This page contains Consolidated Non-Financial Statement information
The Annual Integrated Report also provides non-financial information, in accordance with the provisions of legislative decree of 30 December 2016, no. 254 (Leg. Decree 254/2016), in implementation of European Directive 2014/95.
To the extent necessary for an understanding of the Group development, performance, position and impact of its activity, information relating to:
- environmental matters;
- social matters;
- employee matters;
- respect for human rights;
- anti-corruption and bribery matters;
which are relevant to the activities and characteristics of the Group is disclosed while also at least describing:
- the organization and management model, including direct and indirect impact (p. 18). 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. As for the Parent Company’s model, refer to the Corporate Governance and Share Ownership Report 2017, p. 125-127;
- the policies applied (p. 22 and 38);
- the non-financial key performance indicators (p. 10, 19, 32-33 as well as where indicated through the infographic);
- the principal risks related to the matters aforementioned (p. 22-29, 33)
Based on the Group’s consolidated methodological decisions pertaining to integrated reporting, the Report is drafted in accordance with the Guiding Principles and Content Elements envisaged by the International <IR> Framework, approved by the International Integrated Reporting Council (IIRC). The standard adopted for the disclosure of the material matters identified by the Group, especially of those non-financial ones envisaged by Leg. Decree 254/16, is the GRI Sustainability Reporting Standards issued in 2016 by the GRI - Global Reporting Initiative (GRI-Referenced claims), with reference to selected GRI Standards and indicators of the GRI G4 Financial Services Sector Disclosures, as detailed in the Note to the Management Report.
The disclosure of the aforementioned matters is therefore integrated into the Annual Integrated Report of the Group: this decision complies not only with current legislation, but also with the International <IR> Framework, in particular with the Materiality, Connectivity of information and Conciseness Guiding Principles. For the purposes of simplifying the fulfilments required by the decree and also promoting greater accessibility to published non-financial information, the latter is clearly identified within this Report, even through the use of infographic in the margin.
Information which is relevant to this decree has been identified through an innovative materiality process developed in accordance with the <IR> Framework. In particular, the starting points were the matters contained in the materiality matrix created in 2016 where primary importance is ascribed to the perspective of internal and external stakeholders. These matters were found within the primary reporting documents produced by the Company and approved by corporate bodies or, at least, at the top levels of Generali. Research activities were implemented through content analysis of a documentary sample of about 1,500 pages, including the presentation of the Group's strategy to the market, the Charter of Sustainability Commitments, the minutes of the annual Shareholders' Meetings and the transcripts of conference calls with investors. With respect to the 20 starting matters of the aforementioned materiality matrix, the analysis identified the following 11 matters as most material in terms of frequency within the documentary sample:
1. Responsible business management
2. Climate change and natural disasters
3. Responsible remuneration and incentives
4. Quality of the customer experience
5. Product and service development
6. Responsible investments and underwriting
7. Attracting talent and development of human capital
8. Employee engagement and promotion of a common culture
9. Data and cyber security
10. Demographic and social change
11. Prevention of corruption
Given its connection with the strategy, complementary information is also provided as for:
12. Diversity, inclusion and equal opportunities
13. Relations with distributors
Glossary available at the end of this document
Such matters are disclosed in this Report in a manner which is consistent with the strategic orientation and business management of the Group. The specific performance indicators are those related to the strategic plan or those which are monitored operationally during planning and control processes while taking into account the relative scope that is currently applied. Finally, where feasible, a comparison is offered with the previous period.
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.
| Leg. Decree 254/16 matters | Material matters for the Generali Group | Sections of the Report |  |
|---|---|---|---|
| environmental matters | 1. Responsible business management 2. Climate change and natural disasters 5. Product and service development 6. Responsible investments and underwriting |  | |
| social matters | 1. Responsible business management |   | |
| employee matters | 1. Responsible business management |  | |
| respect for human rights | 1. Responsible business management 6. Responsible investments and underwriting | ||
| anti-corruption and bribery matters | 1. Responsible business management 6. Responsible investments and underwriting 8. Employee engagement and promotion of a common culture 11. Prevention of corruption |  |
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 regulatory 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.
Milan, 14 March 2018
The Board of Directors