Assicurazioni Generali S.p.a. · MIL:G
Assicurazioni Generali — ESG Presentation (2021)
33 slides from Assicurazioni Generali's sustainability presentation, Dec 23, 2021
Slide 1: Generali ESG Presentation 2021
0 Generali ESG Presentation 2021
Slide 2: Generali ESG presentation 2021
1 Generali ESG presentation 2021 Sustainability & Governance Business Overview & Key 2020 Figures 2021 Sustainability Goals & Climate Strategy Sustainability Bond Framework Green & Social Products Responsible Investments Lifetime Partner & Digital Assets Diversity & Inclusion The Human Safety Net
Slide 3: The path to Generali's sustainable business transformation
2 The path to Generali's sustainable business transformation OUR PURPOSE To enable people to shape a safer future by caring for their lives and dreams OUR SUSTAINABILITY Pursuing long-term growth, integrating sustainability into our core business AMBITION and acting as Lifetime Partner to our stakeh
Slide 4: Sustainable business transformation: our journey to create value in the long term
3 Sustainable business transformation: our journey to create value in the long term SHARED VALUE CREATION INTEGRATING SUSTAINABILITY IN THE CORE BUSINESS 2021 2020 Sustainability as an originator 2019 Climate-related for Generali 2018 Financial Business 2017 Sustainability Disclosure Strategy 2014 S
Slide 5: Our solid foundations to integrate sustainability into the core activities
4 Our solid foundations to integrate sustainability into the core activities SUSTAINABILITY Foundations Engagement Integrated Control with our Governance Remuneration Reporting functions stakeholders Stakeholders’ engagement Our integrated Governance is Sustainability is part of Integrated Reporting
Slide 6: The Materiality assessment: our priorities to keep transforming our business
5 The Materiality assessment: our priorities to keep transforming our business in a sustainable way ▪ In November 2020 the Board of Directors approved the Group materiality assessment, identifying the relevant Environmental, Social and Governance (ESG) megatrends* that the Group needs to manage prop
Slide 7: Integrated governance driving sustainability at all organisational levels
6 Integrated governance driving sustainability at all organisational levels BODIES KEY CHARACTERISTICS ▪ 61.5% independent board members BOARD OF DIRECTORS ▪ 38.4% female representation ▪ Chair: Non-Executive Non-CEO BOARD CORPORATE GOVERNANCE ▪ Chaired by the Chairman of the Generali Board of Direc
Slide 8: Sustainability fully integrated into remuneration
7 Sustainability fully integrated into remuneration Generali integrates its sustainability strategic objectives into remuneration, through a short-term annual incentive linked to sustainability goals and a long-term incentive plan factoring in ESG ratings. Short-term Incentive & internal sustainabil
Slide 9: Disclosure and Transparency … and assured
8 Disclosure and Transparency Our sustainable value creation story is moving forward on the basis of Integrated Thinking. It started in 2013, when the first integrated report was published, and then developed using the Core&More reporting approach. CORE Financial and non- MORE Financial and non-fina
Slide 10: Sustainability integration brings tangible progress in all areas
9 Sustainability integration brings tangible progress in all areas Net-Zero Asset Owner Alliance € 41.5 billion member since 2020 € 6.0 billion investments with dedicated ESG of new green and sustainable mandates and funds 1,487 AGMs investments as of FY 2020 90% ofremote employees in working attend
Slide 11: Generali's key sustainability data trends
10 Generali’s key sustainability data trends Green & Social Products ESG Investing Sustainable Investments Portfolio Carbon Footprint Green product premiums + social Investments with dedicated New green and sustainable Net-Zero Asset Owner Alliance product premiums (€ bn) ESG mandates and funds (€ b
Slide 12: Sustainability strategy goals and public commitments
11 Sustainability strategy goals and public commitments GENERALI 2021 STRATEGY 2021 strategy goals aligned with the Charter of Sustainability Commitments: Sustainability KPIs: ▪ Flagship projects : − + € 8.5 – € 9.5 billion of new green and sustainable investments between 2021-2025 − Responsible Con
Slide 13: Actions & targets on climate change and the green transition
12 Actions & targets on climate change and the green transition Resilience to Climate Change: Targets Life-business amounts to 2/3 of total written premiums with a focus on lower risk geographies GRADUAL Physical 89.1% Combined Ratio in P&C Segment, the lowest and least volatile among peers DIVESTME
Slide 14: 2021 launch of Generali's Sustainability Bond Framework
13 2021 launch of Generali’s Sustainability Bond Framework An umbrella Framework that will allow Generali to issue 3 types of bonds: Green, Social & Sustainable bonds The Framework allows issuance of three types of bonds: ▪ Building upon our Green Bond Framework, the Green and Social Bond 1. Green B
Slide 15: Main features of the Green Insurance Linked Securities (ILS) Framework
14 Main features of the Green Insurance Linked Securities (ILS) Framework ▪ Integrating sustainability principles into alternative mechanisms for the transfer of insurance risk to institutional investors ▪ Further enhancing Generali’s ability to support green projects, including insurance products,
Slide 16: Becoming a Lifetime partner for Responsible Consumers
15 Becoming a Lifetime partner for Responsible Consumers THE RESPONSIBLE CONSUMER ECOSYSTEM GREEN RESPONSIBLE SOCIAL 0.6% 0.4% CONSUMER 7.3% Pollution 73.4% Other Products SUSTAINABLE GREEN Products aimed promoting INVESTMENT & SOCIAL at targeted SOLUTIONS PRODUCTS responsible clients/ € 1.6 € 16.9
Slide 17: Clear commitments taken on Investments
16 Clear commitments taken on Investments OUR CONVICTION ON RESPONSIBLE INVESTMENTS (RI) INITIATIVES ON RESPONSIBLE INVESTMENTS SUPPORTED Proactive integration of Environmental, Social and UN Principles for Responsible Investing 2011 Governance (ESG) factors into the investment process, across all a
Slide 18: Comprehensive ESG coverage of our investments
17 Comprehensive ESG coverage of our investments Weight ACTIVE OWNERSHIP of ESG in Investment ▪ Encouraging ESG practices in investee companies decisions ▪ Voting at AGM (1,487 meetings attended and 19,731 resolutions in 2020) ▪ Dialogue with investee companies on ESG topics, targeting 20 carbon-int
Slide 19: Fenice 190: supporting the relaunch of the European economy
18 Fenice 190: supporting the relaunch of the European economy, with sustainability at the core ▪ Flagship investment program to mark Generali’s 190th anniversary, with overall commitment of € 3.5 billion over five years to support the European economy following the Covid-19 pandemic, of which € 1 b
Slide 20: Lifetime Partner & digital assets
19 Lifetime Partner & digital assets Lifetime Partner Lifetime Partner is the 2021 Generali overarching strategy for continued business growth, for transitioning to a digitalised economy, and for meeting customer needs. € 1.1 billion & Digitalisation CUMULATIVE INVESTMENTS IN DIGITAL To achieve the
Slide 21: Human Capital Management – Our People Strategy
20 Human Capital Management – Our People Strategy OUR PEOPLE +1% vs 2019 WOMEN MEN 72,644 51% 49% PEOPLE STRATEGY PRIORITIES 2019 Engagement 82% Engagement 75% Initiatives Global Engagement Survey Score Implemented 1 Foster a customer-centric, inclusive & open culture1 Diversity & Inclusion Strategy
Slide 22: Diversity & Inclusion
21 Diversity & Inclusion Key 2020 Gender DIVERSITY AND Balance and Pay 106% 2024 TARGET: 40% WOMEN IN + 25 pps INCLUSION INDEX Equity Figures LEADERSHIP POSITIONS at Group level: Generali’s internal Diversity and Inclusion Index measures the Group’s progress on 8 KPIs versus 2021 internal goals. EQU
Slide 23: The Human Safety Net, Generali's initiative for the community
22 The Human Safety Net, Generali’s initiative for the community Its mission is to unlock the potential of people living in vulnerable circumstances, so that they can transform the lives of their families and communities. • Supports families with young children and refugee integration through work.
Slide 24: Annex
23 Annex
Slide 25: Our Governance: BoD, Committees and GMC
24 Our Governance: BoD, Committees and GMC BOARD IN CHARGE Independent Shareholders’ Board of Statutory ▪ 13 members, 2 elected Auditors Meeting Auditors from the minority slate ▪ 61.5% independence Board Risk and ▪ 38.5% gender quota of Directors Control Committee ▪ Average Age: 59.4 Remuneration a
Slide 26: Our Governance: Skills and expertise of our BoD
25 Our Governance: Skills and expertise of our BoD Insurance Experience 85% Financial and Accounting Skills 85% Regulation Framework & regulatory requirements 85% Managerial Experience 77% International Experience 69% Experience in Large Cap Companies 31% Academic Experience 23% Entrepreneurial Expe
Slide 27: Generali 2021: green products
26 Generali 2021: green products Promote responsible behaviour with positive impact on the environment and reduce environmental impact Mobility 0.6% • Products for Green vehicles (electric and hybrid vehicles): 0.4% Pollution Other • Products rewarding environmentally-friendly driving behavior (e.g.
Slide 28: Generali 2021: social products
27 Generali 2021: social products ✓ Promote responsible behaviour with positive impact on people and Health products ✓ Protect specific categories of people (i.e young families, children, the elderly) Products aimed at targeted clients/events: 73.4% 7.3% • Products strengthening social inclusion by
Slide 29: 2021 Group catastrophe reinsurance protection
28 2021 Group catastrophe reinsurance protection Retention Reinsurance Cat Bond ▪ Level of risk retention strategically set in line with the geographical footprint Aggregate ▪ Similarly, protection in each territory designed in line with the geographical footprint; however minimum coverage requireme
Slide 30: ESG features in the new revolving credit facilities (RCF)
29 ESG features in the new revolving credit facilities (RCF) Green & Sustainable RCF negotiated with international banks GLOBAL AMOUNT& YEAR DURATION COORDINATOR LINKED TO Green and sustainable Eur 2 bn, 2021 3+1+1+ years Unicredit New green and sustainable bonds investments according to the Climate
Slide 31: Contacts
30 Contacts Assicurazioni Generali Lucia Silva Michele Amendolagine Group Head of Sustainability and Head of Shareholder & Governance Piazza Duca degli Abruzzi 2 Social Responsibility 34132 Trieste, Italy csr@generali.com michele.amendolagine@generali.com Fax: +39 040 671338 e-mail: ir@generali.com
Slide 32: Disclaimer
31 Disclaimer www.generali.com www.generali-invest.com Certain of the statements contained herein are statements of future expectations and other forward- GIS SRI European Equity and GIS SRI Ageing Population are sub-funds of Generali Investments looking statements. SICAV, an investment company qual
Slide 33: Generali ESG Presentation 2021
32 Generali ESG Presentation 2021