Equity-based incentives Distributions by EBT Changes in operating reinsurance assets and liabilities Distributions by EBT, classified as financing activities Net investment income Adjustments for net unrealised (gains) losses on investments Proceeds on sales and maturities of investments Net reinsurance and financial result Changes in other operational assets and liabilities Net investment result Net realised losses on investments Adjustment for equity-based incentive expense Accrued interest receivable Reinsurance service expenses Write-off of intangible asset Purchase of investments Adjustments for net realised losses on investments Net unrealised (gain) loss on investments Investments Reinsurance Revenue