Sustainable insurance

The Intesa Sanpaolo Vita Insurance Group integrates ESG factors in the various business areas in which it operates in compliance with regulatory requirements and consistent with the objectives of the 2022-2025 Business Plan, with the commitments undertaken by joining the Net- Zero Asset Owner Alliance, the Net-Zero Insurance Alliance, the United Nations PSI (Principles for Sustainable Insurance) of the United Nations and with the principles defined by other international initiatives, including the Global Compact of the United Nations and the Equator Principles, to which the parent company Intesa Sanpaolo has adhered and which are part of the achievement of the Sustainable Development Goals of the UN Agenda 2030 (UN Sustainable Development Goals)

UN SDGs SUPPORTED

For the Life business, in 2023 the Group updated the Insurance Group Policy for the integration of ESG sustainability factors in the investment process, strengthening the effectiveness of the ex-ante controls of the investment strategy and providing for a further extension of the exclusion lists for critical issuers and those operating in sectors deemed not socially responsible.

As for products, the commitment to offer customers an increasingly wider choice of investment options classified in articles 8 and 9 pursuant to EU Regulation 2019/20881 (SDFR). In the "Savings and investment" category, all product types have been enriched (Unit-Linked, Multi-branch, Branch I). For Unit-Linked and multi-line companies, at Insurance Group level, the percentage of investment options classified in articles. 8 and 9 of the total investment options available in the products open to new subscriptions went from 72% at the end of 2022 to around 80% at the end of 2023. Some proposals are aimed at particular customer segments, such as "Tu dopo di noi - You after us ” for family members of disabled people who want to protect their loved one for the future with a secure capital or a certain income or “Polizza Riservata - Reserved Policy” for the Third Sector world.

Through the products of the Non-Life business, the Insurance Group promotes greater attention to sustainability through products such as Auto ViaggiaConMe with mileage consumption, which allows you to save on insurance premium by reducing the use of the car, or XME protection, which for the home integrates the traditional coverage with the possibility of protection in the event of natural disasters and for health provides dedicated coverage for those over 65 and up to 90 years of age for the hospitalization and interventions module. And with the Caregiver module, it covers the risks deriving from unforeseen events (illness, injury or inability to return from a trip) that prevent the caregiver from carrying out their non-professional assistance activity for their loved ones over 65, making socio-health workers available and welfare services that provide help to the insured to ensure continuity of benefits.

For small and medium-sized businesses, the Business Protection offer includes coverage dedicated to climate risks to protect against natural events not due to catastrophes and civil liability for damage to property resulting from air, water and soil pollution.

Environmental RC allows coverage for civil liability deriving from damage to the environment that the company may cause in relation to the activity carried out. The subscriber undertakes to comply with basic technical requirements which represent best practices in managing environmental risks and companies are thus incentivized to improve the management of their risks.

In the context of health protection, the Collective Accident Policy in professional and non-professional activities also extends protection to categories of workers who are traditionally not insurable, such as interns, trainees and staff with collaboration contracts.

The Intesa Sanpaolo Vita Insurance Group joined the Net Zero alliances in December 2021 and, as requested by the Net Zero Asset Owner Alliance (NZAOA), has committed to bringing greenhouse gas emissions from the investment portfolio of the Group companies to zero by 2050 through the definition of specific intermediate objectives on the portfolio (for example in terms of carbon intensity), engagement activities with the main counterparts to develop and promote transition paths and incentives for the financing of the climate transition and new green technologies.

The first intermediate climate objectives for the investment portfolio were published in October 2022 and are reported, together with the results achieved and the activities carried out, in the 2023 Climate Report of the Intesa Sanpaolo Group.

¹ Products are classified as art. 8 if they promote promotes, among others, environmental or social characteristics, or a combination of such characteristics, provided that the companies in which the investments are made respect good governance practices; are classified as art. 9 if they target sustainable investments and an index is designated as the benchmark or an explanation is given of how the investment objective is achieved.