Engagement of analysts and investors

The Generali Group believes maximum transparency is crucial to its relationship with the financial community.

Every year and whenever there is a significant change to the ownership structure, the Parent Company publishes.
The Corporate Governance and Share Ownership Report which describes, among other things, how the corporate bodies function, their composition and their term of office.

To enable investors to base their decisions on an accurate assessment of corporate policies, operational performance and projected return on invested capital, the Group goes beyond the disclosure requirements established by law.
Upon major issues of financial reports and extraordinary transactions, the Group complements these statutory disclosures with presentations to institutional investors and analysts. Price-sensitive information is disclosed in the form of timely and thorough press releases.

In terms of dialogue with and engagement of analysts and investors, 2012 and the first few months of 2013 was an unusual period compared to the previous periods, mainly due to the change in the composition of the Top Management and, as a result, the management of the Company.

If, up to the presentation of the new Group business plan to the financial markets (january 2013) the day-to-day communication with the financial markets had slowed compared to the previous year, in the last few months the number of meetings with the financial community rose sharply, bringing the number of contacts in 2012 to 282 (268 in 2011). These included conferences, presentations, roadshows and individual meetings, in addition to telephone conversations and conference calls managed on a daily basis by the Investor Relations department.

 

On 14 january 2013, Generali held an Investor Day in London. At this meeting, the Top Management presented the international financial community with the strategy for transformation of the Group, based on the main objectives of improving returns for shareholders and maximising the value of the core business of insurance, strengthening capital soundness and profitability, and implementing a business approach guided by customers.

The event had widespread international media coverage, which was also the result of the logistical choice of a highly visible financial market such as London.

 

The breakdown of meetings by type of participant (62% institutional investors, 38% analysts) again shows significant interest from financial analysts, specifically credit analysts, also due to the meetings organised for the bond issue in December 2012.

The breakdown of meetings by type of participant (62% institutional investors, 38% analysts) again shows significant interest from financial analysts, specifically credit analysts, also due to the meetings organised for the bond issue in December 2012.

Lastly, it is important to note that over the year the Company received numerous contact requests from ESG analysts with a view to obtaining more details on the Group's social and environmental commitment and performance.

Increasing requests concerning SRI issues were also received from investors, in order to assess the Group's compliance with the criteria defined to consider the investment in the Generali share as socially responsible.
Dialogue with analysts, investors and "ethical" rating agencies, managed with support from the Corporate Social Responsibility department was mainly conducted through conference calls and requests to fill out questionnaires.

In this sense, the Group was a speaker at the Settimana dell'Investimento Sostenibile e Responsabile (week for sustainable and responsible investing) in Italy, in june 2012, in the presence of the leading players in Italian traditional and ethical finance.

The financial community is able to communicate directly and at any time with the Company via the section Investor Relations on the Group's website, which provides contact details for the offices dealing with private and institutional investors. This section also includes all information on Shareholders' Meetings, corporate governance and, more generally, the economic and financial performance of the Parent Company and the Group by way of annual reports and interim financial statements.

Main meetings with analysts and investors involving the Top Management

Main meetings with analysts and investors involving the Top Management