Slide 1: Generali ESG Presentation 2019
Generali ESG Presentation 2019
Slide 2: Agenda
Agenda ▪ BUSINESS OVERVIEW ▪ Generali 2021 new strategy ▪ Sustainability journey and governance ▪ Generali for the environment and climate ▪ Sustainability goals in Generali 2021 ▪ Responsible Investments and Active Ownership ▪ Life-time partner ▪ Cyber Security ▪ The Human Capital ▪ Governance & Co
Slide 3: Generali Group: one of the world's leading insurers
Generali Group: one of the world’s leading insurers GROSS WRITTEN PREMIUM Operating in more than 100 countries +4.9% € 66,691 million of which € 12,420.4 million premiums from social and environmental products OUR PEOPLE OUR DISTRIBUTORS -0.8% 70,734 38.5% Board gender quota 155 thousand 92% local a
Slide 4: Generali's purpose, new 2021 strategy & sustainability summary
Generali’s purpose, new 2021 strategy & sustainability summary Business Overview & 2021 targets Sustainability and governance BUSINESS PURPOSE 2021 Responsible Business The Human Safety Net & Climate Strategy To enable people to shape a safer future by caring for their lives and dreams Responsible I
Slide 5: Generali 2021 new strategy
▪ Business Overview ▪ GENERALI 2021 NEW STRATEGY ▪ Sustainability journey and governance ▪ Generali for the environment and climate ▪ Sustainability goals in Generali 2021 ▪ Responsible Investments and Active Ownership ▪ Life-time partner ▪ Cyber Security ▪ The Human Capital ▪ Governance & Complianc
Slide 6: Generali 2021: strategic pillars and financial targets
Generali 2021: strategic pillars and financial targets STRATEGY PILLARS FINANCIAL TARGETS PROFITABLE GROWTH ▪ Strengthen leadership in Europe 6%-8% ▪ Focus on high potential insurance markets GROWING EARNINGS EPS CAGR RANGE1 ▪ Develop a global Asset Management platform PER SHARE 2018-2021 CAPITAL MA
Slide 7: Sustainability journey and governance
▪ Business Overview ▪ Generali 2021 new strategy ▪ SUSTAINABILITY JOURNEY AND GOVERNANCE ▪ Generali for the environment and climate ▪ Sustainability goals in Generali 2021 ▪ Responsible Investments and Active Ownership ▪ Life-time partner ▪ Cyber Security ▪ The Human Capital ▪ Governance & Complianc
Slide 8: Our Sustainability journey: creating value in the long term
Our Sustainability journey: creating value in the long term STRATEGY PILLARS SHARED VALUE CREATION PROFITABLE GROWTH ▪ Strengthen leadership in Europe ▪ Focus on high potential insurance markets ▪ Develop a global Asset Management platform Strategic CAPITAL MANAGEMENT AND FINANCIAL OPTIMIZATION ▪ In
Slide 9: Our Governance: the Board
Our Governance: the Board Independent Shareholders’ Board of Statutory Auditors Meeting Auditors Board Risk and BOARD IN CHARGE of Directors Control Committee Remuneration ▪ 13 members, 2 elected and from the minority slate Appointments Committee Governance Social and ▪ 61.5% independence Environmen
Slide 10: Our Governance: the Management Sustainability Committee
Our Governance: the Management Sustainability Committee MANAGEMENT SUSTAINABILITY COMMITTEE Members ▪ Group Investments, Asset and Wealth Management CEO ▪ General Manager ▪ Group Chief Financial Officer ▪ Group Chief HR and Organization Officer ▪ Group Chief Risk Officer (Member) ▪ Group Communicati
Slide 11: Our rules for running business with integrity
Our rules for running business with integrity To enable people to shape a safer future by caring for their lives and dreams Sustainability Group Policy Generali Diversity Policy Group Code for Members of Conduct Group Policy of the Corporate for the Bodies Environment and Climate Ethical code for su
Slide 12: Our approach to sustainability
Our approach to sustainability SUSTAINABILITY FRAMEWORK SUSTAINABILITY ▪ Cascade GROUP ▪ Communicate POLICY SUSTAINABILITY ACTIVITIES, GOALS AND KPI IMPLEMENTATION MATERIALITY STAKEHOLDERS MATRIX ▪ Implementing stakeholder feedback ▪ Focusing SUSTAINABILITY on material MONITORING ESG issues AND REPO
Slide 13: Generali for the environment and climate
▪ Business Overview ▪ Generali 2021 new strategy ▪ Sustainability journey and governance ▪ GENERALI FOR THE ENVIRONMENT AND CLIMATE ▪ Sustainability goals in Generali 2021 ▪ Responsible Investments and Active Ownership ▪ Life-time partner ▪ Cyber Security ▪ The Human Capital ▪ Governance & Complianc
Slide 14: Climate Change roadmap at a glance
Climate Change roadmap at a glance INDIRECT IMPACTS DIRECT IMPACTS Investment Insurance Partnerships Target People Measurement achievement training Green Suppliers, joint plan Divest Invest Engage Underwriting products ventures PUBLIC COMMITMENT Policies and guidelines External initiatives & network
Slide 15: Generali commitments on Climate Change
Generali commitments on Climate Change DIRECT IMPACTS ROADMAP TO TARGET ▪ Reduce our greenhouse gas emissions by 20% ▪ In 2018: 107,394 tCO2e (-13.8% vs 2013) by 2020 (base year 2013) ▪ Space optimization ▪ Travel policy ▪ 100% green electricity (88% in 2018) INDIRECT IMPACTS CLIMATE STRATEGY ▪ € 4.
Slide 16: Taking action on climate change: Generali strategy under different scenarios
Taking action on climate change: Generali strategy under different scenarios <2°C +4° < +2° Global warming by 2100 Increasing losses due to higher frequency/severity of natural catastrophes Inadequacy of actuarial models: historical data unlikely to be a good predictor of future risks PHYSICAL Un-in
Slide 17: Generali Insurance-Linked Securities (ILS)
Generali Insurance-Linked Securities (ILS) Strategic solutions to achieve finance needs € 190 million € 255 million € 200 million Lion I Re Limited Horse I DAC Lion II Re DAC Europe Windstorm Europe Motor Third Europe Windstorm, Party Liability Italy Earthquake, Europe Flood APRIL 2014 DECEMBER 2016
Slide 18: ESG features in the new revolving credit facilities (RCF)
ESG features in the new revolving credit facilities (RCF) The first Sustainable RCF subscribed by an Italian financial institution GLOBAL AMOUNT DURATION COORDINATOR LINKED TO Green € 2 billion 3 years Unicredit New green bonds investments according to the Climate Change strategy Sustainable € 2 bil
Slide 19: Sustainability goals in Generali 2021
▪ Business Overview ▪ Generali 2021 new strategy ▪ Sustainability journey and governance ▪ Generali for the environment and climate ▪ SUSTAINABILITY GOALS IN GENERALI 2021 ▪ Responsible Investments and Active Ownership ▪ Life-time partner ▪ Cyber Security ▪ The Human Capital ▪ Governance & Complianc
Slide 20: A strong commitment on Sustainability in the new strategic plan
A strong commitment on Sustainability in the new strategic plan: Generali 2021 PROFITABLE GROWTH ▪ Strengthen leadership in Europe ▪ Focus on high potential insurance markets ▪ Develop a global Asset Management platform CAPITAL MANAGEMENT AND FINANCIAL OPTIMIZATION ▪ Increase capital generation ▪ En
Slide 21: Main Generali 2021 targets for responsible business
Main Generali 2021 targets for responsible business MAIN TARGETS FOR RESPONSIBLE BUSINESS +7-9% GREEN 10.6% of P&C GDWP SOCIAL 17.4% of Total GDWP GWP GROWTH IN GREEN AND SOCIAL PRODUCTS Total GWP FY 2018 from Green Products: € 1,769.2 million Total GWP FY 2018 from Social Products: € 10,651.2 milli
Slide 22: Initiatives with strong sustainability footprint and positive impact on the business
Initiatives with strong sustainability footprint and positive impact on the business Business Social Value Value SHARED VALUE SUSTAINABLE OFFER SUSTAINABLE BRANDING 1 Responsible 2 EnterPrize(SMEs) Consumers(Products) 100% 100% Business Community RESPONSIBLE CONSUMERS ENTERPRIZE ▪ Distinctive offer
Slide 23: Responsible Investments and Active Ownership
▪ Business Overview ▪ Generali 2021 new strategy ▪ Sustainability journey and governance ▪ Generali for the environment and climate ▪ Sustainability goals in Generali 2021 ▪ RESPONSIBLE INVESTMENTS AND ACTIVE OWNERSHIP ▪ Life-time partner ▪ Cyber Security ▪ The Human Capital ▪ Governance & Complianc
Slide 24: Responsible Investments activities
Responsible Investments activities ▪ Controversial weapons ▪ Coal and severe environmental damage Exclusions applied ▪ Human rights violations to € 289 billion ▪ Gross corruption ▪ 2 SRI funds: SRI European Equity, SRI Ageing Population SRI funds ▪ 3 SRI mandates ▪ ESG is a consideration within voti
Slide 25: SRI Funds product offering & Sycomore Asset Management
SRI Funds product offering & Sycomore Asset Management ▪ Generali Investments, the main asset management arm of Generali Group, ▪ Generali’s acquisition of a majority stake in leverages its established SRI expertise to provide a range of investment Sycomore Asset Management finalised in February sol
Slide 26: Active ownership: Proxy Voting and Engagement
Active ownership: Proxy Voting and Engagement PROXY VOTING ENGAGEMENT PROVIDING VOTING RECOMMENDATION PLANNING ▪ We perform independent analysis to determine the most suitable voting ▪ Based on inputs from the Group Engagement Committee, decision, according to the relevant voting policy we define en
Slide 27: Life-time partner
▪ Business Overview ▪ Generali 2021 new strategy ▪ Sustainability journey and governance ▪ Generali for the environment and climate ▪ Sustainability goals in Generali 2021 ▪ Responsible Investments and Active Ownership ▪ LIFE-TIME PARTNER ▪ Cyber Security ▪ The Human Capital ▪ Governance & Complianc
Slide 28: Generali to become a Life-time partner for its 61 million Customers
Generali to become a Life-time partner for its 61 million Customers WE WANT TO BE A LIFE-TIME PARTNER TO OUR CUSTOMERS The purpose “be a life-time partner” starts with our 155,000 agents who are at the core of this transformation. Thanks to data and technology, our agents will personalize and tailor
Slide 29: We'll continue to listen and act on customer feedback
We’ll continue to listen and act on customer feedback and deliver service improvements across all touchpoints LISTEN AND ACT 1,028 ACTIONS IMPROVEMENT 20% PROMOTERS INCREASE IN 24% DETRACTORS DECREASE IN PURCHASE (%) IMPROVEMENT CLAIMS (%) IMPROVEMENT 17.6 +13% ▪ ▪ Speed Payment process +19% ▪ Statu
Slide 30: Digital Capabilities
Digital Capabilities CONSOLIDATED Mobile and Web Hub Agent Hub Groupwide consistent web and mobile experience for our customers and agents Jeniot The Italian telematic platform at the next level to better serve group connected insurance scenario Robotic Process Automation Groupwide program to accele
Slide 31: Generali started the innovation journey creating an ecosystem of innovation partners
Generali started the innovation journey years ago by progressively creating an ecosystem of innovation partners Selected initiatives ▪ Founding Partner of Munich InsurTech Hub (4 years commitment) ▪ Privileged access to a global ecosystem of InsurTech StartUps ▪ Early stage (“scale up”) focus PROCES
Slide 32: Cyber Security
▪ Business Overview ▪ Generali 2021 new strategy ▪ Sustainability journey and governance ▪ Generali for the environment and climate ▪ Sustainability goals in Generali 2021 ▪ Responsible Investments and Active Ownership ▪ Life-time partner ▪ CYBER SECURITY ▪ The Human Capital ▪ Governance & Complianc
Slide 33: Cyber: our strategy to enhance the security posture of the Group
Cyber: our strategy is to develop solutions to enhance the security posture of the Group on 4 key dimensions BUSINESS INITIATIVES ENABLEMENT NEW CYBER THREATS be prepared for new cyber threats be resilient to security incidents affecting new digital technology if cyber attack exploits vulnerabilitie
Slide 34: Increased protection and measures to cover different areas
Increased protection and measures to cover different areas: technical controls, compliance, risks, awareness and governace SECURITY AWARENESS MONITORING AND GUIDELINES, POLICY, THREATS DETECTION SOCIAL ENGINEERING STANDARD AND AND SECURITY GDPR CYBER FOR INTERNAL SECURITY MINIMM INCIDENT MANAGEMENT
Slide 35: The Human Capital
▪ Business Overview ▪ Generali 2021 new strategy ▪ Sustainability journey and governance ▪ Generali for the environment and climate ▪ Sustainability goals in Generali 2021 ▪ Responsible Investments and Active Ownership ▪ Life-time partner ▪ Cyber Security ▪ THE HUMAN CAPITAL ▪ Governance & Complianc
Slide 36: Our People are always at the heart of our Strategy
Our People are always at the heart of our Strategy OUR THE GENERALI OUR PEOPLE PEOPLE STRATEGY PRIORITIES 70,734 employees ▪ Is part of the Business Strategy 1 Promoting Engagement (-0.8%) and enables our transformation and Empowerment towards a Simpler, Smarter Generali. Faster 2 Strengthen our Lea
Slide 37: 2018 key initiatives in coherence with Group People Strategy (1/2)
In 2018, we continued delivering on key initiatives in coherence with 2015-2018 Group People Strategy (1/2) ILLUSTRATIVE GROUP PEOPLE STRATEGY PRIORITY INITIATIVE KEY HIGHLIGHTS Global Engagement Survey 86% 80% 1 GROUP RESPONSE GROUP ENGAGEMENT In June 2017 we carried out the 2 nd Generali RATE SCOR
Slide 38: 2018 key initiatives in coherence with Group People Strategy (2/2)
In 2018, we continued delivering on key initiatives in coherence with 2015-2018 Group People Strategy (2/2) ILLUSTRATIVE GROUP PEOPLE STRATEGY PRIORITY INITIATIVE KEY HIGHLIGHTS Global Leadership Programs Global mentoring The third edition of the program was launched in October 2018 and involved 82
Slide 39: Diversity & Inclusion in Generali
Diversity & Inclusion in Generali Global and local - Ambitions and action plans Best D&I employer GROUP AMBITIONS GROUP ACTION PLAN 2017 - 2021 ▪ Women leadership acceleration programs ▪ Accelerate with concrete actions the presence of women Gender ▪ Mentorship programs in senior leadership position
Slide 40: Governance & Compliance
▪ Business Overview ▪ Generali 2021 new strategy ▪ Sustainability journey and governance ▪ Generali for the environment and climate ▪ Sustainability goals in Generali 2021 ▪ Responsible Investments and Active Ownership ▪ Life-time partner ▪ Cyber Security ▪ The Human Capital ▪ GOVERNANCE & COMPLIANC
Slide 41: Our values within the Code of Conduct
Our values within the Code of Conduct The "Code of Conduct" sets minimum standards of behaviour that all of us, as part of Generali, have to follow in the relationships with colleagues, customers, shareholders, suppliers and the other stakeholders GROUP RULES ▪ The Generali Group is focused on maint
Slide 42: Internal Control Framework & Risk Management
Internal Control Framework & Risk Management The set of company rules, procedures and structures that ensure the effective operation of the Company and enable it to identify, manage and monitor the main risks to which it is exposed INTERNAL CONTROL FRAMEWORK 3° level controls Internal Group entities
Slide 43: Compliance Management System
Compliance Management System Regulatory (risk) identification and impact analysis Risk Assessments ▪ Ongoing regulatory analysis ▪ Top Down view (overall) ▪ Documented identification of the processes and ▪ Bottom-Up view (process) roles impacted by the regulations – stored in the ▪ Aimed at: GRC - I
Slide 44: Tax and transparency
Tax and transparency Our approach to tax compliance ▪ Generali has implemented a Tax Control Framework in order to identify, measure, manage and control the tax risk with respect to its Italian operations At Generali ▪ Generali is committed to the principles of ▪ We aim to ensure that all our tax af
Slide 45: The Human Safety Net
▪ Business Overview ▪ Generali 2021 new strategy ▪ Sustainability journey and governance ▪ Generali for the environment and climate ▪ Sustainability goals in Generali 2021 ▪ Responsible Investments and Active Ownership ▪ Life-time partner ▪ Cyber Security ▪ The Human Capital ▪ Governance & Complianc
Slide 46: The Human Safety Net
The Human Safety Net Goals FOR FAMILIES FOR REFUGEE START-UPS FOR NEWBORNS for First 6 years are the most formative years of childhood 250 million children worldwide risk of remaining behind fo the rest of their lives 2.3m refugees have arrived Nearly a million of babies affected by asphyxia each ye
Slide 47: The Human Safety Net
The Human Safety Net GERMANY POLAND SERBIA For Refugee Start-Ups For Newborns For Families For Families CZECH REP SLOVAKIA SWITZERLAND For Newborns For Families For Refugee Start-Ups For Families AUSTRIA HUNGARY For Families For Newborns FRANCE INDIA For Refugee Start-Ups For Families SLOVENIA ROMAN
Slide 48: Annex
Annex 48
Slide 49: Our sustainability priorities
Our sustainability priorities Generali Materiality Matrix OUR SUSTAINABILITY PRIORITIES 1 Governance 2 Economic performance 3 Regulatory compliance 4 Quality of customer experience 5 Demographic and social change 6 Business innovation for the digital customer 7 Climate change and natural disasters 8
Slide 50: Our Policies and Codes
Our Policies and Codes Running a sustainable business, The Sustainability Group Policy The "Code of Conduct" sets The Group Policy for the pursuing excellence in our internal define the process, the roles and the minimum standards of behavior that Environment and Climate reiterates processes, and li
Slide 51: Our Policies and Codes
Our Policies and Codes The Responsible Investment Guideline The Responsible Underwriting Group The Ethical Code for suppliers of the Group outline the principles to which the Group shall Guideline outline the principles and rules Generali outlines the general principles that adhere to ensure the ado
Slide 52: Our Shareholder structure
Our Shareholder structure HIGHLIGHTS ON SHAREHOLDERS STRUCTURE1 SPLIT BETWEEN ITALIAN AND FOREIGN SHAREHOLDERS 1. Update as of May 20, 2019 52
Slide 53: The Board Committees and the GMC
The Board Committees and the GMC Mandatory Committees by the Other Corporate Governance Code or Italian Voluntary Committees legislation Related Party Corporate Governance, Investments Strategic Operations Risk & Control Appointments Committee Committee Transactions Social and Environmental Committe
Slide 54: Our Board of Directors (2/2)
Our Board of Directors (2/2) Insurance Experience 77% Financial and Accounting Skills 77% Knowledge of legal context and regulatory requirements 62% SKILLS, Industrial/Manufacturing Experience 62% EXPERTISE AND Managerial Experience 62% BACKGROUND International Experience 62% Experience in Large Cap
Slide 55: Remuneration: Approach & Metrics
Remuneration: Approach & Metrics Approach FIXED (22%) VARIABLE (78%) (CEO target) Base Salary + ANNUAL SHORT-TERM INCENTIVE (29%) + LONG-TERM INCENTIVE (71%) (yearly basis) (multi-year basis) PERSPECTIVES Short-term metrics Economic and Financial Risk +50% ▪ Core business Key Performance Indicators
Slide 56: Simplicity & Innovation combined with Empathy & Care throughout the customer journey
Simplicity & Innovation combined with Empathy & Care throughout the entire customer journey CUSTOMER NEEDS GENERALI 2021 SIMPLICITY / INNOVATION § Simple propositions PROTECTION, PREVENTION that fit my SEAMLESSLY CONNECTED lifestyle AND ASSISTANCE ▪ Real time data and updates on mobile-hub ▪ Bundlin
Slide 57: Contacts
Contacts Assicurazioni Generali Lucia Silva Michele Amendolagine Piazza Duca degli Abruzzi 2 Group Head of Sustainability and Social Responsibility Head of Shareholder & Governance 34132 Trieste, Italy Fax: +39 040 671338 lucia.silva@generali.com michele.amendolagine@generali.com ir@generali.com +39
Slide 58: Disclaimer
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 qualify
Slide 59: Thank you.
Thank you. ©9000 @