Key financial data

Condendsed consolidated statement of cash flows

for the six months ended 30 June 2018

 NotesSix months ended
30 June 2018
£m
Six months ended
30 June 2017
£m
Year ended
31 December 2017
£m
Profit after tax   72.9 57.9 126.7
         
Adjustments for:        
Depreciation of property and equipment 10 2.2 1.3 2.6
Amortisation of intangible assets 10 12.0 12.2 24.4
Net fair value (losses)/gains on financial assets recognised in profit or loss 8 0.7 (0.2) (0.4)
Other interest income 8 (3.8) (2.9) (6.4)
Finance costs 12 4.0 4.1 8.1
Taxation expense 13 13.9 11.0 22.3
Share based payments   2.4 2.5 4.8
Change in insurance and other receivables and prepayments   (41.6) (59.6) (69.3)
Change in insurance and other payables   16.8 54.6 37.4
Change in reinsurance assets   (111.6) (130.1) (265.4)
Change in deferred acquisition costs   (2.4) (5.1) (6.9)
Change in insurance contract liabilities   125.6 185.5 365.4
Share based payments net settlement   (0.9) - -
Taxation paid   (10.0) (9.3) (21.6)
Net cash flows from operating activities   80.2 121.9 221.7
         
Purchase of property and equipment   (2.1) (2.1) (3.1)
Acquisition of intangible assets   (9.1) (6.0) (14.2)
Interest received   9.4 0.1 6.8
Outlays for acquisition of financial assets at fair value   (87.9) (94.6) (231.1)
Proceeds from disposal of financial assets at fair value   94.3 31.6 98.6
Net cash flows from investing activities   4.6 (71.0) (143.0)
         
Purchase of own shares   (0.2) (0.3) (0.3)
Repayment of lease liabilities   (1.6) - -
Proceeds from new loans and borrowings   247.8 - -
Repayment of loans and borrowings   (275.0) (5.0) (15.0)
Interest paid on loans and borrowings   (3.3) (3.5) (6.0)
Other interest and refinancing costs paid   (1.2) (0.5) (0.5)
Dividends paid 22 (55.9) (43.4) (70.3)
Net cash flows from financing activities   (89.4) (52.7) (92.1) 
         
Total net movement in cash and cash equivalents   (4.6) (1.8) (13.4)
         
Cash and cash equivalents at beginning of period   154.6 168.0 168.0
Total net movement in cash and cash equivalents   (4.6) (1.8) (13.4)
         
Cash and cash equivalents at end of period 17 150.0 166.2 154.6

The accompanying notes to the Condensed Consolidated Financial Statements were provided in the 2018 Interim results announcement.