Insurance solutions for climate change and societal resilience

The Group’s commitment to mitigating the effects of climate change is reflected in the identification and ongoing development of insurance solutions that offer covers and services to customers with habits, behaviors or activities that respect the environment and/or contribute to reducing emissions and mitigating climate impacts.

As a responsible insurer, we confirm our commitment to support the climate transition by increasing premiums from climate insurance solutions by 8-10% CAGR in the period 2024-2027.

Climate insurance solutions - identified according to an internal classification as those that contribute most to climate change mitigation - can be grouped into the following categories:

• green mobility: products that offer covers and services dedicated to sustainable mobility and/or with a reduced environmental impact, including covers offered to customers who, through their driving behavior, can contribute to reducing CO₂ emissions. This category includes insurance products dedicated to electric and hybrid vehicles, those that reward customers with low annual mileage and responsible driving behavior, thanks also to the use of telematic devices, or those designed for other means of transport, such as bicycles and scooters.
• renewable energy: these are products covering risks related to the production of renewable energy. Policies covering renewable energy production equipment guarantee reimbursement for damage caused to solar panels, photovoltaic panels or similar systems, which can be supplemented with guarantees to protect against loss of profit resulting from the interruption or reduction of electricity production.
• energy efficiency: these are products designed to cover energy efficiency measures in buildings. In some cases, advice is provided to customers to identify opportunities to optimize consumption and thus reduce environmental impact.

In 2025, premium of € 2,223 million were collected from climate insurance solutions, highlighting an increase of +22% vs 2024.

With the Lifetime Partner 27: Driving Excellence strategy, the focus is in particular on pension, protection and health insurance solutions that promote and strengthen social inclusion in the demographic evolving scenario, to be addressed with renewed interest to the mostly underserved and therefore more vulnerable segments of the population, such as women, young people, the elderly, families, and migrants/refugees.

Three main areas of potential gap have been identified:

• pension gap to be faced with pension products structured to provide a source of profit in addition to the public welfare system, therefore to support needs in old age after retirement.
• life protection gap to cope with the financial impact of death, disability, critical illness or need of long-term care.

• health protection gap to be faced with products that replace or supplement public health services, aimed at covering the costs of care and assistance, or the reduction of customers' income in the event of serious illnesses or non-self-sufficiency.

As a responsible insurer, we are committed to identify and develop insurance solutions to address demographic changes also leveraging the foundation of a dedicated Demographic Hub. This commitment is reflected in the ambition to increase the New Business Premium (NBP) by 6-8% CAGR in the period 2024-2027.

In 2025, new business premiums (NBP) for pension, life and health protection insurance solutions for underserved customers amounted to € 3,517 million, highlighting an increase of +9.6% vs 2024.