Generali s rating TRIESTE, ITALY. Recently, the rating agencies Fitch Ratings and Moody s affirmed Generali s rating. Fitch affirmed the A-rating of Generali on February 6 th. The rating agency stated: The affirmation of the IFS ratings reflects Generali s strong operating performance in 2013 (in particular in the property and casualty segments) and the enhanced focus of the new management to preserve capital and reduce debt. In addition, Moody s announced on February 19 th that it has affirmed Generali s IFS rating at Baa1 and has changed the outlook of the three insurance groups and their related entities from negative to stable. The change of outlook reflects Moody s view that these insurance groups key credit fundamentals (asset quality, captialisation, profitability and financial flexibility) are correlated with, and thus linked to the economic and market conditions in Italy, where the entities are domiciled and have significant operations. Highlights of Insurance Financial Strength as at March 3 rd 1
Roundtable in Hong Kong HONG KONG, February 19 th to 20 th. The Roundtable were organized by the Asia Regional Office for the first time in Asia. The events were participated by representatives from the Head Office and Regional offices across Asia Pacific. Mr. Alberto Paletta, Group Head of Adv & Corporate Identity, and two representatives from Group Marketing & Communication, attended the Brand Workshop together with Landor, a brand consulting firm, specializing in creative strategy and design. Moreover, teams of all Asian countries along with the Regional Team, actively participated in the workshops on both days. The participants of Brand Roadshow from Head Office and Country offices in Asia. (Photo credit: Tammy Ng) During the two-day workshop, various presentations and group discussions were conducted with a primary focus on the Brand Manual that was launched at the beginning of the year. A new identity and a single look and feel that allows Generali to present itself in a consistent way worldwide. The Head Office representatives and Landor have given useful insights into the brand guidelines and the applications of the materials through practical demonstrations and engaging activities. On the 2 nd day, each country s Communications representative was given the opportunity to deliver a presentation about the country-specific marketing & communications activities and planning in 2014. As a highlight, an external keynote speaker from Nielsen was presented to share with the group the results of a recently conducted research on Asia Pacific about consumer s saving behavior on Insurance products. The event has successfully created a valuable platform for Generali s professionals to get together and to share local experiences and expertise in key marketing and communications activities. The feedback received from the participants was positive and the key takeways from the event are useful assets to help in continuing to deliver high quality marketing and communications initiatives in Asia Pacific. 2
appointment of Mr. Bundit ( Kenny ) Jiamanukoonkit as CEO THAILAND: Recently, Generali Life Assurance (Thailand) Public Company Limited (the Company ) announced the appointment of Bundit ( Kenny ) Jiamanukoonkit as Chief Executive Officer. Commenting on the appointment, Mr. Sergio Di Caro, Regional Officer, Generali Asia Regional Office, stated, We extend a very warm welcome to Kenny for joining the Generali family. Generali is committed to growing its presence in South East Asia. As the second largest economy in South East Asia, Thailand is an important and attractive market to Generali. Given his extensive industry experience and strong leadership capabilities, Kenny is well positioned to spearhead the expansion of our life business in Thailand. Kenny has nearly two decades of experience in the financial services sector. He joins Generali Thailand from Thai Samsung Life Insurance Co., Ltd. where he held the position of President and CEO. Previously, Kenny was the Managing Director of Siam Commercial PCL., (formerly known as Siam Commercial New York Life PCL.) where he was responsible for managing and growing all distribution channels, including the leading bancassurance operation in Thailand. Kenny holds a M.B.A. from Wichita State University (USA) and a Bachelors Degree in Computer Science from Srinakharinwirot University. Insurance received ISO 9001:2008 certification INDIA: Insurance Company Limited announced that it has received ISO 9001:2008 certification for its Investment Processes. This certification validates Future Generali s compliance with internationally established standards for Quality Management Systems in its Investment Department. ISO 9001:2008 is the internationally recognized standard for Quality Management Systems (QMS). It prescribes systematic control of business activities to ensure that the needs and expectations of customers are met. To qualify for ISO 9001:2008 certification, Future Generali had to meet rigorous standards in its investment practices, investment documentation review, pre-audit, initial assessment and clearance of all nonconformities. The process which went on for about 3 months culminated in a comprehensive certification audit by BSI (British Standards Institution). From Left to Right: Mr. Kapil Mahajan & Mr. Ashok Balwani from BSI; Mr. Nirakar Pradhan, CIO, FG Life; Mr. Munish Sharda, MD & CEO (Officiating), FG Life; Mr. Anup Chandak, CFO, FG Life. (Photo credit: Courtesy of Future Generali India) Commenting on the achievement, Mr. Munish Sharda, Managing Director & CEO (Officiating), Insurance said, This is a proud moment for us and we will continue to focus on quality management systems in the company. We are a customer centric organisation and are committed to continuously improve ourselves to conform to global standards and in providing best in class services to our customers. The Investment Department in an insurance company is of vital importance, this accreditation validates our respect for the trust and confidence our customers have instilled in us. 3
Our Activities GENSOCIETY GENCULTURE 2014 BANDUNG, INDONESIA. Generali Indonesia s Agency Kick-Off 2014 took place from January 7 th to 9 th. With the theme Singa Terbang (which means Flying Lion in Bahasa) Servicing with Integrity and Great Attitude, the event featuring six inspiring speakers to share about selling, financial planning, business development, leadership and motivation. Attended by more than 1000 enthusiastic agents and staff, the Moment of the agency kick-off event. event was opened by Mr. Edy (Photo credit: ARTVENTURINDO) Tuhirman, CEO Generali Indonesia and Mr. Wianto Chen, CAO Generali Indonesia, launching the Production Targets and Strategic Initiatives for 2014; and closed by the honorary guest, Mr. Sergio Di Caro, Regional Officer for Asia. The event successfully triggered new energy and spirits for the agents to step forward in achieving their goals. As of now, Generali Indonesia has more than 3,000 licensed agents spread out across the archipelago of Indonesia, from Sumatra to East Indonesia. With this event, Generali Indonesia strives to jump start the agency channel to achieve our 2014 sales objectives. Gensociety Hong Kong Branch s 12 th race for a greener future! HONG KONG. For the 12 th consecutive year, Assiscurazioni Generali S.p.A. - Hong Kong Branch s staff participated in the 2014 Green Power Hike, the Hong Kong green walkathon, on January 25 th. This annual charitable walkathon reached this year its 21 th Edition. The hike, set with different categories, is held in January or February at the 50-km Hong Kong Trail. Every year the large scale walkathon receives enthusiastic support from more than 3,000 participants and over 100 corporations and organizations. In the past 21 years, more than 51,000 people have participated in the Green Power Hike, raising over HK$67 million to build a green future. All donations are used for environmental education in the community and schools. Participants of 10km Individual and HKFI Cup race. (Photo credit: Courtesy of Generali Hong Kong Branch) 4
EVENT CALENDAR WHEN event where March 12 th March 24 th Board of Directors Meeting Assicurazioni Generali S.p.A. Audit Committee and Board of Directors Meeting Generali Thailand Did you know that Generali took part in the World Economic Forum in Davos? The Generali Group actively took part in the World Economic Forum being held in Davos in late January. A delegation of the Group s top executives composed of the Group CEO Mario Greco, the CFO Alberto Minali, the Chief Insurance Officer Sergio Balbinot, the CIO Nikhil Srinivasan and the Group Director of Communications and External Relations, Simone Bemporad met with business counterparties and discussing the world s hot topics at roundtables and conferences. The World Economic Forum, with thematic focused this year on The Reshaping of the World: Consequences for Society, Politics and Business, is a unique annual opportunity to talk business and exchange ideas about the most important macro trends affecting the world s economy with representatives of the major global private and public institutions, as well as academic experts. For the occasion, Generali has taken temporary home in the central Promenade, a short walk from the Congress Center where the main events were held. Trieste, Italy Bangkok, Thailand In line with the pervasive mood at Davos, Mr. Greco said that we are happy that we are coming back to normality and that "the world is starting to be tired of discussing crises and defaults, and actions for emergency management", talking in the interviews to the financial television networks CNBC and Bloomberg, which are covered the World Economic Forum real-time. This year s caucuses have shown increasing optimism and renewed vigor. "There are positive animal spirits coming back in the boards and people are looking forward to having better times", said Mr. Greco. "I expect a very tough year, but a normal year", said Mr. Greco. "It would not be a nice journey, but it would be much more normal than in the past years." According to the Group CEO, the priority in 2014 is "to reactivate growth, particularly in Europe" and, with specific regard to the insurance industry, "the insurance business has been performing quite well in 2013 and we hope that this will continue, we forecast this to continue in 2014". Many business leaders convened in Davos had the chance to speak with Generali s representatives about the development made by the Group during last year. "So far the progress has been good - Mr. Greco pointed out in a live interview on CNBC, - and I think by doing this the company will return to a very strong shape". Please click to watch the two video interviews below: 5