This year we are publishing our tenth Sustainability Report. We are acting with renewed vigour with the intention of providing suitable information on our main activities through which we have expressed our commitment to sustainable business in the last year. We address a wide audience, comprised of our clients, all consumers, our employees and the communities in which we operate, to which we intend to provide information in addition to that provided through the other communications published, targeted to better meet the needs of the financial community.

These include, above all, the 2013 annual report which, for the first time, we have drawn up as an integrated report, not only providing information on our economic and financial results, but also explaining how we achieved such results, the specific strategies, business model and actions implemented and, especially, describing them in the wider context of creating value for all stakeholders.

This point perfectly captures the underlying reasons for Corporate Social Responsibility, which forms the basis of the Sustainability Report we are publishing and, in the same spirit, aims at describing everything we have done, why and how we have taken these actions, and the results we have achieved.

Before going into detail, we will attempt to provide some guidelines to help you navigate the report and its content.

Firstly, in telling our story, we felt the need to express the profound change under way in our Group which, in the last year, has set a new governance and strategy, emphasized on our ethical principles in the new Code of Conduct and, in this new scenario, revised our vision, mission and values.

Thus, we selected the contents of the 2013 Sustainability Report following an approach based on our new vision and mission as to discuss our values and how we embody and implement them in the relationships with our various stakeholders. As part of the latter, in the report we have kept in mind the primary stakeholders that are the target of this document – clients and consumers in general, employees and the community - even though all stakeholders are important to us, as they all affect our decisions and actions in some way and to some extent. We have also considered a ‘dumb’ stakeholder, the environment where all the above mentioned categories of people live, that therefore is dear to all.

The document we have created is not intended to be exhaustive and should not be considered as such: in selecting the topics to cover in depth, we tried to match the range of corporate interests, resulted from people responsible for the functions concerned, with those of our stakeholders, directly assessed during the opportunities for dialogue which will be described or reported on from the various available sources. The results of this constitute a step towards a Sustainability Report that increasingly focuses on the aspects that are really important, which we concentrate our efforts on, also in responding to our stakeholders’ needs and expectations.

Over the next few months, we will more accurately verify the degree to which the issues reported on match with stakeholders’ interests, and - primarily - the match between the latter and the issues we manage, validating what is known as the materiality matrix. We use this matrix to revise our road map for implementing sustainability within the Group year after year, i.e., the Sustainability Objectives and Commitments in the Charter of Sustainability Commitments.

This is an important document that is approved by the Board of Directors of Assicurazioni Generali, publicly commits the Group to concentrate its efforts on achieving specific goals. This is a new document which was drawn up for the first time in 2013 and which this report reports on for the first time. Specifically, the Appendix at the end of the document includes a table summarising the results achieved, while the individual chapters provide more information, where significant, on the actions taken in relation to many of these results.

Moving on to describe how our Sustainability Report is organised this year, firstly, you can easily see that the length has been significantly reduced, in the hope that this will increase its readability, as well as the result of our intention not to issue a comprehensive publication, rather, a selection of information on the most important issues.

Compliance with the Sustainability Reporting Guidelines 3.1 and Financial Services Sector Supplement of the Global Reporting Initiative (GRI) standards in terms of the drafting principles, the structure and content is illustrated in the GRI content index, including the Global Compact principles, which is an integral part of the on-line version of the report published on the corporate website. The principles of AccountAbility 1000 were also applied in the process of gathering information.

Another important change to the document was the decision to include figures in the report that refer to global Group level as much as possible, or, where pertinent, to specific areas to which the single projects/activities refer. In the cases where the Group level figure was unavailable, we published the information pertaining to the 7 main countries in terms of Group premiums (Italy, Austria, France, Germany, the Czech Republic, Spain and Switzerland), which in the previous report was called the Sustainability Report Area. In order not to interrupt the story and keep the document concise we preferred to provide data at country level just on the on-line version. It must be noted that this year’s figures refer only to the insurance companies (excluding those of the Europ Assistance group) and the relevant service companies, in line with the focus on the core business of the Group which underlies the new strategy.

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