Risk culture

Generali provides training sessions to the Board of Directors and Board Committees to support its effective oversight. During 2025, the Board was provided with four induction sessions, including one session on Risk Appetite Framework and introduction to the Group’s Strategic Asset Allocation and Investment Strategy.

For further information please see Board of Directors, “Training” section

The Group has established a comprehensive training portfolio available to all employees, with the aim of building awareness on risk management principles and mitigating the main operational and compliance risks the Group is currently exposed to. The courses address key topics such as Data Protection, Financial Crime, and IT Security. They are available in all Group languages and can be assigned by local entities based on specific risk exposure.

For further information please see Internal Control & Risk Management System, "Group Risk Map" section

Risk criteria are key components of the product development processes. Insurance products must be developed in line with the principles defined by the Group risk appetite and strategy, to ensure consistency with the Group’s risk profile.

For further information please refer to Annual Integrated Report 2025, “Risk profile” section

Generali incorporates risk-adjusted indicators into its incentive framework, including Return on Risk Capital (RORC), relative Total Shareholder Return (rTSR) and Net Holding Cash Flow (NHCF), and applies specific risk thresholds through the “Group Gate” mechanism. The Risk Management Function regularly assesses the consistency of the incentives system with the Group Risk Appetite Framework (RAF).

For further information please refer to our Remuneration Report 2025, “Risk & Reward Alignment” section