For eleven years we have been illustrating our Group’s commitment to contributing to the society that surrounds us, a contribution whose foundations lie within our profession as insurers but which goes beyond the limits of our industrial mission.
The Sustainability Report is aimed at a broad public: anyone that has chosen us to fulfil their need for protection, anyone that works with us, trusts us with their capital or decides to invest it in our Group, anyone that forms part of the communities in which we operate may be interested to know where our journey is taking us.
It is an account that supplements the information issued to the financial community through annual reports and company disclosures. More specifically, it is an independent compendium compared with the Annual Integrated Report that presents the economic and financial results generated by a strategy, a business model and a series of actions designed to create value for Generali and its stakeholders, against the backdrop of the economic, social and environmental context in which the Group operates.
As such, this document closely examines some issues and introduces others of specific interest to some groups of stakeholders. The Report paints a picture of a Group that has changed significantly, and not just from an industrial perspective: Generali’s new values are embodied in our people, in our relations with our partners, in the actions that seek to implement our new Mission and Vision.
To represent the incredible turnaround that Generali has undergone in the last few years in an analytical and instantly intelligible form, we have launched an assessment process with regard to the most important issues, on which we are concentrating our attention and efforts in order to produce results that are of great significance not only to Generali but also to its stakeholders. The results of the interviews with our top managers are reported in the so-called materiality matrix, which kicks off this year’s Report, represents its biggest new feature and is its main source of reference. It is a matrix that summarises the different ways that the Group companies create value for the economies and markets in the countries in which they operate, for all the people, within and outside Generali, and for the social and environmental context around us. It is a synopsis that therefore focuses on the most material of issues, in relation to which we outline our approach, our actions in the field and the results we have achieved.
As such, the matrix also becomes the reference source for the definition of sustainability strategies, which must take account of both the priorities within the Group and the needs and expectations of its main stakeholders. For this reason we are reviewing the Charter of sustainability commitments and the goals and targets contained therein to ensure they are consistent with the materiality identified and can therefore be used to plot a process of improvement.
The Sustainability Report was drafted in accordance with the new reporting guidelines G4 of the Global Reporting Initiative (GRI), adopted for the first time a year ahead of the established deadline, applying the “in accordance” - Core option.
The drafting principles, structure and content of the document meet the core criteria of the guidelines, with reference also to the G4 Sector Disclosures for Financial Services, through the GRI Content Index, present in the online version of the Report published on the generali.com website.
The principles of AccountAbility 1000 were applied in the process of gathering information for the Report. To identify the main categories of stakeholders, both inside and outside the Group, we referred to the principles of the AccountAbility AA1000APS standard.
Wherever possible, the information disclosed in the document refers to the entire Group (consolidated companies) or, where relevant, to specific areas connected with certain projects or activities. In the cases where the Group figure was unavailable, we published the figures pertaining to the 7 main countries in terms of the Group’s premiums (Austria, France, Germany, Italy, the Czech Republic, Spain and Switzerland). In this case, the figures refer only to the insurance companies (excluding those of the Europ Assistance group) and those that carry out connected services, in line with the focus on the Group’s core business, which underlies the strategy.
To prevent the Report from becoming too dense, the printed version does not include the country-level figures, which are however outlined in the version published on the website. Instead, we have used plenty of infographics to illustrate certain content in a creative and immediate manner. Finally, we have described many initiatives, projects and activities in a detailed way in order to highlight our way of approaching and tangibly managing corporate sustainability issues, and to transform this Report into an opportunity for reflection and engagement on the part of our readers.