023,035

97,321,632

- insurance technical provisions

48,394,304

85,873,869

- other sources

3,628,731

11,447,763

3.

Other operating income (excluding revaluation
and provisions reductions)
operating revenues and financial income from
operating receivables

92,424,896

94,388,281

4.

Net claims paid

7.8

-575,979,434

-565,839,477

5.

Bonuses and rebates paid

7.10

-10,789,820

-7,023,719

6.

Net operating expenses excluding depreciation
charge and changes in the accrued acquisition
expenses

7.11

-180,378,877

-223,122,725

7.

Investment expenses (excluding financial expenses)
arising from

7.3

-128,112,894

-80,215,840

- technical sources

-113,123,136

-65,974,172

- other sources

-14,989,758

-14,241,668

8.

Other operating expenses excluding depreciation charge
(except for revaluations and without increasing provisions)

7.13

-130,489,363

-165,401,229

9.

Corporate income tax and other taxes excluded
from operating expenses

-24,446,402

-10,331,543

b.

Changes in net current assets-operating balance sheet items

-108,901,945

-13,961,043

1.

Movements in receivables from insurance operations

6.7

-8,701,560

-45,957,161

2.

Movements in receivables from reinsurance operations

13,231,300

-13,254,063

3.

Movements in other receivables from (re)insurance operations

11,946,762

-911,942

4.

Movements in other receivables and assets

-5,150,334

-10,282,220

5.

Movements in deferred tax assets

-8,192,753

-4,525,176

6.

Movements in inventories

543,313

376,634

7.

Movements in debts from direct insurance operations

6.18

-763,375

12,553,097

8.

Movements in debts from reinsurance operations

1,501,610

4,861,141

9.

Movements in operating debts

-93,986,597

27,622,054

10.

Movements in other liabilities (excluding unearned premiums)

2,732,819

23,166,123

11.

Movements in deferred tax liabilities

6.16

-22,063,130

-7,609,531

c.

Operating cash flow

8.5

-93,418,884

69,386,650

a.

Cash inflows from investing activities

3,154,641,695

3,830,451,648

1.

Cash inflows from interest from investing activities and from

6.5

81,672,158

82,919,195

- investment financed by insurance technical provisions

77,990,411

77,320,216

- other investment

3,681,747

5,598,979

2.

Cash inflows from dividends received and profit sharing, arising from

6.5

4,820,953

4,742,245

- investment financed by insurance technical provisions

1,563,343

2,155,552

- other investment

3,257,610

2,586,693

3.

Cash inflows from the disposal of intangible assets financed by

6.1

776,499

255,070

- insurance technical provisions

155,769

223,281

- other sources

620,730

31,789

4.

Cash inflows from the disposal of property, plant and equipment
financed by

6.2

2,239,195

2,295,708

- insurance technical provisions

294,039

1,377,554

- other sources

1,945,156

918,154

5.

Cash inflows from the disposal of non-current investments
financed by

6.5

854,302,483

944,433,982

- insurance technical provisions

741,489,085

781,575,078

- other sources

112,813,398

162,858,904

6.

Cash inflows from the disposal of current investments financed by

6.5

2,210,830,407

2,795,805,448

- insurance technical provisions

2,055,075,841

2,618,867,548

- other sources

155,754,566

176,937,900

b.

Cash outflows from investing activities

-3,060,222,681

-3,886,606,162

1.

Cash outflows for the purchase of intangible assets

6.1

-5,123,713

-4,656,655

2.

Cash outflows for the purchase of property, plant and equipment
financed by

6.2

-9,586,447

-17,108,853

- insurance technical provisions

-4,532,464

-3,260,195

- other sources

-5,053,983

-13,848,658

3.

Cash outflows for the purchase of non-current investments
financed by

6.5

-926,368,493

-1,226,313,687

- insurance technical provisions

-788,020,378

-1,078,995,831

- other sources

-138,348,115

-147,317,856

4.

Cash outflows for the purchase of current investments
financed by

6.5

-2,119,144,028

-2,638,526,967

- insurance technical provisions

-1,968,482,135

-2,520,295,968

- other sources

-150,661,893

-118,230,999

c.

Total cash flow from investing activities

94,419,014

-56,154,514

a.

Cash inflows from financing activities

21,248,068

26,245,413

1.

Cash inflows from paid-in capital

0

0

2.

Cash inflows from long-term loans received

6.12

4,857,115

11,330,000

3.

Cash inflows from short-term loans received

16,390,953

14,915,413

b.

Cash outflows from financing activities

-33,673,683

-34,977,421

1.

Cash outflows for paid interest

-3,829,877

-2,686,525

2.

Cash outflows for repayments of principal

0

0

3.

Cash outflows for payments of long-term financial liabilities

-13,933,500

-12,936,550

4.

Cash outflows for payments of short-term financial liabilities

-7,030,545

-19,346,321

5.

Cash outflows from dividends paid and profit sharing

-8,879,761

-8,024

c.

Total cash flow from financing activities

-12,425,615

-8,732,007