Board resolution

Trieste - At a meeting today chaired by Gabriele Galateri di Genola, the Board of Directors of Assicurazioni Generali, at the request of Ivass and in light of new circumstances and facts, has examined the findings of the Risk and Control Committee in relation to certain alternative investments carried out in the past. Also, at the request of Ivass, the Board of Directors has also analyzed the assessments of the Remuneration Committee relating to the financial compensation attributed to the former Chief Executive Officer, Giovanni Perissinotto, and former General Manager, Raffaele Agrusti, under their exit agreements. 

In light of the above, the Board has decided to mandate the Group CEO Mario Greco to immediately start the appropriate legal compensation and responsibility actions before the employment tribunal against both Giovanni Perissinotto and Raffaele Agrusti.

Therefore, in order to protect with maximum speed and efficiency the financial interests of the Group, the Group CEO has been given the authority to undertake legal proceedings, before the employment tribunal, aimed to challenge and contest the settlement agreements reached with Giovanni Perissinotto and Raffaele Agrusti, to cancel the rights granted to Mr. Agrusti by the Company, to recuperate the amount paid to Mr. Perissinotto, and – for both –to claim damages arising from non-performance in the execution of their duties as employees of Generali. To this end, any appropriate measure, initiative or action will be pursued.

Based on the information and knowledge of facts currently available to the company, the Board of Directors also resolved that any further initiative, before the competent courts, aimed at recuperating all damages suffered remains unprejudiced.