Consolidated Cash Flow Statement
FOR THE YEAR ENDED 30 JUNE 2007
| CONSOLIDATED | |||
| Notes | 2007 $m |
2006 $m |
|
|---|---|---|---|
| Cash flows from operating activities | |||
| Premium received | 7,149 | 6,530 | |
| Reinsurance and other recoveries received | 577 | 589 | |
| Claims costs paid | (5,037) | (4,423) | |
| Outwards reinsurance premium expense paid | (486) | (434) | |
| Dividends received | 65 | 85 | |
| Interest and trust distributions received | 467 | 415 | |
| Finance costs paid | (124) | (82) | |
| Income taxes refunded | 12 | 8 | |
| Income taxes paid | (403) | (497) | |
| Other operating receipts | 1,198 | 1,051 | |
| Other operating payments | (3,017) | (2,855) | |
| Net cash flows from operating activities | 401 | 387 | |
| Cash flows from investing activities | |||
| Net cash flows on acquisition of subsidiaries | 7(a) | (446) | (92) |
| Proceeds from disposal of investments and property, plant and equipment | 21,961 | 19,503 | |
| Outlays for investments and property, plant and equipment | (21,659) | (18,591) | |
| Repayment of premium funding loans | 398 | 448 | |
| Advances of premium funding loans | (378) | (446) | |
| Net cash flows from investing activities | (124) | 822 | |
| Cash flows from financing activities | |||
| Outlays for purchase of treasury shares | (30) | (19) | |
| Proceeds from issue of trust units | 1,118 | 1,152 | |
| Outlays for redemption of trust units | (1,131) | (1,288) | |
| Proceeds from borrowings | 969 | – | |
| Repayment of borrowings | (1,271) | (46) | |
| Dividends paid to IAG equity holders* | (492) | (647) | |
| Dividends paid to minority interests | (87) | (89) | |
| Proceeds from issue of shares | 1,112 | – | |
| Share issue costs paid | (19) | – | |
| Dividends received on treasury shares | 4 | – | |
| Net cash flows from financing activities | 173 | (937) | |
| Net movement in cash held | 450 | 272 | |
| Effects of exchange rate changes on balances of cash held in foreign currencies | (5) | (10) | |
| Cash and cash equivalents at the beginning of financial year | 718 | 456 | |
| Cash and cash equivalents at the end of financial year | 1,163 | 718 | |
* Includes dividends settled with shares under the Dividend Reinvestment Plan (refer to note 5) and the fully underwritten 2007 interim dividend (refer to note 6).
The above consolidated cash flow statement should be read in conjunction with the notes to the concise financial statements.