Latest news with #Generali
Times
2 days ago
- Business
- Times
Giant sign at top of Milan skyscraper collapses
Workers and commuters in Milan had an unexpected alarm call on Monday when a 170-tonne sign on top of one of the city's skyscrapers partially collapsed. Witnesses reported hearing a loud bang before noticing that one of two L-shaped red signs that sits on top of the 192m Generali Tower, designed by Dame Zaha Hadid, the British-Iraqi architect, had come unstuck and was resting on top of the tower. The steel sign on the insurance company's headquarters is leaning at a precarious 45-degree angle and the 44-storey building, in which 2,000 people work, has been evacuated. The surrounding area has been cordoned off. An initial hypothesis is that the steel rods holding the sign have broken, according to La Repubblica, but the causes are being investigated. Firefighters and maintenance workers are reported to be inspecting the damage. There were no reported injuries. The immediate area has been cordoned off while the incident is investigated EMANUELE CREMASCHI/GETTY IMAGES Generali said the site had been 'immediately secured' and that staff were working remotely. A nearby metro station was closed and the piazza below the tower, the site of the CityLife shopping district, was cordoned off. When the tower was opened in 2017, it quickly became a symbol of elegance, modernity and economic power in the Italian financial capital. In keeping with Hadid's trademark shapely architectural style, it is famed for its twisted, torso-like design. The architect, who was born in Baghdad, did not live to see its completion. She died at the age of 65 in 2016. • Wildfires rage across Turkey as Europe swelters in heatwave It took 15 helicopter flights to position the two Generali signs on top of the building, according to Fanpage, an online newspaper. The tower forms part of a cluster of three serving as the headquarters of Generali, Allianz and PwC in the CityLife district, where celebrities including Chiara Ferragni, the influencer, and her former partner, Federico Lucia, better known as Fedez, the rapper, have owned homes.
Yahoo
2 days ago
- Business
- Yahoo
'Generali' sign atop insurer's skyscraper offices collapses in Milan
By Sara Rossi and Elvira Pollina MILAN (Reuters) -One of the giant Generali signs that crown the Italian insurer's head offices in Milan collapsed on Monday, remaining atop the 170 metre-high (558 ft) skyscraper but at risk of crashing to the ground, firefighters said on Monday. Generali, which is Italy's biggest insurer, said there were no injuries, adding that staff had been instructed to remain at home and work remotely. "The situation has been promptly managed with the collapsed sign immediately secured without any damage to people or the surrounding structures," it said in a note. "The possible causes of the accident are being assessed. Generali will continue to promptly provide all relevant updates," it added. Firefighters said they were working with Generali personnel to prevent the sign from dislodging from the top of the building and plunging to the ground. The area has been cordoned off and the nearby metro station shut. The Generali building, known as the Hadid Tower, is part of Milan's CityLife redevelopment project, which saw the construction of three iconic skyscrapers dubbed Le Tre Torri - "three towers" in Italian - on the grounds of the former trade fair. Built between 2014 and 2017 and spanning 44 storeys, the Generali tower was designed by the late Iraqi-born British architect Zaha Hadid. The other two towers, which house the Milan offices of German insurer Allianz and consultancy firm PwC respectively, were designed by architects Arata Isozaki and Daniel Libeskind. The CityLife project also includes high-end apartment buildings surrounding the park where the three towers are located as well as a shopping centre. Dozens of employees of the shopping centre queued outside the cordoned-off area waiting to see if they would be allowed in, according to a Reuters eyewitness. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Straits Times
2 days ago
- Business
- Straits Times
'Generali' sign atop insurer's skyscraper offices collapses in Milan
A partially collapsed sign of the Generali insurance headquarters is seen at the top of the Hadid tower in Milan, Italy, June 30, 2025. REUTERS/Daniele Mascolo A partially collapsed sign of the Generali insurance headquarters is seen at the top of the Hadid tower in Milan, Italy, June 30, 2025. REUTERS/Daniele Mascolo MILAN - One of the giant Generali signs that crown the Italian insurer's head offices in Milan collapsed on Monday, remaining atop the 170 metre-high (558 ft) skyscraper but at risk of crashing to the ground, firefighters said on Monday. Generali, which is Italy's biggest insurer, said there were no injuries, adding that staff had been instructed to remain at home and work remotely. "The situation has been promptly managed with the collapsed sign immediately secured without any damage to people or the surrounding structures," it said in a note. "The possible causes of the accident are being assessed. Generali will continue to promptly provide all relevant updates," it added. Firefighters said they were working with Generali personnel to prevent the sign from dislodging from the top of the building and plunging to the ground. The area has been cordoned off and the nearby metro station shut. The Generali building, known as the Hadid Tower, is part of Milan's CityLife redevelopment project, which saw the construction of three iconic skyscrapers dubbed Le Tre Torri - "three towers" in Italian - on the grounds of the former trade fair. Built between 2014 and 2017 and spanning 44 storeys, the Generali tower was designed by the late Iraqi-born British architect Zaha Hadid. The other two towers, which house the Milan offices of German insurer Allianz and consultancy firm PwC respectively, were designed by architects Arata Isozaki and Daniel Libeskind. The CityLife project also includes high-end apartment buildings surrounding the park where the three towers are located as well as a shopping centre. Dozens of employees of the shopping centre queued outside the cordoned-off area waiting to see if they would be allowed in, according to a Reuters eyewitness. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
2 days ago
- Business
- The Star
'Generali' sign atop insurer's skyscraper offices collapses in Milan
A partially collapsed sign of the Generali insurance headquarters is seen at the top of the Hadid tower in Milan, Italy, June 30, 2025. REUTERS/Daniele Mascolo MILAN (Reuters) -One of the giant Generali signs that crown the Italian insurer's head offices in Milan collapsed on Monday, remaining atop the 170 metre-high (558 ft) skyscraper but at risk of crashing to the ground, firefighters said on Monday. Generali, which is Italy's biggest insurer, said there were no injuries, adding that staff had been instructed to remain at home and work remotely. "The situation has been promptly managed with the collapsed sign immediately secured without any damage to people or the surrounding structures," it said in a note. "The possible causes of the accident are being assessed. Generali will continue to promptly provide all relevant updates," it added. Firefighters said they were working with Generali personnel to prevent the sign from dislodging from the top of the building and plunging to the ground. The area has been cordoned off and the nearby metro station shut. The Generali building, known as the Hadid Tower, is part of Milan's CityLife redevelopment project, which saw the construction of three iconic skyscrapers dubbed Le Tre Torri - "three towers" in Italian - on the grounds of the former trade fair. Built between 2014 and 2017 and spanning 44 storeys, the Generali tower was designed by the late Iraqi-born British architect Zaha Hadid. The other two towers, which house the Milan offices of German insurer Allianz and consultancy firm PwC respectively, were designed by architects Arata Isozaki and Daniel Libeskind. The CityLife project also includes high-end apartment buildings surrounding the park where the three towers are located as well as a shopping centre. Dozens of employees of the shopping centre queued outside the cordoned-off area waiting to see if they would be allowed in, according to a Reuters eyewitness. (Reporting by Sara Rossi, Elvira Pollina, Andrea Mandala and Gianluca Semeraro; Writing by Valentina Za; Editing by Gavin Jones, Alvise Armellini and Joe Bavier)
Yahoo
2 days ago
- Business
- Yahoo
Central Bank of India forms joint venture tie-up with Generali
Central Bank of India (CBI), a public sector bank, has announced a joint venture partnership with Italian insurer Generali. Earlier in June 2025 the state-owned bank acquired a 25.18% equity stake in Future Generali India Life Insurance Company Limited (FGILICL) and a 24.91% stake in Future Generali India Insurance Company Limited (FGIICL). The collaboration aims to strengthen Generali's brand positioning and distribution capabilities in both life and property and casualty (P&C) insurance segments in India. Under the shareholders agreement, both parties have rights to nominate directors, a first right to share subscription in case of new share issuances, and influence over changes in capital structure and certain day-to-day operations of FGILICL. Central Bank of India has also granted Generali a non-exclusive, revocable, non-transferable, and non-assignable licence to use its trademarks under a trademark licence agreement for ten years. A distribution agreement (DA) appoints Central Bank of India as a corporate agent for FGILICL to solicit and procure insurance business. The agreement spans six years, with renewal provisions every three years thereafter. Generali Group Asia regional officer Rob Leonardi said: 'This partnership is a strong vote of confidence in our business in India. Working with Central Bank of India is an opportunity to go from strength to strength in an important growth market for Generali and comes at a good time on the back of the launch of our new strategic plan. 'Our combined strengths have the potential to carry our Lifetime Partner proposition to new heights – from better brand recognition to enhanced distribution capabilities, all supported by our strong strategy.' Set up in 1911, Central Bank of India is a public sector bank with more than 4,500 branches serving more than 80 million customers. "Central Bank of India forms joint venture tie-up with Generali " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
