NFS

This page contains Consolidated Non-Financial Statement information

Non-financial information is disclosed in the Annual Integrated Report of the Generali Group in compliance with the provisions of legislative decree of 30 December 2016, no. 254 (leg. decree 254/2016), in implementation of European directive 2014/95. This information is clearly identified through a specific infographic (NFS) created for the purposes of simplifying the fulfilments required by the decree and improving accessibility to the information itself.

To the extent necessary for an understanding of the Group development, performance, position and impact of its activity, information relating to environmental matters, social and employee-related matters, respect for human rights, anti-corruption and bribery matters - which is relevant to the activities and characteristics of the Group - is reported together with a description of the:

• organization and management model, including direct and indirect impact (p. 26-27). The main operating companies based in Italy have adopted models pursuant to article 6, paragraph 1, letter a), of legislative decree of 8 June 2001, no. 231. These models aim at mitigating risks connected to offences that are relevant also to legislative decree of 30 December 2016, no. 254;

Corporate Governance and Share Ownership Report 2018, for the organization and management model of the Parent Company

• policies applied;
• non-financial key performance indicators; 
• principal risks related to the matters mentioned above and their management.

The Report complies with currently effective regulations and applies the International <IR> Framework -issued by the International Integrated Reporting Council (IIRC) - of which it mainly highlights the following Guiding Principles: materiality, connectivity of information and conciseness. The standard adopted for the disclosure of the material matters identified by the Group, including those non-financial matters envisaged by leg. decree 254/2016, is the Consolidated Set of GRI Sustainability Reporting Standards, issued in 2016 by the GRI-Global Reporting Initiative (GRIReferenced claims), with reference to selected GRI Standards and indicators of the GRI G4 Financial Services Sector Disclosures.

Note to the Management Report, for the criteria of the International <IR> Framework and selected indicators

In line with the previous Statement, information which is relevant to the decree was identified through an innovative materiality process developed in accordance with the International <IR> Framework. Specifically, matters in the 2016 materiality matrix, where primary importance is ascribed to the perspective of internal and external stakeholders, were found within the main reporting documents produced by the Company and approved by corporate bodies or, at least, top management of Generali, and then examined through the content analysis methodology. The most material matters in terms of frequency within the documentary sample of more than 1,200 pages - that are therefore disclosed – are the following:

1. Responsible business management
2. Responsible remuneration and incentives 
3. Climate change and natural disasters 
4. Product and service development
5. Responsible investments and underwriting
6. Data and cyber security
7. Quality of the customer experience
8. Business innovation for the digital customer
9. Insurance solutions promoting sustainable and responsible behaviour
10. Attracting talent and development of human capital
11. Employee engagement and promotion of a common culture

In accordance with the choices made in the last Report and in line with the new strategy announced in November 2018, their disclosure is integrated with information on the following matters:

12. Prevention of corruption
13. Demographic and social change
14. Relations with distributors
15. Diversity, inclusion and equal opportunities

Glossary

In line with European common enforcement priorities for 2018 annual financial reports, a document issued by ESMA¹, NFS the matters² mentioned above are disclosed in this Report in a manner consistent with the strategic plan and business management of the Group. This means indicators monitored in the business management (e.g. indicators related to the strategic plan or monitored in the planning and control processes) are used, taking into account their currently applied scope, as described in the methodology document. Lastly, a comparison is offered with the previous period, where feasible.

For the purposes of promoting greater accessibility to non-financial information, the following table highlights the connection between the matters of leg. decree 254/2016 and those most material to the Group, as well as an indication of the related section of the Report in which they are reported in addition to our support for the Sustainable Development Goals launched by the United Nations.

Pursuant to article 5 of the Consob Regulation 18 January 2018, no. 20267, the Generali Group has assigned the auditing firm EY S.p.A. - the current external auditor for the financial statements - with the task of performing the limited assurance activity on this Statement. The Report drafted by EY S.p.A. is attached to this document.

 

¹ www.esma.europa.eu.
² The following matters envisaged by leg. decree 254/2016, art. 3, paragraph 2 are not material: water use, air pollutant emissions and impact on health and safety.