Statements of cash flows for the year ended 31 December 2016 2016 2015
Notes Group
$m
Company
$m
Group
$m
Company
$m
Cash flow from operating activities          
Profit before income tax   293.2 18.2 284.0 -
Adjustments for:          
Amortisation of intangibles 12 5.3 - 5.0 -
Equity settled share based compensation 22 23.0 22.5 17.5 -
Net fair value (gain)/loss on financial assets   (28.9) - 3.0 -
Share of loss in associates 14 0.2 - 0.5 -
Depreciation of plant and equipment 13 1.8 - 2.1 -
Impairment of reinsurance assets written back 6 (1.1) - - -
Increase in insurance and other liabilities   72.4 0.6 235.7 -
Increase in insurance, reinsurance and other receivables   (59.3) (13.0) (203.5) -
Increase in deferred acquisition costs   (16.6) - (3.5) -
Financial income 4 (71.5) (23.9) (70.8) -
Financial expense 8 15.2 0.8 15.3 -
Income tax paid   (39.8) - (89.8) -
Net cash from operating activities   193.9 5.2 195.5 -
Cash flow from investing activities          
Purchase of plant and equipment 13 (2.9) - (2.5) -
Expenditure on software development 12 (4.7) - (5.0) -
Purchase of investments   (5,985.4) - (3,659.7) -
Proceeds from sale of investments   5,666.0 - 3,892.2 -
Investment in associate 14 (0.1) - - -
Acquisition of renewal rights 12 (8.0) - - -
Interest and dividends received 4 71.5 23.9 70.8 -
Net cash (used in)/from investing activities   (263.6) 23.9 295.8 -
Cash flow from financing activities          
Acquisition of own shares in trust 22 (9.7) (4.6) (3.9) -
Repayment of borrowings 25 (107.1) - - -
Proceeds from debt issue 25 248.7 - - -
Interest paid   (15.2) (0.8) (15.3) -
Dividends paid   (212.2) (23.9) (164.2) -
Net cash used in financing activities   (95.5) (29.3) (183.4) -
Net (decrease)/increase in cash and cash equivalents   (165.2) (0.2) 307.9 -
Cash and cash equivalents at beginning of year   676.9 - 364.2 -
Effect of exchange rate changes on cash and cash equivalents   (4.5) 0.2 4.8 -
Cash and cash equivalents at end of year 20 507.2 - 676.9 -

The notes form part of these financial statements.