Generali Philippines (GP), the joint venture between global insurer Generali Group and
local bank leader BDO Unibank, Inc. (BDO), caps the first half of 2014 with a 41%
increase in individual premiums. New individual sales revenue grew by 30% while
individual renewal premium income rapidly rose by 49%. New group insurance sales
also improved by 34%.

“Our unrelenting focus on recurring-premium products enabled the Company to post
double-digit growth, at a time when the local industry’s sales performance was
significantly affected by the cyclical movements of the market. In so doing, we are
actively managing our portfolio mix to reflect the right balance between traditional and
unit-linked plans,” said Generali Philippines President and CEO Renato Vergel de Dios

Nevertheless during the first quarter, the Company introduced two additional variable
life variants, ValueMax Secure and WealthFlex Secure, to complement its suite of
recurring-premium variable unit-linked (VUL) life insurance solutions. VUL plans offer life
insurance protection while providing the policyholder with corresponding investment
options. The funds are expertly managed by BDO Trust and Investments Group.

To keep pace with BDO’s rapid branch expansion, GP on-boarded 185 new Financial
Advisors for the first half of the year. It continues to aggressively attract high-potential
individuals to widen its distribution reach.

Generali Philippines recently signed an agreement with BDO Private Bank as part of its
market segmentation strategy. GP will provide insurance-based tax funding solutions to
supplement the estate planning programs of the bank’s High Net Worth clients.

“Generali Philippines’ outstanding performance is anchored on the unwavering support
of our partner bank BDO, worldwide insurance leader Generali Group, and the
commitment and dedication of the sales force. As we aggressively grow our manpower
to 700 highly productive Financial Advisors, the Company will have a more robust growth
platform to solidify its market presence,” ended Vergel de Dios.

Generali Group financial update

On 31 July 2014, the Generali Group announced its first half results. In this period,
Generali has continued to implement its strategic actions aimed at strengthening the
Group’s capital position and improving the profitability of the business. The effective
execution of this strategy has enabled Generali to achieve an operating result in excess
of € 2.5 billion, growing by 9.5% from the same period last year.

Gross written premiums amounted to €35.4 billion, with a significant growth of 5.4% in
the life segment. Likewise, new life sales improved by 8.6% translating to over €2.5
billion. This was primarily driven by the introduction of new products, partnered with a
balanced business mix strategy.

Moreover, the Group’s capital strengthening program allowed it to surpass its 2015
target with a Solvency I ratio of 162% a year ahead of plan. Shareholder’s equity was at
€22.1 billion, growing by 11.9% while net income remained stable at over €1 Billion.

Marketing Department
6th Floor, Gercon Plaza Building
T +63.2.8854174
F +63.2.8935786
E-mail: ldtan@generali.com.ph
Generali Philippines
Gercon Plaza Building
7901 Makati Avenue
Makati City, Philippines
T+63.2.8854100
F+63.2.3250792
info@generali.com.ph
generali.com.ph

For Further Information:
Generali Philippines Marketing Department
Leonardo D. Tan, Jr. +632.8854170 ldtan@generali.com.ph
Maria Chelo M. Gothong +632.8854210 mcmgothong@generali.com.ph
Generali Philippines is a joint venture between two financial giants: the global insurer
Generali Group and Banco De Oro Unibank Inc. (BDO).

ABOUT THE GENERALI GROUP
The Generali Group is one of the largest global insurance providers with 2013 total
premium income of €66 billion. With 77,000 employees worldwide serving 65 million
clients in more than 60 countries, the Group occupies a leadership position on West
European markets and an increasingly important place on markets in Central Eastern
Europe and Asia.

ABOUT BANCO DE ORO UNIBANK, INC.
In the Philippines, our partner Banco De Oro Unibank Inc. (BDO) is the financial services
flagship of the SM Group of Companies, one of the country's largest and most
successful conglomerates with businesses spanning retail, mall operations, property,
banking, hotels, convention and leisure facilities. Today, BDO is the country’s largest
bank in terms of assets with over 720 branches nationwide. BDO is multi-awarded by
various leading international institutions, which include Finance Asia, Apha Southeast
Asia, The Banker, The Asset, Asiamoney and the Asia CEO Awards.