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Introduction

B. Real Estate Asset Management and Insurance business

Insurance objectives and Asset Allocation

  • Global real estate investment focuses on two areas: own use assets and investment properties

  • Real Estate asset management focuses on investment portfolio to deliver performance

  • The real estate assets of the Group provide the insurance business with a specific asset class in the company portfolio and are used to cover life and non-life technical reserves

  • The investment and management policies of the Group real estate assets are coherent with the insurance business requirements:

Life: Recurring income properties to support yearly income return Assets with long-term value creation N o n - l i f e : P r o p e r t i e s w i t h v a l u e a p p r e c i a t i o n t o m a x i m i z e r e t u r n o n c a p i t a l

Investment strategy – Key drivers

  • Recurring income and value creation

  • Positive RE yield spread vs. bond

  • Inflation hedging

  • Long-term capital protection

  • Creation of latent capital gain

  • High quality tenants

Assicurazioni Generali Group – Investor Day 2010 – Investment Management of Insurance Assets

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