Organisational overview and external environment

• Value creation

Key observations:

In pinpointing the circumstances under which the organisation operates as well as the inputs and outputs-outcomes which it relies on, the Generali’s Annual Integrated Report depicts comprehensively its value creation system. An image is presented in which the five primary contextual opportunities and risks (“New Customer Behaviour”, “Social and demographic change”, “Environmental challenges”, “Regulatory developments” and “Uncertain financial and macro-economic landscape”) are identified and frame the business model (International <IR> Framework, para. 4.6). In a similar vein, the material inputs and outputs-outcomes related to each of the six capitals are detailed. A description of the contextual opportunities and challenges, of the business model and of the inputs and outputs-outcomes of each capital is illustrated in the following pages.