Latest news with #GeneraliGroup
Reuters
12 hours ago
- Business
- Reuters
'Generali' sign atop insurer's skyscraper offices collapses in Milan
MILAN, June 30 (Reuters) - One of the giant Generali signs that crown the Milanese head offices of the Italian insurer collapsed on Monday, remaining atop the 170 metre-high skyscraper but at risk of crashing to the ground, firefighters said on Monday. A spokesperson for Generali ( opens new tab said there had been no injuries, adding that staff had been instructed to remain at home and work remotely. 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 the Milan's CityLife redevelopment project which saw the construction of three iconic skyscrapers dubbed the 'Le Tre Torri' (three towers) 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.
Economic Times
08-05-2025
- Business
- Economic Times
Generali readies capital infusion plans for India JV
Generali Group plans to inject capital into its Indian venture to expand operations, anticipating the increase in foreign direct investment in the insurance sector to 100%. While the specifics of the infusion are pending shareholder agreement finalization, Generali intends to maintain a 74% equity stake and collaborate with Central Bank, its new partner after the Future Group's insolvency proceedings. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Banking/Finance 1. Generali readies capital infusion plans for India JV Milan: Italy's Generali Group has drawn up plans for capital infusion in its Indian venture to scale up its business in the country. India is set to raise foreign direct investment in the insurance sector to 100% from 74%, which would allow this capital infusion."We do expect that there will likely be a need for capital injection but we will have a better idea on that once the shareholder agreements are concluded, which are still in process," Rob Leonardi, Regional Officer, Generali Asia, told ET on the sidelines of the 58th annual meeting of the Asian Development Bank declined to give details about the quantum or time frame of the capital infusionGenerali forayed into India's insurance sector in 2007 with a tie-up with the Future Group. Central Bank has acquired shares from the Future Group as part of the insolvency process including 24.91% shareholding in Future Generali India Insurance and 25.18% shareholding in Future Generali India Life said the group will continue with 74% equity even as the option to raise it 100 % is expected (with the increase in FDI cap). "We are very much looking forward to developing our partnership with Central Bank and working with them," he Indian government is expected to introduce the Insurance amendment bill to raise the foreign investment limit to 100% in the upcoming monsoon is the second largest market for the group in Asia, he noted.(The reporter is in Milan at the invitation of ADB)
