Company's references

European Market Infrastructure Regulation

Information on the exemption of intra-group transactions from the margining obligation pursuant to the Regulation (UE) n. 648/2012, European Market Infrastructure Regulation (EMIR)

Publication according to Art. 11 para.11 EMIR and Art. 20 Delegated Regulation (EU) 149/2013

1. Background

Pursuant to Regulation (EU) No 648/2012 (“EMIR”), counterparties are generally obliged to provide collateral for non-cleared OTC-derivatives. Assicurazioni Generali S.p.A. and its subsidiaries referred to paragraph 5 have been granted exemptions from this obligation in accordance with Art. 11 para. 3 EMIR with respect to intra-group transactions. According to Art. 11 para. 11 EMIR, Art. 20 Delegated Regulation (EU) 149/2013, the following details on the exemptions obtained have to be published.

2. Affected counterparties

This publication relates to intra-group transactions between:

Assicurazioni Generali S.p.A.

a joint-stock company incorporated under the laws of Italy, fully paid in share capital € 1.565.165.364,00 with its registered seat in Trieste, Italy; its office at Piazza Duca degli Abruzzi n. 2, Trieste, Italy, and registered at Business Register at the Italian Chamber of Commerce and Industry under identification number 00079760328, registered in the Register of Italian Insurance and Reinsurance Companies under no. 100003, Parent Company of Generali Group, registered in the Register of Insurance Groups (Albo dei gruppi assicurativi) under no. 26, (LEI Code: 549300X5UKJVE386ZB61), on one hand,

and the subsidiaries listed below in paragraph 5 (each a “counterparty” and together, the “counterparties") on the other hand.

3. Group structure

The counterparties are consolidated subsidiaries of Assicurazioni Generali S.p.A. and are therefore part of the Generali Group. Further details on the group structure and the relationships between the counterparties and Assicurazioni Generali S.p.A. are disclosed in its Annual Report.

4. Type of exemption and Transaction volumes

The exemption of intra-group transactions from the margining requirements pursuant to Art.11 (3) EMIR covers the following kind of derivative transactions:

1. the asset class of OTC derivative contracts:
   Foreign Exchange Rate (FX)
    
2. the type of OTC derivative contracts:
   SWAP and Forward Foreign Exchange Rate
    
3. the type of underlying:
   Foreign Exchange Rate Euro against Czech Crown
    
4. the notional and settlement currencies:
   Notional EUR, Czech Crown; settlement currencies EUR, Czech Crown
    
5. the range of contract tenors:
   up to 24 months
    
6. the settlement type:
   Physical settlement and/or cash settlement
    
7. planned volumes of the transactions:
    

Please note that this is the authorized maximum amount of the derivatives notional. The exemption to such intra-group transactions from the margining obligation has been granted for the full amount of the notional.

5. List of Subsidiaries