Launch of A2A, Generali Global Corporate & Commercial and Aon partnership: a new insurance solution geared to ESG objectives
19 July 2022
Milan, 19 July 2022 – A2A, Generali Global Corporate & Commercial (GC&C) and Aon have signed an agreement to create a General Civil Liability insurance solution linked to attainment of five sustainability objectives – relating to workplace health and safety – and developed around the “Social factor” of the Environmental, Social, Governance (ESG) criteria.
Under the partnership, Generali GC&C will provide A2A with support for optimal risk management. With the contribution of Aon, which collaborated on the definition of the indicators and insurance mechanisms correlated to attainment of the sustainability objectives, Generali GC&C Italia and A2A have established a number of KPIs. They include: inspection visits to A2A Group worksites; access to A2A's health training initiatives and employee safety training; the percentage of orders given to suppliers assessed with ESG indicators; checks on the number of Group companies that maintain ISO45001 certification.
The new solution will act as an incentive for A2A to set increasingly challenging targets for continuous improvement of workplace health and safety. In line with the 10-year business plan of the Group headed by Renato Mazzoncini, the objectives linked to the insurance tool confirm that sustainability is a business strategy driver and strengthens A2A’s commitment to caring for people's lives: employees, suppliers and stakeholders.
Franco Franzoso, Head of Generali Global Corporate & Commercial Italia, said: “Sustainability means designing, developing and measuring business activities from the perspective of the great challenges we are facing.
The Company seeks to be an impact-led innovator and transformer through the creation of an Impact Strategy based on the deliberate, measurable and additional creation of positive social and environmental value for Generali. This is the purpose of this initiative: better risk management to improve workplace safety, promoting the sustainability and solidity of the company, as well as of the employees, suppliers and all stakeholders. For this reason the mechanism also envisages a contribution from Generali in the area of training, to consolidate virtuous practices that enable value creation over the long term.”
Patricia Gentile, Chief Financial Officer at A2A, said: “With this initiative, the A2A Group extends its range of tools incorporating sustainability to insurance. Backed by our experience in issuing bonds and credit facilities linked to ESG objectives, with this first Sustainability-Linked policy we are taking another innovative step in sustainable finance.”
Andrea Parisi, CEO of Aon S.p.A., added: “We are proud to have been involved in the development of this policy, which combines social sustainability with the Group's economic sustainability, demonstrating that a different way of doing business is possible.”
Generali Country Italy and Global Business Lines is the largest unit in the Generali Group, the leading retail insurer in Italy and a major worldwide player in insurance for large corporate clients. Through the Generali Global Corporate & Commercial and the Generali Employee Benefits units, it offers medium-large companies modular customised P&C insurance solutions (damage to property, engineering, transport, aviation, cyber and specialty risk) as well as life assurance, healthcare covers, pension plans for local and expat employees of multinational organisations in more than 160 countries around the world.
Global Corporate and Commercial (GC&C)
GC&C provides P&C insurance and service solutions to medium-large companies and brokers in over 160 countries around the world. Thanks to its solid global experience and knowledge of local markets and the corporate sector, it offers integrated, customisable insurance solutions in property, casualty, engineering, marine, aviation, cyber and specialty risks. Through its Multinational Programs, Claims and Loss Prevention experts, GC&C guarantees the same level of assistance and protection for companies all over the world. In 2021, GC&C reported gross written premiums of € 2.5 billion.
A2A is the Life Company that deals with the environment, water and energy, the conditions necessary for life. It takes care of people’s well-being and the environment with an offer of essential services that respect the principles of long-term sustainability by leveraging expert skills and cutting-edge technology. Listed on the Italian Stock Exchange, with over 13,000 employees, the Group manages the generation, sale and distribution of energy and gas, district heating, the waste cycle, electric mobility and smart services for cities, public lighting and the integrated water service. Sustainability is at the heart of A2A's industrial strategy, one of the first companies to have drawn up a policy inspired by the 17 goals of the UN 2030 Agenda. In order to promote Italy's sustainable growth and make the energy transition and the circular economy practical realities, its ten-year business plan envisages investments of € 18 billion in projects aligned with the UN Agenda.
The mission of Aon plc (NYSE: AON) is to help shape decision-making to safeguard and enrich people's lives. In more than 120 countries, our colleagues provide consultancy services and solutions to provide clients with the clarity and confidence they need to make better decisions and to protect and grow their businesses. Follow Aon on Instagram and LinkedIn. Keep up to date by visiting our website www.aon.it