Development of Zurich’s new Australian headquarters – a 25-storey tower at 118 Mount Street in North Sydney – has started.

The project will be delivered by construction firm Roberts Pizzarotti and has been developed in conjunction with real estate companies White & Partners and Generate Property Group.

A six-storey complex is being demolished to make way for the new building, and staff will move in by late 2020.

Zurich Life and Investments Australia CEO Tim Bailey says it is a “once-in-a-generation opportunity to develop a workplace tailored to the needs of our people and our customers”.