2018 Sustainability Report

Letter from the Chairman

Letter from the Chairman

In recent years, the concept of corporate social responsibility has been profoundly transformed and multiple interpretations have succeeded about the true meaning of the word “sustainability”. A new code of “knowing to be business” has also been established - which is especially valid for a company with our tradition – a necessary tool to harmonize with effective strategies, within a context in which the values of entrepreneurial organisations, required by law to report on their vision for the future, are affirmed and renewed.

The Sustainability Report which you are holding aims not only at representing the initiatives, the objectives and the targets achieved by Cattolica Assicurazioni in the realm of sustainability, but also at making our stakeholders truly active and involved partners, each one with their peculiar requirements and expertise, of a truly conscious business development adventure.

Capturing the raison d’être of a sustainable path, moreover, is nothing more than becoming embedded in the multiple changes of today’s social-entrepreneurial organisation, by protecting a coefficient of future growth, no trace of which can be found in the profit and loss statement.

As Cattolica, we’re aware that the best part of a company’s operations is represented by the relations that it manages to trigger with the community of which it is part. Such a bond isn’t just limited to the people who work every day in one of our offices or branches, but it also involves the ways the work of each colleague is perceived to the outside world and impacts it. This view, focused also outside of ourselves, translates into the desire to grow together with our territory of reference and to read and interpret its needs and opportunities.

In an age in which the entire social construction and the behaviours that ensue appear to be founded on the denial of a sound system of values, I believe that the most compelling project is to reaffirm and reinforce a scenario truly anchored to a set of principles, validated by our history and our tradition.

Our foundations are solid, our by-laws are rooted in the Social Doctrine of the Church and from this derives the centrality that we, from both an ethical duty and a firm conviction, attribute to the individual and its qualities. These two aspects, if enhanced, can effectively determine the success of a company.

The core question concerns the thorough understanding and internalizing our roots even more, by grasping in full the relevance and the natural complexity of maintaining a company project unique of its kind. We know that it is also the natural consequence of the good work performed over the years, of a strengthening of our Company achieved through courageous choices that turned out to be successful. It is also thanks to these choices that the Company, today, can think of deploying a more complex and structured strategy of sustainability, capable of generating positive effects on multiple fronts where economic, social and environmental topics find themselves living together in balance, offering greater advantages than if they were considered individually.

There are corporate projects that turn out to take a place in history, as they get in touch with currents and tensions the circulate beyond any legal obligation, since they are more connected to a deeper way of being and understanding the world than to formal and legal obligations. They are disruptive examples that change the current balance, striving to affirm a new one. We can say with pride that we have chosen this path.

We are a cooperative company: social responsibility is inherent in our corporate model. This is what distinguishes us in the market. With our Fondazione, which I have the honour of chairing, we have undertaken a mutual challenge: the Fondazione follows its projects with entrepreneurial attitude while the Company feels the duty to manage its business with social responsibility. This is the secret of our being an enterprise. 

Paolo Bedoni

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Letter from the Managing Director

Letter from the Managing Director

By launching the 2018-2020 Business Plan, the Cattolica Group has gone to the heart of one of the most important transformations of its long history. We are rapidly evolving from a traditional business, founded on classic insurance solutions for a relatively homogeneous clientele, to a modern data-centric company offering a rich, customized range of solutions, addressed to a broad and mixed client target, a strategy requiring transparency, speed and a thorough customer care.

We took on with faith the challenge of increasingly dynamic markets, in which national and international competitors operate, fortified by our more authentic values and the inner cohesion on achieving common objectives.

Cattolica’ founders had the deep conviction that lasting success of the cooperative had to reside in the strength and vitality of the bond with the territory and communities served. After over a century, we not only believe even more deeply in that essential symbiosis, but we have expanded our horizons to embrace the philosophy of sustainability in the broadest sense.

As Cattolica, we believe in courageous choices and in a transparent and loyal relationship with our stakeholders. Our long-term vision focuses on the innovation of products and solutions, at the same pace with the evolution of the corporate culture yet remaining faithful to our more genuine identity.

Thanks also to the definition of an ambitious but feasible sustainability strategy, we are trying to perform - wherever an opportunity arises - actions capable of creating positive effects and triggering further projects to the benefit of the Company.

We explore new opportunities without losing sight of the deep roots which make us different and recognisable in the eyes of those who have already chosen us and the ones who get in touch with our organisation.

We are aware that the quest for an increasing transparency of business is now a principle felt both in the economic community and, to an even greater extent, within civil society.

The expectations towards corporations are rising, and such a trend is even more relevant for the financial services industry, which can and must be in the forefront of supporting the changes of the economic, social and environmental world scenario.

We feel intensely the need to enhance our positive impact on the stakeholders of reference and to effectively communicate the results that we achieve.

We started last year by applying the new rules provided by the European Directive of Non-Financial Information and we have captured their implications to start the set-up of an adequate governance of the CSR Department. This Consolidated nonfinancial statement, the second to meet the new legislative requirements, expands and improves the previous work and aims to represent in detail the initiatives, goals and progress achieved as far as sustainability is concerned.

Last year I emphasized the importance of a long-term vision. I want to stress once again this idea, a central landmark of my entrepreneurial view: only a perspective that goes beyond the short term validates and makes the pursuit of significant goals possible, avoiding compromise solutions and façade commitments.

The increasing focus that the Group places on sustainability is also proven by the fact that, for the first time, a part of the variable remuneration of some top managers - including the Managing Director - is directly linked to the achievement of objectives focused on the corporate social responsibility.

My hope is that we achieve what a well-known scholar recommended, when he stated that “the CSR should not be conceived as one way to run a business among any other, but as the premise and the institutional frame within which to run a business”.

I believe that the acquisition of this mindset and this attitude is the ultimate goal which we must focus on with commitment and conviction.

Alberto Minali

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Letter from Communication and Public Affairs Director

Letter from Communication and Public Affairs Director

A growing number of corporations are working on integrating sustainability in every phase of the production process and at every decision-making level.

Starting to measure the impact caused to the stakeholders under the lens of corporate social responsibility is the necessary premise, even though a not sufficient one, for a long-term approach that can combine economic efficiency and social sensibility.

A sustainable business model is an increasingly decisive factor, both in terms of differentiation within comparable organizations and the development of new competitive advantages or the defence of existing ones.

Starting last year, Cattolica decided to undertake this evolutionary path, aware of the complexity of the goal yet committed to pursue it. The sustainability strategy must aspire to a real integration with the business model: a missed or just partial integration makes non-financial reporting barely effective and significant and the sustainability policies not very substantial.

There are still relatively few companies capable of embedding the philosophy of sustainability at every organisational level and along the whole value chain, to achieve a concrete effectiveness, which goes beyond the critical threshold of significance.

One of the objectives which we focus on most is making Cattolica a company able of having a positive impact on all the stakeholders, by contributing to their well-being thanks to an integrated business model.

It is neither a vague social and environmental sensitivity nor a form of old-style philanthropy: we want to work to the best of our abilities on all the drivers available. The understanding of these impacts can in turn reinforce our sustainability model for the coming years.

We are moving fast from a sustainability in real time to a design with a wider breath, which aspires to anticipate strategies and goals thanks to an increasing focus on the requests - old and new - which we are asked. The best companies have defined targets, they reflect on the best ways to understand and enhance their strengths and know how to identify the solutions to deploy at best policies and operating choices to the benefit of the stakeholders. We strive to be one of these companies and we are working hard in this direction.

Emanuela Vecchiet

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Materiality Analysis

The materiality matrix is the methodological tool that is commonly used in international best practices, that Cattolica has adopted and intends to fine tune to make it more detailed and reliable in the future. As for sustainability reporting, the material – i.e. substantial - aspects are the economic, social and environmental elements which are significantly affected (in a positive or negative way) by the Company and that may have a substantial influence on the decisions and opinions of stakeholders. Accordingly, the materiality analysis takes into consideration not only the organisation’s point of view, but also the stakeholders’.



Investments for
mln €
Hours provided
Total disbursements over
mln €

Data and Graphics

The data can be consulted by choosing a view option (graphic or table), the set of indicators of interest and the period by selecting years from the drop-down menu. To view the numerical data, simply click on the histogram bars.

By clicking on the indicators in the key under the graphic, it is also possible to remove them from the view.

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    2017 2018
Generated economic value   879.1 1,183.1
Distributed economic value   792.4 1,009.4
Economic value withheld   86.7 173.8
Employees   193.6 204.7
Agents and intermediaries   488.8 621.8
Shareholders   26.3 40.4
Funders   12.5 39
Public Administration   64.4 94.1
Community   6.6 9.5

What we have done


Establishment of the Committee for Corporate Governance and Sustainability through the expansion of the duties of the pre-existing Committee for Corporate Government.




Creation of an Inter-departmental to support the CSR unit, composed of one or several members of each of the corporate units involved, appointed directly by the Director/Manager of every unit.




Definition and structuring of an organisational process for the preparation of the Consolidated Non-financial Statement of the Group, in compliance with the legislation, of the consolidated best practices and the expiries of the internal financial calendar.



Definition of an environmental policy relative to the Ca’ Tron agricultural estate, which includes an analysis of the main environmental risks generated or suffered connected to the activities of the estate and the identification of environmental areas of improvement, approved on 07 March 2019.



Streamlining and expansion of the analysis and assessment activity of the sustainability risks, with a focus on the risk analysis according to the ESG criteria.




Streamlining of the materiality analysis and start of the stakeholder engagement activity, with the definition of an updating process of the materiality matrix on an annual basis, which in 2018 involved 3 main categories of stakeholders in the Company, which were employees, members and agents.



First adoption of the Sustainable Development Goals (SDGs) of the United Nations within the DNF, connecting the activities and initiatives performed during the year to the individual targets referable to the selected SDGs.