083 AMB GENERALI HOLDING AG CONSOLIDATED FINANCIAL STATEMENTS Chap. 3 The cash position corresponds to the balance-sheet line item of "Current-account balances with credit institutions, cheques and cash in hand". As at the reporting date, out of the amount of liquid resources included in the cash position, 267,250 thousand (previous year: 774,012 thousand) are part of the tied funds and therefore that part of the cash position can only be disposed of with the approval of a trustee. The cash-flow statement is determined by means of the indirect method. 2007 2006 `000 `000 Net profit 499,367 450,914 Change of underwriting provisions (net) 4,826,960 4,899,182 Change of deferred acquisition costs -429,983 -48,753 Change of reinsurance deposits receivable and payable as well as current accounts receivable and payable -63 125,341 Change of financial assets held for trading 87,899 104,508 Change of other amounts receivable and payable -438,614 -258,309 Realized capital gains/losses from the disposal of investments and of plant and equipment -725,693 -679,763 Change of deferred tax assets/liabilities -66,037 -23,061 Change of other balance-sheet items 10 145,752 Profits/losses due to deconsolidation -47,638 -15,672 Adjustment for investment income and expenditure not involving cash movements -234,652 -523,401 Cash flow due to operating activities 3,471,556 4,176,738 Receipts due to the disposal of affiliated and associated enterprises 51,491 6,800 Payments due to the acquisition of affiliated and associated enterprises -75,592 -31,276 Receipts due to the disposal of other investments 19,212,318 20,984,043 Payments due to the acquisition of other investments -22,099,361 -24,180,963 Receipts due to the disposal of investments under unit-linked life insurance 563,836 300,444 Payments due to the acquisition of investments under unit-linked life insurance -1,606,398 -1,171,749 Other receipts 139,209 112,897 Other payments -90,998 -185,632 Cash flow due to investing activities -3,905,495 -4,165,436 Change of bonds, loans and subordinated liabilities -94,430 359,662 Receipts due to capital increase -1,569 5,482 Dividend payments -125,209 -114,222 Cash flow due to financing activities -221,208 250,922 Impact of currency translation on cash position -350 -358 Change of the cash position due to the acquisition/disposal of consolidated subsidiaries -138 12,938 Cash position at the beginning of the business year 1,191,266 916,462 Change of the cash position -655,147 262,224 Cash position at the end of the period under report 535,631 1,191,266 2007 2006 `000 `000 Premiums written 11,530,117 11,496,842 Ordinary investment income 3,538,197 3,377,413 Claims payments 7,861,997 7,683,766 Commission payments 1,563,436 1,445,512 Tax payments 148,858 281,411 Cash flows Cash-flow statement