Authorities in Milan cleared the area surrounding the Hadid Tower on June 30 following the partial collapse of a large banner installed atop the headquarters of Assicurazioni Generali SpA.
The insurer confirmed in a statement that no injuries were reported and no damage to nearby structures has been identified.
The company also said that investigations are under way to determine the cause of the incident. As a precaution, employees were directed to work from home.
The banner, located at the summit of the 170-metre (558-foot) skyscraper, was visibly distorted and appeared to be leaning against the upper levels of the building. Emergency crews cordoned off the vicinity to restrict public access.
The incident occurred during a period of high temperatures in Milan, where the heat rose to 36°C (96.8°F). Italian media outlets have suggested a possible connection between the structural failure and the current heatwave. That said, fire services have not issued any formal statements regarding the collapse.
The Hadid Tower is part of the larger CityLife redevelopment project, a multi-year urban regeneration initiative that has transformed the site of Milan’s former trade fair grounds. CityLife combines commercial and residential developments with green space, and the Hadid Tower is one of three skyscrapers anchoring the business district within the project.
The building accommodates approximately 3,900 employees and functions as Generali’s Milan headquarters. The tower's interior has been designed for flexible office use, incorporating open-plan workspaces, conference rooms and support areas to serve the insurer’s operations.
Construction of the Hadid Tower began in 2014 and reached completion in 2017, with its official opening following in 2018.
Elsewhere, Generali has reported an 8.9% increase in its operating result for the first quarter of 2025, reaching €2.07 billion. The growth was supported by contributions from all business segments, with notable improvements in property and casualty (P&C) operations.
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