Generali Worldwide Group 2008 Generali Worldwide Group Guernsey – A natural home Mel Carvill November 2008 Innovative Risk Solutions

Generali Worldwide Group 2008 The Generali Group – Overview Deep Roots For nearly two centuries Assicurazioni Generali S.p.A has been a leading provider of insurance and financial services to a global market. Security and Protection Operates in all branches of insurance, from simple household insurance to the complex needs of multi-national organisations. Financial Strength Largest insurance group in Europe by market capitalisation and the 34th largest company in the 2008 Global Fortune 500 ranking, with assets of over €400 bn. At home throughout the world Generali operates in over 40 countries, servicing over 54 million clients and employs over 80,000 people.

Generali Worldwide Group 2008 Generali Worldwide Group – Overview A specialist arm of the Generali Group Based in Guernsey, offering sophisticated life insurance-based wealth management and employee benefit solutions across the globe. Three companies The Generali Worldwide Group (Guernsey) incorporates: A broad range of clients Including multi-national organisations, international expatriates and certain local resident populations.

Generali Worldwide Group 2008 Generali in Guernsey – A Brief History Assicurazioni Generali S.p.A established a branch in Guernsey Generali Worldwide acquired Sun Alliance International Life (later became Generali International) Established international healthcare business in the Caribbean 2003 to 2008 Aggressive expansion of all business lines, employing over 250 people across the globe Generali Worldwide established

Generali Worldwide Group 2008 Generali in Guernsey – Balance Sheet Growth Balance Sheet Value bn 3.1bn 3.9bn* bn 105% * Projected figure 1.9bn 2002

Generali Worldwide Group 2008 Generali in Guernsey – Annual Premium Growth Individual Business Annual Premium Growth m 143.4m 394.4m m 265%

Generali Worldwide Group 2008 Generali Worldwide Group – Licensed Locations Ireland Guernsey & Jersey Cyprus Hong Kong Cayman Staff Total 272 Guernsey 126 Ireland 117 Cyprus 7 Hong Kong 22 Bahamas

Generali Worldwide Group 2008 Guernsey – Key Selling Points International Credibility Fiscal Neutrality Regulatory Innovation

Generali Worldwide Group 2008 Guernsey – International Creditability Reputation as a first class International Financial Centre Europe’s captive insurance capital CISX approved by – FSA, SEC, IOSCO & ICMSA IMF ‘03 assessment – ‘a high level of compliance' Political Stability

Generali Worldwide Group 2008 Guernsey – Regulatory Innovation Policyholder protection – one of tightest, internationally One of first financial centres to regulate fiduciaries ICCs World pioneer – PCCs AML laws and regulation ’99 & ‘07 Enhanced trust law ‘07 Enhanced company law ‘08 Guernsey Registry – most advanced, quickest & lowest cost

Generali Worldwide Group 2008 Guernsey – Fiscal Neutrality No Guernsey tax on exit / encashment TIEAs continue to be signed up Gross roll-up on investments EU Savings Tax Directive compliant

Generali Worldwide Group 2008 Solution in Practice – CGIAR The Consultative Group on International Agricultural Research (CGIAR) was created by the World Bank in 1971 in conjunction with the United Nations to prevent famine in the third world and developing countries. The organisation provides a comprehensive employees benefits package for active and retired employees. The Challenge The Organisation wished to provide a uniform but flexible range of benefits to its members across the globe. The ability to customise the offering and investment choice to their specific needs, while having the solution centrally administered were key decision criteria. The Solution Generali Worldwide was able to offer a seamless solution, covering both risk and investment aspects of Employee Benefits. Key Selling points Pedigree of Generali. Reputation of Guernsey. The range of investment options Generali could offer under the Guernsey regulatory framework. The ability to manage the global requirements from a single international financial centre. Result Generali Worldwide currently administers a multi-million dollar programme for over 1,000 members in over 20 centres around the world.

Generali Worldwide Group 2008 Summary – Guernsey Innovation Well respected - a cut above the rest Large enough to matter - a force to be reckoned with Small enough to innovate - with a proven track record Generali Worldwide Group … Guernsey - a natural home