Supplier policy

The creation of a network based on long-lasting and mutually satisfactory relations with qualified suppliers is a strategic objective for the Group, which builds competitive success.

Supplier policy

The Generali Group believes that, in an increasingly globalised and integrated economy, creating a network based on long-lasting and mutually satisfactory relations with qualified contractual partners - that ensure high quality products and services for the Group - is a strategic objective which builds competitive success.

Relationships with contractual partners are governed by a specific document, the Ethical Code for suppliers of the Generali Group, approved by the Parent Company's Board of Directors in December 2011. The main purpose of the Code is to define the methods for dealing with and managing the risks and opportunities relating to the management of relations with suppliers, in order to guarantee the integrity of the supply chain in relation to the principles concerning human and labour rights, the fight against corruption and the environment that the Group commits to complying with in all of its operations.
To this end, the Ethical Code for suppliers outlines the general principles that have to underpin fruitful relations with contractual partners: correctness and honesty, the rejection of any type of corruption, transparency and impartiality, preventing conflicts of interests, fair competition, and confidentiality, and protecting workers and the environment.
Suppliers are required to follow the Group's policies while performing business and to ensure compliance also with all the levels of the relevant supply chain. Specifically, suppliers are required to comply with all national and international applicable rules and regulations, including the International Labour Organization's Declaration and the UN Universal Declaration of Human Rights.

In the countries in the Sustainability Report scope and in other European countries, clauses in supply contracts expressly require compliance with laws on labour, health and safety in the workplace and environmental protection. For violations, sanctions are also envisaged, which can even result in contract cancellation if it is not possible to resolve the problems through dialogue with suppliers.
For greater control over the supply chain, the use of subcontracting is governed by contract, and suppliers are requested to report any use of third parties in carrying out their services.

To govern relationships with suppliers in detail, several countries (Italy, Austria, France and Germany) have adopted specific codes or documents in line with the Ethical Code for suppliers of the Generali Group, while others have formalised purchasing procedures and practices in internal circulars and regulations. The new Code of Conduct also sets forth provisions concerning relationships with suppliers, which specifically cover the prevention of potential conflicts of interest and the regulation of the acceptance/offer of gifts of any type, which are permitted only if they relate to work and their value is under a reasonable limit, also taking account of the local regulations and practice.