Consolidated Statement of Cash Flow I
 
 
Consolidated statement of cash flows for the years ended 31 December
In CHF millionNotes  20082007
 
Cash flows from operating activities 
Premiums, policy fees and deposits received, net of reinsurance  18 14520 809
Benefits and claims paid, net of reinsurance  –19 107–17 368
Interest received  3 7775 290
Dividends received  416880
Commissions received  1 110502
Rentals received  702685
Interest paid  –70–143
Commissions, employee benefit and other payments  –4 570–3 332
Net foreign currency gains/losses on cash and cash equivalents  69136
Net cash flows from 
     Derivatives   2 116–556
     Financial instruments at fair value through profit or loss   –9882 178
     Financial assets available for sale   2 672–12 868
     Loans   1 1762 615
     Financial assets held to maturity   –3 998426
     Investment property   –256–321
     Deposits   4 3531 786
     Other operating assets and liabilities   –1 011–163
Net cash flows from operating activities before income tax  4 536556
Income taxes paid  –176–195
Total net cash flows from operating activities  4 360361
 
Cash flows from investing activities 
Purchases of investments in associates  –530–3
Sales of investments in associates  1
Dividends received from associates16  910
Purchases of property and equipment  –236–101
Sales of property and equipment  3314
Purchases of computer software and other intangible assets  –10–6
Acquisitions of minority interest  –28
Acquisitions of subsidiaries, net of cash and cash equivalents  –1 211–219
Disposals of subsidiaries, net of cash and cash equivalents  4 118305
Total net cash flows from investing activities  2 173–27
 
Balance carried forward to next page  6 533334