Letter from the Chairman and the Group CEO

Last year the Generali Group achieved impressive business results with the satisfaction of having met the key financial objectives announced two years ago well ahead of schedule. But the numbers of our financial reports and the presentations to the markets can also be read through an entirely different lens - that of sustainability, taking into consideration that our business is based upon commitments that are made today and must be maintained in the more or less distant future. The Vision of Generali is even more explicit: Our purpose is to actively protect and enhance people’s lives. For instance, every time we invest our assets in certain financial securities we contribute to the development of enterprises. Or even, whenever we pay out annuities of our policies or pension funds we help families to preserve their standard of living and their well-being, or to fulfil their childhood dreams.

From the point of view of internal company processes, our social responsibility is based on clear commitments to rules upheld by the international community, such as the ten principles of the Global Compact in terms of respect for human rights and labour, environmental protection and the fight against corruption. Since 2007, we have supported the United Nations initiative that encourages companies throughout the world to create an economic, social and environmental framework which is able to guarantee everyone the opportunity of sharing its benefits. And as for environmental risk, the most global of all risks, we personally commit ourselves to limit the consumption of natural resources and emissions of greenhouse gases and to adopt a systematic precautionary approach to avoid serious damage to the land.

And that’s not all. As a large company we do believe in our moral obligation towards society: listening to those in need and going beyond the bounds of pure business. In 2014 we undertook hundreds of initiatives worldwide, some considered relevant and impactful, others only smaller in size, all highly innovative and promising. Globally, the Group committed more than 33 million euro in sponsorship and donations in the areas of culture, sports, scientific research, education, medical assistance - with particular regard for those communities where the Group has a presence. All these projects are consistent with our idea of sustainability: namely, to have a long-term vision, and to see far into the future. And besides, we firmly believe that in a better society the opportunities for a global player business to be successful are far greater.

In the Annual Integrated Report, we express our thanks, above all, to the nearly 80.000 colleagues who work with us every day. Yet when speaking of sustainability, and rightly so, the circle opens up to include all those who help us improve our business: our agents, suppliers, customers, and all who care about the development and prosperity of the world in which we live. We are in this together.

Gabriele Galateri di Genola


Mario Greco
Group CEO