Cristina Bacchini | Generali - Integrated internal control over sustainability

Sustainable finance and Integrated Thinking Integrated internal control over sustainability: a new opportunity for the value creation

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Integrated Internal Control over Sustainability: my important numbers

Courage, team spirit, prompt decisions

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Integrated Internal Control over Sustainability: main Elements Opportunity for the Value Creation Opportunity for the Value Creation Integrated Internal Control over Sustainability: Come possiamo...

Main elements

Internal Control System

Values

Trust

Live the Community

Production of documents and reports (financial and nonfinancial) that are accurate, correct, complete, traceable and verifiable at any time, allows us to strengthen and maintain the trust of our stakeholders.

Value of the People Delivery on the Promise Be Open

Regulatory Regulatory compliance is a complementary part of our mission.

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Value Creation

We believe that Trust is the driving force behind the Value creation.

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Integrated Internal Control over Sustainability Focus on Internal Control System Three main point of focus:

«Dirigente Preposto» Cyrcle Building an internal control system that organically allows to produce information, data, reports and therefore solid and reliable results for stakeholders, both internal and external.

Internaldi Sistema Control Controllo System Interno

The provisions introduced by Italian Law no. 262/05, also known as the “Savings Law”, increasing control over financial reporting and introduced the “Dirigente Preposto” (DP) figure, who is responsible for the establishment of appropriate The “Dirigente Preposto” model, has allowed us to financial reporting procedures. adopt a structured framework also for Non-Financial and Sustainability topics.

An integrated approach to the control system, allows us to maintain the reliability gained even on new disclosure areas.

Integrated Reporting

Non-Financial Statement Sustainability Report

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Integrated Internal Control over Sustainability Interest for Stakeholders Opportunity for the Value Creation

Role of producing reliable results for all Come possiamo... stakeholders.

…on the inside It is important to make sure that our colleagues use the Internal Control System as an opportunity for company purposes…

Company Policies and Guidelines defined internally, reflect the corporate strategy and directly influence the preparation of reporting to the outside (market disclosure)…

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Internal Control System

... on the outside ... increasing value creation by making available reliable information to stakeholders, it is just as important! ... therefore, in order to correctly and effectively transmit information to the market, it is necessary to adopt a solid and integrated internal control system over all reporting procedures.

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Integrated Internal Control over Sustainability The main Outputs

Our OUTPUTs can be traduced in:

Higher level of control over reporting issues: (Financial, Non-Financial and Sustainability Reporting).

Increase in Value Creation for the Group by integrating our control system into our business.

Awareness, capability, behavior

Overall Cost

Data Quality

Operational risks

Reputation

Duplication of controls Overall process complexity

Adequacy of Controls

Decrease

Increase

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Integrated Internal Control over Sustainability: our Network Opportunity for the Value Creation

The main Key Performance Indicators (KPI) of our Network: We have developed a solid framework based on shared rules, local empowerment and integration mechanisms.

The network: All Group Companies in scope of reporting Main companies involved in direct supervision activities

We are committed to enhancing and training our people, in order to be ready to face future challenges in the best possible way.

Thousands monitored reporting processes and IT applications in scope for reporting areas.

We have strong technical skills that allow us to constantly improve and simplify corporate processes.

Skills & Know-how: 33,2 average hours of training pro capite * 86% people of the Group involved in performance * management activities Many global Communities and dedicated Events.

Our people: 71.327 staff of the Generali Group* 49,8% women* 80% engagement rate* Our Financial Reporting Officers are in charge worldwide.

Many other direct supervisional & operational roles.

(*) Annual Integrated Report 2017 Š Assicurazioni Generali S.p.A.

All Companies in scope sign our Confimation Letters.

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Integrated Internal Control over Sustainability Complementary Integrations

The main complementary elements to the Internal Control System:

Data Quality framework

Information tecnology integration

Automation of tests

Monitoring through ex-ante controls

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How can we integrate the “Dirigente Preposto» Cyrcle?

The “Dirigente Preposto” activities and, generally, an Internal Control System, should be integrated with complementary elements that can increase accuracy, appropriateness and completeness of financial reporting processes outputs that are produced; these elemens directly or indirectly affect on the financial and nonfinancial reporting.

Thank You.

Cristina Bacchini Head of Group Financial Reporting Risk cristina.bacchini@generali.com Assicurazioni Generali SpA Piazza Duca degli Abruzzi, 2 34132 Trieste www.generali.com