Sustainability Report 2012 - Generali Versicherung AG

Dividend policy2009 2010 2011 2012701545311 3110.35 0.450.20 0.20Shareholders by type45403530252029.043.038.828.0 29.7 40.230.131.729.527.540.931.6Dividends(in million Euros)Dividend per share(Euro)1510SIZE AND CHARACTERISTICS OF THESHAREHOLDERSAs at 31 December 2012, the share capital of AssicurazioniGenerali S.p.A., amounted to 1,556,873,283 euros, dividedinto the same number of ordinary shares with a nominalvalue of 1 euro each, of which 15,996,870 held by the ParentCompany and the other Group companies.Shareholders of the Parent Company amount toapproximately 280,000, of which 73.4% are Italian. Groupemployees hold a total stake of 0.35% (5,474,936 shares);Italian employees hold the majority stake, equal to 0.29%.Only six shareholders have a direct and/or indirect (heldthrough a third party, trustees or subsidiaries) stake equalto or more than 2%. Known as the major shareholders, theyhold a combined 27.53% interest in the share capital.Major Shareholders as at 29.03.201372.47■ Other2.15■ Effetti S.p.A.(33,489,587 share)2.23■ GruppoCaltagirone(34,750,000 share)%13.24■ Mediobanca(206,095,114 share)4.48■ CDP*(69,777,535 share)3.0■ LeonardoDel Vecchio(46,653,584 share)2.43■ B&DHolding Group(37,890,000 share)502009 2010 2011 2012■ Main shareholders■ Other institutionalinvestors■ PrivateshareholdersThe decrease in the share held by major shareholders in 2012can be attributed to the changes in the composition of theseshareholders.The shareholders of the Company also includeinvestors who adopt ethical criteria for investment.The main one is the Norwegian GovernmentPension Fund - Global, which alone holds 1.79%of the share capital of Assicurazioni Generaliwith 27,414,308 shares, followed by StichtingPensioenfonds ABP, the Dutch pension fundfor employees in the government, public andeducation sectors, which holds 1,570,363 shares(approximately 0.10% of shares issued). There arealso other institutional investors (pension funds andmutual funds) oriented toward a socially responsibleinvestment policy, which invest in the Generali sharetotalling about 1.20% of the share capital (updatedas of October 2012).The geographical breakdown of “ethical” investors inGenerali is as follows: Norway 58%, the Netherlands16%, USA 12%, France 5%, Sweden 4%, the restof Europe 2%, the rest of the world 3%.* Cassa Depositi e Prestiti (through Fondo strategico Italiano).The breakdown of major shareholders has changed comparedto 2011: these no longer include the Blackrock Group, whileBank of Italy’s stake was sold to Fondo Strategico Italiano, asubsidiary of Cassa Depositi e Prestiti. This latter transaction wasconducted in order to prevent any potential conflict of interestswhich could derive from the governance of the new supervisorybody for insurance (IVASS), in which the Top Management of theBank of Italy participates.78 | Assicurazioni Generali - Sustainability Report 2012