INSURANCE COMPANY

ARSENAL LLC


Consolidated statement of cash flows for the year ended December 31, 2012


















2012


2011








RUB ‘000


RUB ‘000

Cash flows from operating activities





Insurance premiums received


405,385


136,405

Other cash received


41,403


2,679

Paid insurance premiums transferred for reinsurance


(3,201)


(552)

Cash paid under insurance, co-insurance and reinsurance contracts


(9,993)


(11,076)

Acquisition costs


(6,251)


(2,517)

Payments to employees


(78,615)


(21,869)

Payments to suppliers


(123,163)


(17,817)

Cash flows from core activities


225,565


85,253

Income tax paid


(37,142)


(13,649)

Other payments


(170,602)


(19,032)

Net cash from operating activities


17,821


52,572

Cash flows from investing activities





Repayment of granted loans and sale of debt securities


92,154


3,050

Other proceeds


1,818,744


45,479

Acquisition of debt securities and granting loans


(96,451)


(6,235)

Other payments


(2,019,634)


(191,566)

Net cash from investing activities


(205,187)


(149,272)

Cash flows from financing activities





Credits and loans


62,000


-

Contributions from participants


150,000


190,000

Net cash from financing activities


212,000


190,000

Net change in cash and cash equivalents in the period


24,634


93,300

Cash and cash equivalents at the beginning of the period


148,474


55,174

Cash and cash equivalents at the end of the period


173,108


148,474