Press Kit - Amazon Web Services · Press Kit generali.com APRIL 2017. Generali Group 2 at a glance...

Press Kit

generali.com

APRIL 2017

2

Generali Group at a glance

One of the leading insurers in the world

one of the world’s50 largestcompanies**

74,000employees

more than 60 countries in the world

70 billion Euroin premiums (2016)over 66% from outside Italy

530 billion Euroof AUM

* MIT Technology Review** Fortune Global 500

Among the 50 smartest companies in the world*

55 millioncustomers

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Generali Group at a glance

Through Generali Employee Benefits, the Group operates in more than 100 countries

Insurance operations of Generali GroupBranches: New York, United Kingdom, Hong Kong, Tokyo, Dubai, PanamaOther countries in which Europ Assistance operates

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The Core Insurance business

An extensive line of products in the Life and Property & Casualty segments to meet all the clients’ needs.

In the Life segment, its offer ranges from savings and family protection policies to unit-linked policies and complex plans for multinationals.In the P&C segment, the well-balanced portfolio goes from mass-market coverage such as Car, Home, Accident &Health, to sophisticated commercial and industrial risk coverage. The Group is committed to achieving the optimal client segmentation and enhancing product innovation in order to deliver a targeted approach to clients. Generali aims to be best-in-class for client retention and satisfaction.

Generali relies on innovation as a key driver for future growth. Innovation allows for more tailored solutions and quicker product development. Through innovation, Generali will achieve product excellence.In the Life segment, every new product is approved ex-ante by the Group’s Head Office. Products are assessed periodically to ensure Group’s standards are met.In the P&C segment, Generali is committed to enhancing the performance of the P&C offer, by improving the sophistication of its products and services for a better definition of clients’ profiles, and its claims management services.Generali is a leader in the retail segment and it is increasing the contribution of the Commercial business, in which it serves from small to large companies at international level leveraging the Group’s global reach and its strong ties with international brokers.

PRODUCT INNOVATIONLIFE AND P&C

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Distribution

The Generali Group operates in the insurance sector with a multichannel distribution strategy through a global proprietary sales network of agents and financial advisors, supported by brokers, bancassurance and direct channels.

Traditional channels account for most of the Group’s premium collection.Generali relies on agencies, financial advisiors, brokers and other partners to distribute its products and solutions with a view to providing a convenient and excellent service to clients.Generali adopts optimised sales processes to increase sales effectiveness and profitability. In particular, the Group is streamlining the structure with simplified and modern processes tailored to the clients’ needs.

Generali is Europe’s leader in direct channels (internet and telephone) and intends to further improve its position by launching new initiatives in high-growth markets. Leader in Italy, where it created, through

Genertel, the first italian online Life, P&C and Pension insurance portal

Leader in Germany, where it has been present since 1982 through COSMOS Direkt

Leader in France in the online Life insurance segment

First operator in Hungary, where Genertel.hu was launched in 2007

Rapidly growing in Slovakia, where Genertel.sk was launched in 2010, and in Turkey, where the multi-access platform started in 2014

Generali plans to enhance its bancassurance channel by maximising the full potential of the existing partnerships as well as exploring new initiatives. Bancassurance will be key in the Life segment to increase the share of capital-light products and in the P&C segment to boost sales.

TRADITIONAL CHANNELS DIRECT CHANNELS BANCASSURANCE

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From 10 to 3 brands Starting from the end of 2015, only three Group brands operate in Italy.Generali Life and P&C company with a single distribution network made up of more than 1,500 agencies for the retail and middle market business. Dedicated Commercial business unit.Alleanza Company dedicated to Italian families, with its network of direct producers and a range of Life and P&C products.Genertel Life and P&C company on the alternative channels (phone, web and bancassurance), Italy’s market leader in this segment.

PLAN FOR GROWTH

Generali Italia has launched a simplifi-cation programme of its key process-es, which aims to redesign 20 indus-trial processes of the Company within 3 years to offer the best customer experience to clients and agents. A new way of working: 6 Simpli-

fication Labs, new spaces where 400 employees could work to-gether in cross-functional teams to design the new process in 16-20 weeks.

A “simpler, smarter & faster” ap-proach based on the collaboration with clients and agents. The new way of working includes a collab-orative design of new processes and instruments with the active involvement of clients and agents.

In recent yearsItaly1994Genertel roll-out, first online insurance provider in Italy

2006Toro take-over

2012-13Announcement of the new plan for growth. Launch of Generali Italia following the incorporation of the Group’s main insurance activities and shareholdings in Italy

2000Ina Assitalia take-over

1998Banca Generali is founded

Market’s leading insurer

3,200 agents, more than 14,500 subagents and employed producers,more than 21,000 independent producers and self-employed agency professionals. Networks supported by 1,500 financial advisors

€ 23.6 bln premium income in 2016

9.3 mln customers

Leading player in direct channels

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Germany1837Start operating

2013Squeeze-out of the minority shareholdings in Generali Deutschland Holding

2015Launch of a strategicrepositioning in the market

2009Establishment of Generali Deutschland to control all the German businesses. Merger between Generali Versicherungen and Volksfürsorge completed

1998AMB Group take-over

Main companies Generali Deutschland AGp Generali Versicherungenp AachenMünchenerx CosmosDirekt

pCOMPANY OPERATING IN BOTH LIFE AND NON-LIFE SEGMENTSCOMPANY OPERATING MOSTLY IN NON-LIFE SEGMENTCOMPANY OPERATING MOSTLY IN LIFE SEGMENTHOLDINGxDIRECT CHANNELSASSISTANCE SERVICES

In recent years

Partnership with the largest financial advisory network in Germany - DVAG - with more than

3,400 regional and branch offices

3,100 agents. Network supported by over 15,000 brokers and multiple agents

Second-largestprimary insurance group in the market

THE STRATEGIC REPOSITIONING ON THE GERMAN MARKET

The aim is to better serve customers leveraging on distribution strength; to offer smarter products with a fo-cus on technologies, and to have a streamlined governance achieving higher efficiency.The pillars of our strategy: Top management close to

customers and sales networks New normal “Life”, realignment

“P&C” Smart insurance Focus on customers; Customised offer in three distribution pillars: Generali Versicherungen, AachenMünchener/DVAG and CosmosDirekt


14.3 mln customers

Leading player in direct channels

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France1832Start operating

2006Merger 20 controlled companies in 2 operating companies: Generali Iard and Generali Vie

2003Continent Holding take-over

1995Establishment of Generali France Holding

Almost 900 agents and 1,700 employed producers, supported by 1,900 financial advisors

Among the leading operators in the market

Main companies Generali France Generali VieGenerali IardEurop Assistance

In recent years



7.7 mln customers

Leading player in internet savings

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CentralEasternEurope

1832Start operating

2015Full control of GPH.Company name changed into Generali CEE Holding

2008Creation of Generali PPF Holding, JV between Generali and PPF Group

1989Expansion plan launched in the area

GENERALI LEADER IN CEE

The Group is an indisputed leader in CEE in terms of profitability, with a combined ratio among the best in the sector.

MARKET RANKING

Czech Republic #2Hungary #2Slovakia #3Poland #6Romania, Bulgaria, Croatia, Slovenia,Montenegro Among Top 10

GENERALI IN CEE - 2007 VS 2016

early 2007 end 2016

Premium income

Clients

Main companies pCeska Pojistovna - Czech Rep.pGenerali Pojistovna - Czech Rep.pGenerali Biztosito - HungaryGenerali Towarzystwo - Poland

1 bln 3.5 bln

4 mln > 10 mln

In recent years


8.9 mln customers


2,000 salaried sales professionals and 9,000 agents

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EMEA region

Global Business Lines & International / 1

Main companies Generali España - SpainpGenerali Seguros - Spain Generali Holding Vienna - AustriapGenerali Versicherung - Austria Generali Schweiz - SwitzerlandGenerali Pan Europe - Ireland

1999Establishment of Generali PanEurope

2006Merger between Generali Schweiz Holding and Albula Verwaltungs und Beteiligungs AG

2009Establishment of Generali España from the merger between Vitalicio and Estrella

1998Estabishment of GeneraliVersicherung from the merger between Generali Leben and Erste Allgemeine in Austria

1995Full take-over of GeneraliEspaña Holding

In recent years


Since May 2016 Global Business Lines & International has been consolidated the existing Global Business Lines unit and three regions: EMEA, Asia and the Americas.

GENERALI LEADER IN AUSTRIA, SWITZERLAND AND SPAIN

The Generali Group is one of the le-ading insurers in Austria, Spain andSwitzerland. In addition to these markets, the EMEA region includesBelgium, Greece, Guernsey, Ireland, Netherlands, Portugal, Tunisia, Tur-key and Dubai.

Operating since 1832


11,300 agentsand 14,800 brokers

7.5 mln customers

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Asia Americas2013Acquisition of full control of Generali Asia, the holding company of the Group’soperations in the Philippines, Thailand and Indonesia

2013Creation of Americas region in line with the strategy to semplify the Group and its governance

CHINA Generali boasts a strong presence in the most important Asian market and is one of the leading foreign JV players. Present in the Life segment since 2002 and in the P&C segment since 2007, Generali operates in China in partnership with China Na-tional Petroleum Corporation (CN-PC). Leveraging its multi-channel distribution, it operates in 10 mu-nicipalities and provinces with over 12,500 agents and more than 1,800 back office staff, supported by ban-cassurance ties. Generali has been selected by the Chinese authorities as a pension plan consultant for for-mer civil service employees.

The Group is one of the largest for-eign insurance operators in Latin America and intends to expand its business further in this attractive mar-ket. Generali has developed a vast range of solutions customized for the needs of local clients, leveraging a significant expertise in the region.In Latin America, the Group oper-ates in 6 markets: Brasil, Argentina, Colombia, Guatemala, Ecuador and Panama. With Generali U.S. Branch, the Group is also active in Northern America, providing a wide range of services and insurance prod-ucts and working closely with the Group’s companies and their inter-national clients.

In recent years In recent years

Main companies Generali China Life Insurance Pt Asuransi Jiwa Generali IndonesiaFuture Generali India Future Generali India Life

Main companies pGenerali Brasil SegurospLa Caja De Ahorro Y Seguro - Argentina


6.5 mln customers

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With the aim of developing the businesses with global outreach, the Group has developed an insurance offering platform unique to the market. Global Business Lines provide access to integrated insurance and assistance solutions to cover the business risks regarding employees and assets linked to property and people, comprising four units: Generali Global Corporate & Commercial, Generali Employee Benefits, Generali Global Health, and Europ Assistance.

GLOBAL CORPORATE & COMMERCIAL

GC&C is the new Generali Group unit that develops the P&C business and insurance services for medium and large companies. The unit acts on a global scale and deploys an integrated approach at Group level with a central management team and specialised teams active in individual countries. Through the new unit, Generali aims to become a key world player in this segment.

GENERALI EMPLOYEE BENEFITS

GEB is the strategic business unit of the Generali Group dealing exclusively with Employee Benefits, offering sophisticated solutions to multinational companies that wish to provide Life, Accident, Disability, Health and Pension cover to their employees. GEB is the global market leader in its business segment with more than 1,500 multinational clients. The GEB network is present in more than 100 countries.

GENERALI GLOBAL HEALTH

Generali Global Health is a Generali Group business unit that offers health insurance solutions that are valid worldwide, dedicated to international companies, organisations and bodies, and expatriate and travelling employees. With particular focus on multinational clients Generali Global Health offers: modular and flexible health products, insurance management with the broadest geographic coverage, a widespread network of hospitals and outpatient care in the major world markets, and personalised and multilingual client service.

EUROP ASSISTANCE

Europ Assistance offers Care services with a focus on innovation. Europ Assistance serves more than 300 million people around the world through 8,000 staff and 44 companies and branches in 33 countries. It is the leading global brand for care services.

Global Business Lines & International / 2

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Key figures /1

GROUP’S KEY FIGURES (€ MLN) 2015 2016

GROSS WRITTEN PREMIUMS 74,165 70,513

OPERATING RESULT 4,785 4,830

NET RESULT OF THE PERIOD 2,030 2,081

SHAREHOLDERS’ EQUITY AT BOOK VALUE 23,565 24,545

2016 GROSS WRITTEN PREMIUMS: € 70 BLN

Asia 4% Italy 39% Italy 34%

Rest of the world

66%

Rest of the world 61%

Americas 2%

Emea 15%

Italy 34%CentralEastern

Europe 5%

International operations 1%

Germany 24% France 15%

PREMIUM INCOME EVOLUTION BY GEOGRAPHIC REGION

2003By area 2016

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Key figures /2

SHARE INFORMATION

GENERALI RATINGS ASSIGNED BY THE PRIMARY AGENCIES

Subscribed and paid-in share capital

€ 1,561,808,262.00Number of shares in issue

1,561,808,262Nominal value per share

€ 12016 dividend*

€ 0.80 per share

AM BEST MOODY’S FITCH

* To be proposed to the Annual General Meeting

Rating financial strength

ARating financial strength

BAA1Rating financial strength

A-Outlook

STABLEOutlook

STABLEOutlook

STABLE

Other institutional and retail investors 80.15%

Mediobanca Group 13.04%

Caltagirone Group 3.65%

Shareholderstructure

Delfin S.a.r.l. (Leonardo del Vecchio Group) 3.16%

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Corporate social responsibility

GENERALI IS INCLUDED IN THE FOLLOWING ETHICAL INDEXES:MSCI Global Sustainability IndicesFTSE4Good NYSE Euronext Vigeo Index World 120 STOXX ESG Leaders Ethibel Sustainability Index Excellence Global, Ethibel Sustainability Index Excellence Europe ECPI Global Ethical EquityGlobal 100 Most Sustainable Corporations in the World

ESG ratingOekom Research Prime CEthibel Pioneer and Excellence Investment Register

Generali contributes towards a healthy, resilient and sustainable society where people can develop and flourish. This is how Generali lives our role as a corporate citizen, creating long-term value for our stakeholders.

2009 Introduction of a Group Environmental Management System that meets ISO 14001 standards

2010 Adoption of the Group Ethical Guidelines for Investments

2011 Issue of the Group Ethical Code for suppliers

2012 Adoption of the new Group Code of Conduct

2013 Approval of the Group Charter of Sustainability Commitments

2014 Approval of the new Group Policy for the Environment and Climate

2015 Approval of the Responsible Investment Guideline

Sustainable and Responsible Investment (SRI)

Over € 30 billion

Funds allocated to the community

Over € 14.6 million

Total greenhouse gas emissions

118,000 t CO2e* -5.6%

* Data refer to the Group Environmental Management System. (base year 2013)

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Generali, the new strategy to become the retail insurance leader in Europe

The Generali Group aims to be recognized as a leader in retail insurance in Europe, consistent with its history, business approach and expertise.

KEY FINANCIAL TARGETS FOR 2018

Dividends*

Fast, lean, agile

Rationalization of cost base to invest in business transformation

Focus on cash generation

Net Free Cash Flow*

Retail leader in Europe

A distinctive brand Stronger relationship with

distributors and customers

Cumulative gross expenses reduction 2017-2018

Simple & Smart

Improving client satisfaction Maximizing efficiency

Total investments*

Leveraging on technology and partnership

Further develop telematics solutions

New partnership to complement current capabilities (e.g. My Drive)

> € 5 bln> € 7 bln € 0,5 bln(€ 1,5 bln since 2012)

€ 1,25 bln

* Cumulative total 2015-2018

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Group management committee

The Group Management Committee is the international committee in charge of defining the Group’s strategic priorities. The Committee aims to improve alignment between the Group’s business units and ensure that decision making is more effective and cohesive.

E. LombardCOUNTRY MANAGER FRANCE

L. CirinàCEE REGIONAL OFFICER

S. PanizzaGROUP CHIEF RISK OFFICER

F. de CourtoisCEO GLOBAL BUSINESS LINES & INTERNATIONAL

L. LubelliGROUP CHIEF

FINANCIAL OFFICER

P. DonnetMANAGING DIRECTOR

AND GROUP CEO

G. LiveraniCOUNTRY MANAGER GERMANY

V. TrevisaniGROUP CHIEF INSURANCE OFFICER

M. SesanaCOUNTRY MANAGER ITALY

T. RyanGROUP CHIEF

INVESTMENT OFFICER

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Corporate governance

BOARD OF AUDITORS

Carolyn DittmeierCHAIR

Lorenzo PozzaPERMANENT AUDITOR

Antonia Di BellaPERMANENT AUDITOR

Francesco Di CarloSUBSTITUTE

Silvia OlivottoSUBSTITUTE

Gabriele Galateri di Genola CHAIR

Francesco Gaetano Caltagirone VICE-CHAIR **

Clemente Rebecchini VICE-CHAIR

Philippe Donnet MANAGING DIRECTOR AND GROUP CEO

Romolo Bardin BOARD MEMBER

Ornella Barra BOARD MEMBER

Paolo Di Benedetto BOARD MEMBER

Alberta Figari BOARD MEMBER

Diva Moriani BOARD MEMBER

Lorenzo Pellicioli BOARD MEMBER

Roberto Perotti BOARD MEMBER

Sabrina Pucci BOARD MEMBER **

Paola Sapienza BOARD MEMBER

BOARD MEMBERS

R.C.C.RISK & CONTROL COMMITTEER.P.T.C.RELATED PARTY TRANSACTIONS COMMITTEEA.R.C.APPOINTMENTS & REMUNERATION COMMITTEEC.S.C.CORPORATE GOVERNANCE, SOCIAL & ENVIRONMENTAL SUSTAINABILITY COMMITTEEI.C.INVESTMENTS COMMITTEE

INDIPENDEN

T*

R.C.C.

R.P.T.

C.

A.R.C.

C.S.C.

I.C.

* Independence criteria as per article 3.C.1 of the Issuers’ Self-Regulatory Code** Members of the A.R.C. on the occasion of the meetings devoted to the appointments

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