Sustainability Report 2019

Letter from the Chairman

Letter from the Chairman

Thinking about tomorrow, today: there is no more suitable expression to synthesise the philosophy of sustainability.

By definition, being sustainable means looking to the future, being confident and committed to preserving the value created and generating it again.
Let us not forget that the insurance business arose with the aim of protecting and preserving value, so that it can be safely handed down for the benefit of the generations to come.

That is why Cattolica’s business is directly in line with the new frontiers of sustainability, and is fully aware that the same are not limited to that which is highlighted by income and financial results.

We have always tried to consider the future in our business, and create the conditions for it to offer prospects for longlasting development for people and the community.

We work in the present so that tomorrow is better and can be confidently lived. I am convinced that in our sector, responsible management is also the premise on which long-term success is built.

I am referring, for example, to the relationship with the customer, which very often lasts a very long time, sometimes decades. The most authentic core of this daily work is to
support and advise current and potential customers when they choose us as their reference company, or approach us for their safety and protection needs.

But we also know that an increasing number of people are sensitive to the way in which, as an economic player, Cattolica conducts its business and makes its contribution to the development of society, the territory and to the protection of the environment.

The ultimate base of our action must therefore lie in a system of modern values and founding principles that are often, and rightly, referred to in the Non-Financial Statement; operating in a sustainable and responsible manner is only a natural corollary of this value structure.

Social responsibility must first and foremost be expressed in our core business: insurance products and solutions that help people and businesses implement their projects and make them feel safe and protected.

However, we want to go beyond this and take initiatives that go over and above the scope of institutional operations.

We do this by offering various forms of support to projects that promote the centrality of the person and his/her development, both inside and outside the Group.

Every year we compare ourselves to that which has been achieved in the past, and above all, what we are able to do: this is how we contribute to the common good with transparency, comparability and evaluability.

And once again the Sustainability Report is the synthetic but exhaustive representation of the initiatives that Cattolica has implemented, as well as the constant dialogue with stakeholders who have growing expectations of us.

Those who know me well know how much importance I have always given to the relationship and ties that Cattolica can and must establish with the reference territories.

I believe that the success of future models of society an business must be sought in innovation, in the ability to rethin products and services, but also in forms of social coexistence that are more attentive to people.

It is a concept of sustainability that is measured in the cohesion of a community and in the quality of life of all its members, no one excluded. I am convinced that a cooperative like Cattolica is in a privileged position and internally has all the ethical, human and managerial qualities to assume this responsibility.

Paolo Bedoni

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Letter from the General Manager

Letter from the General Manager

We have reached the end of the second year of the 2018- 2020 Business Plan and we are pleased to note that much as been achieved in this period of great activity and dynamism for the Cattolica Group. Our evolution continues and our efforts are increasing, both in terms of innovation and competitive strategy and in the field of corporate responsibility, of concrete and tangible sustainability.

The Company’s choices converge towards a clear and coherent goal: to contribute to the construction of a positive scenario for customers, individuals and the community.

It is the result of daily work, constant dialogue with internal and external players, the search for more effective business solutions in the present, but with a perspective capable of interpreting and anticipating the signals that foreshadow the new.

It is an effort that focuses on the concepts of change and transformation, on the updating of products and services, but also on the ways in which individuals work and feel like part of a large organisation. I believe that the ability to inspire and motivate people is still one of the most important human and managerial qualities, decisive for anyone who wants to harmonise their individual ethics with the social responsibility of the company in which they operate.

I believe that trust - and therefore the ability to generate and spread trust - is one of the essential ingredients of a concept of sustainability that goes beyond the achievement of one or more measurable objectives, however important and worthwhile, and has the ambition instead of carrying out a cultural transformation within companies and civil society.

Almost all recent studies in the area of social responsibility show that people trust companies less and at the same time demand greater efforts and results from them. Sustainability becomes a non-negotiable aspect for customers and consumers, a value that an organisation must be quite able to demonstrate in the field.

The new Code of Corporate Governance of listed companies which will enter into force in 2021 has fully implemented the emerging issues on these topics, promoting companies’ adoption of strategies oriented towards sustainability and assigning top management with the task of pursuing “sustainable success”.

This is a real paradigm shift, and in this scenario the Group has the skills and energy to play a leading role. I have strongly supported Cattolica’s subscription to the
Principles for Responsible Investment promoted by the United Nations and its full support for the principles themselves and the philosophy that inspires them; a commitment that we will try to make evermore substantial and visible in future investment activities. The Non-Financial Statement also includes the trace of a path that has already been started and that we want to continue to the best of our ability.

If companies today have a growing responsibility in caring for and defending the planet, in preserving the social fabric and in people’s lives, the many initiatives that we are implementing this year also seek to reaffirm our idea of sustainability and the role that we continue to pursue as a responsible company, with that combination of ethical idealism and concrete and laborious entrepreneurial vision that distinguishes us.

Carlo Ferraresi

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Materiality Analysis

As early as 2017, Cattolica identified the material issues, i.e. the topics of particular importance from a social, environmental and economic point of view, and therefore priorities for the Group and its stakeholders. For the purposes of the 2019 NFS, the materiality analysis was updated through a workshop that involved a working team composed of top managers, executives, department managers and other professional figures. In addition, the analysis included the results of the stakeholder engagement activities.



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 2019
Generated economic value   879.1 1,183.1 1,179.9
Distributed economic value   792.4 1,009.4 1,022.3
Economic value withheld   86.7 173.8 157.6
Employees   193.6 204.7 213.1
Agents and intermediaries   488.8 621.8 637.9
Shareholders (1)   26.3 40.4 36.1
Funders   12.5 39 41.2
Public Administration   64.4 94.1 85.9
Community   6.6 9.5 8.1
(1) With reference to the shareholder data for 2019, the Board of Directors has reserved the right to formulate, using the Decree “Cura Italia”, its proposal for the allocation of the profit during and at the time of the convocation of the Shareholders’ Meeting for the approval of the financial statements, providing appropriate information.

What we have done



Adoption of an Environmental Policy related to the Ca’ Tron Agricultural estate, focused on principles and guidelines for the sustainable management of this important asset of Cattolica.



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



Subscription to the Principles for Responsible Investment of the United Nations (UNPRI).



Definition of training activities for employees on CSR issues, to spread a culture of sustainability throughout the company.



Start of a path towards carbon neutrality, by adopting internationally recognised standards, that involved TUA Assicurazioni as project’s pilot company.



Training and induction activities for Directors and Top managers on CSR and ESG issues as part of the “Training of administrative bodies of Group companies” cycle.



Strengthening of stakeholder engagement activities for 2019, thanks to the involvement of a customers’ sample and an increase in the number of agents and employees consulted.



Approval of the Group Environmental Policy.