Letter from the Chairman and the Group CEO

The 2016 Sustainability Report outlines our idea of corporate social responsibility and describes how it is a tangible part of the Group’s everyday life. This idea stems from our position as global leader in the insurance sector, a strategic and highly relevant industry for the growth, development and welfare of modern societies. In our new Charter of Sustainability Commitments we establish a strong connection between the work we carry out and our commitment towards a healthy, resilient and sustainable society, where people can progress and flourish.

People who work in the field of protection and risk management, do so above all by bearing in mind the future, with a long-term perspective. This is one of the basic requirements for corporate sustainability. Another prerequisite is the ability to trigger ongoing dialogue with our stakeholders, in order to clearly understand, year after year, which issues are truly important for them, in the light of a complex society and of increasingly new and global risks. It is also thanks to them that today our strategy focuses on areas such as the quality of customer experience and the digital innovation of business.

Our report also reveals what creating shared value means to us, which originates from a mutual and elementary but at the same time sophisticated notion that is at the basis of insurance. Value is shared when the protection of individuals or companies turns into benefits for our employees and distributors, who thanks to Generali develop their professional skills and achieve their aspirations; for the communities in which we operate, made up of all those who have no business relationships with us but towards which we extend our vision to improve the lives of people; for the state and supranational entities. Or when the investment of our insurance assets stimulates the business system or helps to fund the budgets of nations. Value is shared for our investors, to which we ensure sustainable profits through time. Value is also shared when, thanks to our insurance solutions, we promote behaviour and lifestyles based on prevention.

The theme of prevention is the cornerstone of our business, which results in a prudential approach in whatever we do. Our constant compliance with supranational directives continues, viewed as a shared commitment for the future of the planet, such as the promotion of the ten principles of the Global Compact regarding the respect for human and labour rights, environmental protection and the fight against corruption.

Corporate social responsibility is a field with increasingly growing opportunities both as regards interpreting and governing the complexity of globalisation, and triggering processes of change. Our commitment is simple: Generali wishes to be among the protagonists of change. It always has been and will be even more so in the future.

Gabriele Galateri di Genola

Philippe Donnet
Group CEO