Letter from the Chairman and Group CEO to stakeholders

2013 was a crucial year for Generali. In a complex economic climate, the Group regained its vitality as a result of a strategy based on discipline, focus and simplicity. By executing the new strategic plan, we achieved significant results and reached several targets set out in the three-year plan ahead of schedule. These results were also achieved due to the Group's transformation - strengthened managerial structure and streamlined, improved governance.

The milestones achieved are proof of the commitment from all of us to create value for the Company and for all of its stakeholders: for shareholders and investors, who have seen increased value and returns of their investments, as well as for our clients, whose trust we intend to strengthen and build on, as they are a determining factor for our success.

We are aware that we have been able to achieve these results only thanks to our employees and their hard work. This is why we welcome and cultivate talents, encourage participation in an inclusive work environment which benefits from diversity, and offer everyone opportunities by recognising each person's contribution and value based on meritocracy.

In the communities we operate in, we work with authorities and non-profit organisations on projects capable of improving people's lives. We also feel responsible for preserving the environment for the benefit of future generations. At Generali we have been making a concrete effort, for years now, to reduce our consumption of natural resources and greenhouse gas emissions, taking an approach aimed at preventing the occurrence of serious damage to the environment by promoting environmentallysustainable behaviour.

Our unwavering commitment to the sustainable development of our Group also gains its strength from our participation in the United Nations Global Compact as to promote ten principles in the areas of respect for human rights and labour standards, environmental protection and the fight against corruption. Through the Charter of Sustainability Commitments, introduced last year, we began to outline a road map for their implementation in the various areas of corporate operations, extending the target-based management approach already tested on the environmental area to social issues.

The definition of a new Vision, a clear Mission and a sound set of Values, which are the foundation for the development of Generali Group culture, representing our beliefs and setting us apart, also made 2013 an important year.

Within Generali, social responsibility is a way of doing business which enables us to share our successes with the parties that help us achieve them and maintain them over time. Our stakeholders' appreciation for our work and results achieved drives us to continue on this path.


Gabriele Galateri di Genola

Gabriele Galateri di Genola Presidente

Mario Greco
Group CEO

Mario Greco Group CEO


Assicurazioni Generali S.p.A. - C.F. e P.IVA 00079760328