DOCSLIB.ORG

Remuneration Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Remuneration Report REMUNERATION REPORT 2017 CORPORATE GOVERNAN CE AND OWNERSHIP STRUCTURE REPORT A year hallmarked by transformation A unique pictorial symbol that incorporates the various corporate spirits within the evolutionary dynamic experienced by the Cattolica Assicurazioni Group. An industrial and cultural transformation towards innovation. SUSTAINABILITY REPORT REPORTS AND FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS REMUNERATION 2017 REPORT Drawn up pursuant to Art. 24 of ISVAP Regulation No. 39 dated June 2011, Art. 123-ter of the Consolidated Finance Law and Art. 84-quater of the Issuers’ Regulations. → CATTOLICA ASSICURAZIONI CONTENTS INTRODUCTION 5 4 - THE 2018 REMUNERATION POLICIES 23 4.1 Remuneration of the Directors and SECTION 1 7 the Control Bodies 24 4.2 Remuneration of “Personnel” 26 PRELIMINARY REMARKS 7 4.3 Remuneration of other individuals 30 1 - INTRODUCTION TO THE 4.4 Processes in the event of termination REMUNERATION POLICIES 9 of the employment contract 32 1.1 Definitions 10 4.5 Communication of the Variable 1.2 Reference principles and guidelines 10 Remuneration System 32 1.3 Scope of application 11 4.6 Audits on the Remuneration Policies 33 1.4 Identification of “Personnel” 12 4.7 Information for the General Meeting 34 2 - GOVERNANCE OF THE SECTION 2 35 REMUNERATION POLICIES 13 PRELIMINARY REMARKS 35 2.1 The General Meeting 14 2.2 The Board of Directors 14 APPENDIX 2 2.3 The Remuneration Committee 15 COMPENSATION PAID TO THE MEMBERS OF THE 2.4 The Control and Risks Committee 16 MANAGEMENT AND CONTROL BODIES, THE GENERAL MANAGERS AND OTHER MANAGERS WITH STRATEGIC 2.5 Senior Management 16 RESPONSIBILITIES 36 2.6 The Human Resources Department 16 2.7 The Control Departments 17 APPENDIX 3 2.8 The Planning & Management Control MONETARY INCENTIVISATION PLANS IN FAVOUR Departments, Administration, Actuary, OF MEMBERS OF THE MANAGEMENT BODY, THE Legal Affairs and Corporate Transactions, GENERAL MANAGERS AND OTHER MANAGERS WITH Secretary General 17 STRATEGIC RESPONSIBILITIES 45 3 - IMPLEMENTATION OF THE APPENDIX 4 2017 REMUNERATION POLICIES 19 SHARES OF THE MEMBERS OF THE MANAGEMENT AND CONTROL BODIES, THE GENERAL MANAGERS 3.1 Implementing Principles of the AND OTHER MANAGERS WITH STRATEGIC 2017 Remuneration Policies 20 RESPONSIBILITIES 47 3.2 Remuneration of the Directors and Control Bodies in 2017 20 3.3 Remuneration of “Personnel” in 2017 21 3.4 Remuneration of other individuals in 2017 21 3.5 Audits carried out by the Control Departments in 2017 21 3 → CATTOLICA ASSICURAZIONI INTRODUCTION Our Company is experiencing great and rapid change: a new Chief Executive Officer was appointed, several management positions have changed, and we have a challenging 2018-2020 Business Plan. This foresees the growth of operating profits above 60% and dividends up 50% compared to 2016 as part of increased capital solidity, together with reviewing organisational processes to make them more efficient and promoting digital culture. Moreover, the employment market and competitors show remuneration practices that greatly award competency and commitment. A trend appreciated and required by financial markets. In this context, the Board of Directors, with the favourable opinion of the Remuneration Committee and having heard the Control and Risks Committee, has decided to review the incentive systems currently in place and submit them to the General Meeting for the necessary deliberations, with the following objectives: • Guiding the performance of Top Management and any member of staff contributing at a high level to the achievement of the three-year Plan’s targets; • Rewarding annual performance, provided that the set targets are met; • Retaining talent already working for the company and attracting others from the market. 5 → CATTOLICA ASSICURAZIONI SECTION 1 PRELIMINARY REMARKS The Società Cattolica di Assicurazione, hereinafter “the Company”, by decision of the Board of Directors, with the favourable opinion of the Remuneration Committee, submits the Remuneration Report for the year 2017 for the approval of the General Meeting. This document is drawn up in accordance with the legislation and regulations in force, with particular reference to ISVAP Regulation No. 39 of 9 June 2011 (hereinafter the “Regulation”) and Art. 275 of Regulation (EU) 2015/35 on Remuneration Policies in insurance companies, and in accordance with CONSOB Regulation 17221 referring to related-party transactions and the Issuers’ Regulations issued by CONSOB in execution of the requirements of Art. 123-ter of the Consolidated Finance Law (TUF). The Report also follows the principles indicated by the latest version of the Code of Conduct for listed companies, and has the following structure: → SECTION 1: with reference to the Directors, the Control Bodies, the General Managers and other Managers, it reports on the implementation of the 2017 Policies as regards the remuneration of the individuals governed by the Regulation, and contains information about the principles and guidelines used by Società Cattolica di Assicurazione to determine the Remuneration Policy for the 2018 financial year, in addition to information relating to the procedures used for adopting and implementing that policy; → SECTION 2: is divided in two parts. The first presents each of the items that make up the remuneration; the second reports analytically on the compensation paid in the previous financial year, in any capacity and any form, by the Company and subsidiary and associate companies, using the tables appended to the Report, which form an integral part of the Report. Pursuant to Art. 24, paragraph I, let. d) of the Regulation, it is stressed that these Policies have been updated with respect to the version approved by the General Meeting in 2017, also in light of the instructions shared with the Control Departments. 7 INTRODUCTION TO THE REMUNERATION 1 POLICIES Remuneration Report 2017 → → CATTOLICA ASSICURAZIONI strategic responsibilities, must, therefore, be established Furthermore, in accordance with its history, the corporate INTRODUCTION TO THE by taking the requirement of a profitable and sustainable nature and the principles that inspire its activity, when management into account. Therefore, coherency of determining the Remuneration Policies, the Company also REMUNERATION POLICIES the Remuneration Policies with the Company’s risk aims to remember and respect the following principles: 1 management policy was ensured. • uniform salary compensation for equivalent roles and responsibilities and to protect differences of origin and Furthermore, coherency was ensured with the market gender; references encountered, both in terms of overall 1.1 DEFINITIONS • balance the corporate remuneration level with that of the positioning and pay-mix. In particular, with respect market of reference; to previous years the new Remuneration Policies For the purposes of these Policies, the following definitions are adopted (in alphabetical order): • progressiveness in applying the bonus system that guides greatly value merit and performance by reinforcing the performance and conduct carried out in the long term. → Senior Management - denotes the figures of the Chief → Long Term Incentive (LTI) - an incentive system based variable compensation systems for the entire company Executive Officer and the General Managers; on results achieved based on predefined long-term population. The above is in the conviction that by defining and objectives; → Bonus - value of variable remuneration, calculated as a applying Remuneration Policies consistent with the above To this end, the incentivisation plans envisage indicators that percentage of the GAS, paid once the objectives envisaged → Malus - a contractual clause that foresees the possibility principles, it is possible to: by the incentivisation plans have been reached; of not providing all or part of any matured deferred are aimed to guide the conduct of Personnel in relation to • contribute to creating long-term value for all stakeholders; variable remuneration, if, after the deferment period, the the sector’s typical risk types. Clawback - a contractual clause that provides for the • encourage the creation of long-term business strategies, possibility to request that all or part of the compensation established objectives were not achieved or there has The individuals subject to the Remuneration Policies must stated in the strategic/business plans; paid on the basis of results that were non-lasting or been a significant deterioration in the company’s capital or not use personal or insurance hedging strategies that may • safeguard the image and reputation of the Company, in effective due to malicious or seriously negligent conduct financial situation; alter or nullify the risk alignment effects included in the line with what is outlined in its own Code of Conduct; be repaid; Management by Objectives (MbO) - an incentive system → variable remuneration mechanisms. • motivate directors, managers and associates to respond related to results achieved based on the predefined annual → Code of Conduct - the Code of Conduct of companies with appropriate professionalism to the objectives that objectives; listed on the Milan Stock Exchange, in the version approved the Company sets, encouraging their full achievement. in July 2015 by the Corporate Governance Committee; → Personnel - denotes all individuals defined in letter f) of Art. → Deferment - postponement, in a predetermined time 2, paragraph 1 of ISVAP Regulation No. 39 of 9 June 2011; frame, of the payment
Load more

Recommended publications
  • Lista Società Italy
    Companies included in the Employer Branding Online Awards ‘Italy’ 2012 Company name Status A2A Listed ABB Italia Not listed Acea Listed Alitalia Not listed Allianz Italia Not listed Amplifon Listed Ansaldo STS Listed Armani Not listed Arnoldo Mondadori Editore Listed Assicurazioni Generali Listed Autogrill Listed Autostrade per l'Italia Not listed Avio Not listed AXA Italia Not listed Banca Carige Listed Banca Generali Listed Banca Monte dei Paschi Siena Listed Banca Nazionale del Lavoro Not listed Banca Popolare di Milano Listed Banca Popolare Emilia Romagna Listed Banco Popolare Listed Barilla Group Not listed Benetton Listed Brunello Cucinelli Listed Burgo Group Not listed Buzzi Unicem Listed Cattolica Assicurazioni Listed Coop Adriatica Not listed Costa Crociere Not listed Credito Emiliano Listed Danieli & co Listed Davide Campari Listed De Agostini Not listed De' Longhi Listed Edison Listed Enel Listed Enel Green Power Listed Eni Listed Erg Listed Esso Italiana Not listed Ferrero Not listed Lundquist S.r.l. – Piazza XXV aprile 1, 20121 Milan, Italy – Tel +39 02 4547 7682 – [email protected] Company name Status Ferrovie dello Stato Not listed Fiat Listed Fiat Industrial Listed Fincantieri Not listed Finmeccanica Listed Geox Listed Grimaldi Compagnia di Navigazione Not listed Gruppo Auchan Not listed Gruppo Menarini Not listed Gruppo PAM Not listed Gruppo Veronesi Not listed Hera Listed Hewlett Packard Italiana Not listed IBM Italia Not listed Ikea Italia Holding Not listed Impregilo Listed Indesit Listed Intesa Sanpaolo Listed Iren Listed Italcementi Listed Lottomatica Listed Lucchini Not listed Luxottica Group Listed Mapei Not listed Marcegaglia Not listed Mediaset Listed Mediobanca Listed Mediolanum Listed Nestlé Italiana Not listed Parmalat Listed Pfizer Italia Not listed Piaggio & c.
    [Show full text]
  • Relazioni E Bilancio Esercizio 2009
    Relazioni e Bilancio Esercizio 2009 ASSEMBLEA DEI SOCI DEL 24 APRILE 2010 114° ESERCIZIO I principali passaggi dell’esercizio IL SISTEMA IL GRUPPO DISTRIBUTIVO CATTOLICA LE PARTNERSHIP DI GRUPPO • Il Gruppo comprende Il 1° gennaio ha avuto effetto il trasferimento, • La raccolta premi del dodici società assicurative, sottoscritto in data 29 dicembre 2008, del ramo lavoro diretto è così tre società di servizi, una d’azienda composto da una rete di agenzie e dal relativo canalizzata: agenzie società di intermediazione portafoglio da UBI Assicurazioni a TUA Assicurazioni, 37,78%, banche 40,26%, mobiliare e due società per un controvalore di 4,3 milioni. L’operazione broker 6,82%, promotori immobiliari. conferma la volontà del Gruppo di rafforzare la propria finanziari 0,24% e altri capacità distributiva ponendo la massima attenzione, canali 14,9%. • La quota di mercato del anche in fase acquisitiva, al profilo di redditività e Gruppo si attesta al 4,12% solidità patrimoniale. • Le agenzie sono 1.463, nei rami danni, nei rami vita così distribuite: 54,8% è del 4,7%. Con effetto 1° gennaio si è avuto il trasferimento del nel nord Italia, 23,5% nel ramo d’azienda da EurizonVita a Cattolica Previdenza. centro e 21,7% nel sud e • I premi lordi consolidati Con questa iniziativa il Gruppo Cattolica si è dotato isole. alla chiusura dell’esercizio di un nuovo canale distributivo proprietario ad elevata ammontano a 4.098 milioni. specializzazione e qualità di servizio, formato dalla • Gli sportelli che veicolano Considerando anche i rete di consulenti previdenziali di EurizonVita che alla i prodotti dell’area contratti di investimento, data del 31 dicembre sono 419.
    [Show full text]
  • Elenco Compagnie Assicurative
    S&B EsseBi Insurance Broker S.r.l. 051521283 Sede Legale e Direzione: Via del Rondone 26/A | 40122 Bologna 051521928 Capitale sociale € 90.000,00 i.v. Partita Iva 04266280371 [email protected] C.F. e R.I./BO 08539670581 PEC [email protected] R.U.I. B00016136 www.essebibroker.it Elenco compagnie ex Art. 118 DLgs. 209/2005 Adempimento delle obbligazioni pecuniarie attraverso intermediari assicurativi. 1. Il pagamento del premio eseguito in buona fede all’intermediario o ai suoi collaboratori si considera effettuato direttamente all’impresa di assicurazione. Salvo prova contraria a carico dell’impresa o dell’intermediario, le somme dovute agli assicurati ed agli altri aventi diritto a prestazioni assicurative si considerano effettivamente percepite dall’avente diritto solo col rilascio di quietanza scritta. 2. La disposizione di cui al comma 1 si applica nei confronti dell’intermediario iscritto nella sezione del registro di cui all’Art. 109, comma 2, lettera b), esclusivamente se tali attività sono espressamente previste dall’accordo sottoscritto con l’impresa. A tal fine l’intermediario è tenuto a darne specifica comunicazione al cliente nell’ambito dell’informazione precontrattuale di cui all’articolo 120. COMPAGNIA ASSICURATIVA INDIRIZZO MAIL ABY BROKER S.R.L. AUTOMOTIVE INSURANCE BROKER S.R.L. VIA VALENZA, 5MILANO20144MI [email protected] AIG EUROPE LIMITED RAPPRESENTANZA GENERALE PER L'ITALIA VIA DELLA CHIUSA, 2MILANO20123MI [email protected] AIG EUROPE LIMITED BMI MARINE MGA SRL CORSO A. PODESTA', 8/1 SC.DXGENOVA16128GE [email protected] ALLIANZ S.P.A. GERENZA PADOVA EX BO VIA S.SOFIA, 37MILANO20122MI [email protected] ALLIANZ S.P.A.
    [Show full text]
  • Intesa Sanpaolo Research Dept. 12/01/2021 Equity Research Publications in Last 12M
    Intesa Sanpaolo Research Dept. 12/01/2021 Equity Research Publications in Last 12M Circulation Rating Target Price Mkt Price Rating Target Price Mkt Price Rating Target Price Mkt Price Investment Research Date Company or Sector Reason Primary Analyst/Team Secondary Analyst/Team (Ord.) (Ord.) (Ord.) (Sav.) (Sav.) (Sav.) (Priv.) (Priv.) (Priv.) Currency Horizon Office 11/01/2021 CNH Industrial Company Note Monica Bosio ADD 12.9 11.0 EUR 12M Equity 11/01/2021 COIMA RES Company Note Davide Candela Roberto Ranieri BUY 9.7 6.3 EUR 12M Equity 11/01/2021 Saipem Company Note Roberto Ranieri HOLD 2.5 2.4 EUR 12M Equity 11/01/2021 Daily Note Equity Research Team Corporate Broking Research 12M Equity Team 11/01/2021 Anima Holding Equity Daily - Comment Elena Perini, CFA BUY 4.6 4.1 EUR 12M Equity 11/01/2021 Cattolica Assicurazioni Equity Daily - Comment Elena Perini, CFA HOLD 5.4 4.5 EUR 12M Equity 11/01/2021 Finecobank Equity Daily - Comment Elena Perini, CFA HOLD 12.8 13.6 EUR 12M Equity 11/01/2021 OVS Equity Daily - Comment Luca Bacoccoli HOLD 1.15 1.13 EUR 12M Equity 11/01/2021 Poste Italiane Equity Daily - Comment Manuela Meroni Elena Perini, CFA ADD 9.7 8.6 EUR 12M Equity 11/01/2021 Saipem Equity Daily - Comment Roberto Ranieri HOLD 2.5 2.4 EUR 12M Equity 11/01/2021 SICIT Group Equity Daily - Comment Arianna Terazzi BUY 13.7 12.9 EUR 12M Equity 11/01/2021 Snam Equity Daily - Comment Roberto Ranieri ADD 5.4 4.7 EUR 12M Equity 08/01/2021 Daily Note Equity Research Team Corporate Broking Research 12M Equity Team 08/01/2021 Aeroporto di Bologna
    [Show full text]
  • Comunicato Stampa
    Società Cattolica di Assicurazione - Società Cooperativa Sede in Verona, Lungadige Cangrande n.16 C.F. 00320160237 – Iscritta al Registro delle Imprese di Verona al n. 00320160237 Società iscritta all'Albo delle Società Cooperative al n. A100378 COMUNICATO STAMPA AUMENTO DI CAPITALE: CONCLUSA IN ANTICIPO L’OFFERTA IN BORSA DEI DIRITTI DI OPZIONE NON ESERCITATI VENDUTI GIA’ IL PRIMO GIORNO TUTTI I DIRITTI DI OPZIONE NON ESERCITATI Verona, 1 dicembre 2014. Facendo seguito al comunicato del 27 novembre 2014 Cattolica Assicurazioni (“Cattolica” o la “Società”) comunica che già durante la prima seduta dell’offerta in borsa effettuata in conformità all’Articolo 2441, terzo comma, del codice civile (l’“Offerta in Borsa”), tenutasi in data odierna, sono stati venduti tutti i n. 268.580 diritti di opzione non esercitati nel corso del periodo di opzione (i “Diritti Inoptati”) che danno diritto alla sottoscrizione di n. 564.018 azioni ordinarie Cattolica di nuova emissione rivenienti dall'aumento di capitale (le “Nuove Azioni”), per un controvalore complessivo di Euro 2.397.076,50, corrispondenti allo 0,48% del totale delle massime n. 117.500.880 Nuove Azioni, per un controvalore complessivo di Euro 499.378.740. L’esercizio dei Diritti Inoptati acquistati nell’ambito dell’Offerta in Borsa e conseguentemente la sottoscrizione delle relative Nuove Azioni (al prezzo di Euro 4,25 per ogni Nuova Azione sulla base del rapporto di n. 21 Nuove Azioni ogni n. 10 Diritti Inoptati posseduti), dovrà essere effettuato, tramite gli intermediari autorizzati aderenti al sistema di gestione accentrata di Monte Titoli S.p.A., a pena di decadenza, entro e non oltre il terzo giorno di Borsa aperta successivo a quello della presente comunicazione della chiusura anticipata, e quindi entro e non oltre il 4 dicembre 2014, con pari valuta.
    [Show full text]
  • Press Release
    Società Cattolica di Assicurazione - Società Cooperativa Sede in Verona, Lungadige Cangrande n.16 C.F. 00320160237 – Iscritta al Registro delle Imprese di Verona al n. 00320160237 Società iscritta all'Albo delle Società Cooperative al n. A100378 PRESS RELEASE AUTHORISATION TO PUBLISH THE PROSPECTUS FOR THE OFFER OF CATTOLICA’S ORDINARY SHARES AND SIGNING OF THE UNDERWRITING AGREEMENT IVASS’ AUTHORISATION OF THE AMENDMENTS TO THE BYLAWS Verona, 7 November 2014. Consob has authorized today publication of the prospectus (the "Prospectus") for the offer and admission to listing on the MTA market, organised and managed by Borsa Italiana S.p.A. (“MTA”), of Cattolica Assicurazioni’s (the “Company” and the “Issuer”) ordinary shares to be issued in in connection with the share capital increase resolved by the Board of Directors of 18 September 2014, in furtherance of the mandate granted by the General Meeting of 30 April 2011 and the final conditions of which have been resolved upon by the Board of Directors held on 6 November 2014 (the ”Share Capital Increase”). Today the Issuer has also received IVASS’ approval in relation to the amendments to the Bylaws connected to the above mentioned resolutions of the Board of Directors of 6 November 2014, which have been therefore registered at Chamber of Commerce of Verona. The Share Capital Increase will take place through the issue of a maximum of nos. 117,500,880 new ordinary shares with a par value of € 3.00, regular entitlement and with the same characteristics of Cattolica’s outstanding ordinary shares at the shares’ issue date, to be offered to Cattolica’s Shareholders with an option ratio of 21 new shares for any 10 ordinary shares held, at an issue price of € 4.25 per share (out of which € 1.25 as share premium), for a total consideration of € 499,378,740.00.
    [Show full text]
  • Polizze Alla Sfida Dei Tassi Zero
    18 Giovedì 12 Maggio 2016 INSURANCE & PREVIDENZA AWARDS 2016 MARTEDÌ SERA ALLE OFFICINE DEL VOLO DI MILANO PREMIATE DA LE MIGLIORI COMPAGNIE Polizze alla sfida dei tassiMF zero Chiuso il cantiere di Solvency II, partito a gennaio, ora le assicurazioni devono trovare nuove strategie di rendimento. Ma il settore Vita sta continuando a crescere e per il Danni l’impegno è sul non-auto di Anna Messia e Francesco Colamartino a sfida dei bassi tassi d’interesse è entrata nel Lvivo con le compagnie di assicurazione che sem- brano pronte ad affrontarla. Le prime trimestrali pubbli- cate in questi giorni, dopo un ramo Danni non auto ma an- biennio di forte crescita per la che dal ramo Vita che potreb- raccolta Vita, mostrano ancora be beneficiare di un’ulteriore importanti segnali di sviluppo. espansione con la crescita dei La migrazione dei clienti dal- prodotti previdenziali», ha le polizze tradizionali (non più concluso. sostenibili con i tassi rasoterra) La sfida del settore sarà però a prodotti misti e unit linked anche quella di far capire a tut- è in piena attività, ma nono- ti gli interlocutori del sistema stante il cambio di strategia in quanto sia importante il settore corsa le compagnie in questi assicurativo in Italia», ha ag- mesi non sembrano rallentare. giunto Maria Bianca Farina, Perché nel mercato c’è ancora presidente Ania e ammini- tanta liquidità e anche perché stratore delegato di Poste Vi- le assicurazioni sembrano go- ta e Poste Assicura, premiata dere della fiducia dei clienti, come assicuratore dell’anno, probabilmente ancora di più per avere favorito il successo che in passato in conseguen- della quotazione di Poste Ita- za dei segnali di incertezza liane per i risultati raggiunti da arrivati dal settore bancario Poste Vita.
    [Show full text]
  • Enviva Chairman and CEO Joins More Than 150 Business Leaders and Investors to Urge EU Heads of State to Set Higher 2030 Emissions Reduction Targets
    September 15, 2020 Enviva Chairman and CEO Joins More Than 150 Business Leaders and Investors to Urge EU Heads of State to Set Higher 2030 Emissions Reduction Targets “The world’s leading environmental policymakers agree there is no way to achieve ‘Net Zero’ carbon reductions and effectively address climate change without a radical rethink on how we utilize and leverage bioenergy. Enviva fully supports efforts to increase 2030 emissions reduction targets and firmly believes that sustainably sourced wood biomass is a critical pathway to achieving this goal. Increasing 2030 emissions targets is an important component of the ambitious and aggressive actions we must take if we plan to succeed in eliminating additional carbon emissions from entering the environment by 2050.” John Keppler Enviva Chairman and CEO www.envivabiomass.com Dear Heads of State and Government, European Commissioners As business leaders and investors across Europe, we are determined to work with you to confront the health and economic impacts of the Covid-19 pandemic, while setting out the framework for a more climate resilient and regenerative recovery that can build back better. The agreement reached at the July European Council is a significant milestone. What we urgently need to see next is an ambitious implementation of the recovery package focused on achieving a green and digital transition, with the European Green Deal at its core and an elevated short-term emissions reduction target in its sights. This implies both a ‘green stimulus’ of public spending and investment, and market signals to incentivise private investment and steer it towards green outcomes. The right decisions now can help create and protect healthy, thriving and fair communities and secure a roadmap for a prosperous economy.
    [Show full text]
  • Investor Signatories to CDP's 2021 Request
    Investor Signatories to CDP’s 2021 Request Signatory Country Type 1919 Investment Counsel United States Asset Manager 3x5 Partners United States Asset Manager Aberdeen Standard Investments United Kingdom Asset Manager ABN Amro Holding Netherlands Asset Owner Achmea BV Netherlands Asset Manager ACTIAM Netherlands Asset Manager Addenda Capital Inc. Canada Asset Manager Adelphi Capital LLP United Kingdom Asset Manager Aegon Netherlands Asset Owner AFAP SURA S.A. Uruguay Asset Owner Afore Sura Mexico Asset Owner AFP Integra S.A. Peru Asset Manager AGF Investment Inc. Canada Asset Manager Aikya Investment Management United Kingdom Asset Manager AkademikerPension (MP Investment management) Denmark Asset Manager AKBANK T.A.Ş. Turkey Bank Aktia Bank Plc Finland Bank Alberta Investment Management Corporation (AIMCo) Canada Asset Manager Alberta Teachers Retirement Fund Canada Asset Owner Alecta Sweden Asset Owner Algebris (UK) Limited United Kingdom Asset Manager AllianceBernstein United States Asset Manager Allianz Global Investors Germany Asset Manager Allianz Group Germany Asset Owner Amalgamated Bank United States Bank American Century Investments United States Asset Manager American International Group, Inc. (AIG) United States Asset Owner AMF Sweden Asset Owner Amplegest France Asset Manager Amundi AM France Asset Manager Anchor Capital United States Asset Manager Angel Oak Capital Advisors, LLC United States Asset Manager Anima SGR Italy Asset Manager Antipodes Partners Limited Australia Asset Manager AP Pension Denmark Asset Owner APG
    [Show full text]
  • Società Cattolica Di Assicurazione – Società Cooperativa
    PROSPECTUS DATED 12 DECEMBER 2017 Società Cattolica di Assicurazione – Società Cooperativa €500,000,000 Fixed/Floating Rate Subordinated Notes due December 2047 callable December 2027 Issue Price: 100 per cent. The €500,000,000 Fixed/Floating Rate Subordinated Notes due December 2047 callable December 2027 (the Notes) of Società Cattolica di Assicurazione – Società Cooperativa (the Issuer) will be issued on 14 December 2017 (the Issue Date). The obligations of the Issuer under the Notes in respect of principal, interest and other amounts, constitute unconditional, unsecured and subordinated obligations and rank pari passu without any preference among themselves and at least equally with all other Parity Securities but junior to any unconditional, unsubordinated, unsecured obligations of the Issuer (and the policyholders of the Issuer) (and any other obligations which are less subordinated than the Notes) and senior to any Junior Securities, as set out and defined in the " Terms and Conditions of the Notes – Status of the Notes". Unless previously redeemed or repurchased and cancelled in accordance with the Conditions and subject as set out in Condition 4, the Notes will bear interest on their principal amount from (and including) the Issue Date to (but excluding) 14 December 2027 (the Interest Reset Date), at the rate of 4.25 per cent. per annum, payable, subject as provided in the Conditions, annually in arrear on each Initial Period Interest Payment Date commencing on 14 December 2018, provided that the interest payment on the Interest Payment Date falling on 14 December 2018 will be in respect of the period from (and including) the Issue Date to (but excluding) 14 December 2018.
    [Show full text]
  • Fintech Calls for Fuel to Exploit a Great, Maturing and Increasing Potential
    FinTech Calls for Fuel To exploit a great, maturing and increasing potential Italian FinTech Observatory 2020 www.pwc.com/it FinTech Calls for Fuel FinTech Calls for Fuel To exploit a great, maturing and increasing potential Italian FinTech Observatory 2020 www.pwc.com/it 2 In the meantime, Coronavirus has arrived: what could change? 4 1. Introduction and Methodological notes 6 2. The numbers of Italian FinTech in 2019 10 t tr ofir o or pot pro ro t tr r o pot tor tt firt p 3. Towards Open Banking and Finance 20 t t o t o tr r o t p r op to ot r to tor p ror r op p trto t ot 4. FinTech in depth analysis 42 r o t t oo t o t t t t tr ro Areas pt rt r r 5. TechFin 82 r rrt 3 FinTech Calls for Fuel In the meantime, Coronavirus has arrived: what could change? t rport t t oror It is quite natural to think that this situation will lead to r ro ot t rt too r to a inificant inca in t an aciation r prto ot t pt o o iita financia ic tor ot to t r o t tr mention the likely exponential growth in the demand troot t oo prot o for credit p r rot t o r t or o orto o po ro r r o or negative impacts to or that could primarily concern the investments of venture capital ot to tto o Nr t t t t otrto tt tto o t tr r t t less op r o rt attention paid to new start-ups (seeds).
    [Show full text]
  • Equity Calls from Italy
    Equity Daily Note 23 July 2020: 8:49 CET Calls from Italy Date and time of production Italy/Equity Market On Our Radar: Today’s Newsflow Stock Markets: Performance Positive Negative Chg (%) 1D 3M 6M 12M - FCA; CNH Industrial; ENAV FTSE All Share -0.5 21.8 -13.4 -5.3 FTSE MIB -0.6 22.9 -13.1 -5.2 FTSE IT Star 0.3 12.3 -9.3 5.0 New Research 2 Euro Stoxx 50 -1.2 8.9 -11.4 -4.1 Stoxx Small 200 -0.3 15.5 -11.3 -1.8 Pirelli (HOLD) Company Note: HOLD; New TP EUR 3.7/sh 2 NASDAQ 0.2 26.0 14.1 30.5 S&P 500 0.6 17.0 -1.4 9.7 Company News 3 Atlantia (HOLD) Update 3 FTSE MIB Best & Worst: 1D% chg Atlantia (HOLD) Traffic Update: Motorways Towards a 30% Drop 4 Buzzi Unicem 3.3 Pirelli -2.9 Cattolica Assicurazioni (HOLD) Press on Joint-Stock Company & Capital Increase 4 A2A 2.7 Moncler -2.6 De' Longhi (HOLD) Read-across from SEB 5 EXOR 1.7 Eni -2.5 Diasorin (Under Review) Further Investigation into San Matteo-Diasorin 5 ENAV (HOLD) Postponement of 1H20 Results’ Release 6 Euro Stoxx Best&Worst Sectors -1D % Eni (BUY) Renewables and Potential Disposals in E&P 6 Financials Serv 0.2 Oil & Gas -2.8 Real Estate 0.2 Media -1.8 FCA (BUY)/CNH Ind. (HOLD) Diesel Emissions Issue and EU Antitrust 7 Construction -0.2 Travel/Leisure -1.7 Unicredit (BUY)/Banca IFIS (BUY) UCG Disposed EUR 840M NPL, of which EUR 486M to IFIS 8 FTSE MIB-STAR Performance (-12M) Sector News 9 120 115 110 105 Asset Gatherers Sector Press on ECB Positioning on Dividends 9 100 95 90 85 80 75 70 65 J A S O N D J F M A M J J FTSE MIB INDEX FTSE ITALIA STAR Source: FactSet; Upcoming Intesa Sanpaolo
    [Show full text]