UIB places the reinsurance of the world’s highest skyscraper

The highest skyscraper in the world will be built in Jeddah, Saudi Arabia. The height expected by its designers Adrian Smith and Gordon Gill is 1000 meters. The construction period is estimated at six years. The insurer United Cooperative Assurance has underwritten an engineering insurance policy worth 1.5 billion USD. The facultative reinsurance placement is done by broker UIB, the main intermediary on this deal. Allianz is the leading reinsurer.