Inaugurated in 1911, it was designed by Jules and Raymond Février for the insurance company La Unión y el Fénix.

After La Unión y el Fénix acquired the ground in 1905, they launched an international competition for the opportunity to design their building.

In 1972 Metrópolis Seguros acquired the building, and the previous owner decided to take the original statue away with them, by then very familiar in Madrid's skyline, to their new headquarters.

[2] End of 1996 the most important work was carried out, which restored the entire facade, with focus on the sculptures which were heavily damaged by environmental pollution and pigeons.

The columns support 4 statues representing Mining, Agriculture, Industry and Commerce, made by Saint Marceaux and L. Lambert.