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Zawya
an hour ago
- Zawya
IHC and RIQ snnounce strategic 10-year alliance anchored by over $500mln in reinsurance premiums
RIQ to deliver AI-native risk transfer solutions tailored to IHC and its group companies. Partnership accelerates Abu Dhabi's rise as a global hub for reinsurance and intelligent risk management. Abu Dhabi, UAE – RIQ, the AI-native reinsurance platform purpose-built for the future of global risk transfer, has entered into a preferred reinsurance partnership with IHC, anchored by a targeted allocation of over USD 500 million in risk coverage within the coming decade. Based in ADGM and launched earlier this year by IHC in partnership with BlackRock and Lunate, RIQ will offer a full suite of reinsurance solutions, working closely with IHC and its portfolio companies to structure capital-efficient coverage across complex Specialty and Property and Casualty (P&C) risk classes. Leveraging advanced data modelling and AI-augmented underwriting, the platform is purpose-built to meet the demands of a rapidly evolving risk environment. This partnership represents IHC's commitment to pioneering intelligent capital deployment and transformative risk transfer solutions. By leveraging RIQ's AI-powered infrastructure, IHC aims to enhance the resilience and operational agility of its group companies. The collaboration also aligns with Abu Dhabi's ambition to lead globally in structured reinsurance and financial innovation. RIQ is currently advancing through its regulatory journey with the Financial Services Regulatory Authority (FSRA) of ADGM, as it moves toward formal authorization as a reinsurer. In parallel, final preparations are underway for the execution of the reinsurance transaction between IHC and RIQ, which remains subject to regulatory clearance. This transaction will mark a foundational step in RIQ's operational rollout. Syed Basar Shueb, CEO of IHC, said: 'This partnership reflects IHC's conviction in the transformative power of intelligent capital and data-driven risk transfer. By aligning with RIQ, we are catalyzing the next chapter of Abu Dhabi's evolution as a global center for reinsurance innovation. This is not just a financial commitment, it is a strategic investment in the future of resilient infrastructure and industrial agility.' Mark Wilson, CEO of RIQ, noted: 'We are proud to collaborate with IHC in this milestone partnership. RIQ's platform is engineered to deliver intelligent risk solutions at pace, fusing advanced analytics, underwriting discipline, and strategic capital. This announcement marks a defining step in our mission to reshape global reinsurance from Abu Dhabi outward.'' Additional strategic updates are expected in the coming months, as RIQ executes on its global buy-and-build strategy. With over USD 1 billion in equity commitments from IHC and strategic partners BlackRock and Lunate, and anchored in AI-native infrastructure, RIQ aims to ultimately write USD 10 billion per year, redefining the future of reinsurance through intelligence, scale, and strategic discipline. About IHC Established in 1999, IHC has become the most valuable holding company in the Middle East and one of the world's largest investment firms, with a market capitalization of AED 879.6 billion (USD 239.3 billion). Since then, it has transformed to represent a new generation of investors. IHC's commitment to sustainability, innovation, and economic diversification spans over 1,300 subsidiaries, driving growth across industries like Asset Management, Healthcare, Real Estate, Financial Services, IT, and more. IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts. At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment. About RIQ Established in 2025, RIQ is a next-generation, AI-native reinsurance platform launched by IHC, in partnership with BlackRock and Lunate. Headquartered in Abu Dhabi Global Market (ADGM), RIQ is designed to serve global markets with an initial focus on high-growth regions across the Middle East, Asia, and select international jurisdictions. With deep capital backing, advanced analytics capabilities, and a long-term commitment to innovation, RIQ will provide reinsurance solutions across Property & Casualty, Life, and specialized segments. By integrating intelligent risk assessment with global capital, RIQ aims to help shape a more resilient and responsive future for reinsurance worldwide. Media Contacts Simon Hailes Managing Director, Head of Edelman Smithfield Middle East IHC@
Zawya
an hour ago
- Zawya
UBA Chairman Tony O. Elumelu calls for African governments to prioritize infrastructure & private sector investment
DUBAI, UAE – Tony O. Elumelu, Group Chair of United Bank for Africa (UBA), Heirs Holdings, and Founder of the Tony Elumelu Foundation has challenged African leaders to take decisive action in building a resilient continent while highlighting significant investment opportunities for Global partners including the Gulf in Africa's transformation journey. Delivering the keynote address on "Resilient Infrastructure, Human Capital, and Green Assets" at the 2025 World Bank and IMF African Caucus Meeting of 54 African member countries in Bangui, Central African Republic, Elumelu tasked African leaders with strengthening their continent's foundations while creating pathways for meaningful international partnership. Building Resilient Foundations "Africa's development is our responsibility. No one else will do it for us. Africa's future is in our hands," Elumelu declared, challenging African leaders to strengthen fiscal capacity, drive efficiency, and create enabling environments for international partnerships. The UBA Chairman emphasized that reliable electricity is crucial for Africa's industrial revolution, noting that "no industrial revolution or meaningful progress can occur on the continent without reliable electricity." Youthful Demographics Create Market Potential Elumelu highlighted Africa's demographic advantage as a key opportunity for global investors, noting that over 60% of the continent's population is under 35 years old. "Africa is the youngest continent on earth. Our young people are the answer to the world's demographic crisis, our minerals power the extraordinary technological changes we are experiencing, and our fields can feed the world," he explained. This demographic profile creates substantial market opportunities for global partners in sectors including telecommunications, education technology, financial services, and consumer goods, particularly as the continent builds resilient economic foundations. Framework for Stronger Partnerships Elumelu emphasized that successful partnerships must be built on "genuine partnerships of equality and mutual respect," ensuring African development occurs "on African terms" that benefits African people and catalyzes true value creation across the continent. His message comes as Dubai's trade with Africa is forecast to grow 10% annually over the next five years. This trajectory, combined with his call for resilient infrastructure development, creates compelling opportunities for global partners. UBA's DIFC branch strengthens UAE-Africa financial flows, facilitating trade and investment between the regions. With Africa's GDP expected to reach $2.6 trillion by 2030, strategic infrastructure investments from international partners could unlock significant economic value while supporting sustainable development across the continent. About UBA Group United Bank for Africa Plc (UBA) is a leading pan-African financial institution with operations in 20 African countries and international presence in the USA, UK, France, and UAE. As Africa's Global Bank, UBA connects businesses and investors worldwide to opportunities across the continent. Visit for more information.
The National
2 hours ago
- The National
UAE and US collaboration 'ripe for expansion', envoy says
America and the UAE are aligned on the "pathway forward" in the region, the US Ambassador to the country has said, as she hailed the strong partnership and opportunities for further co-operation in advanced technology and defence. "As two countries, two longstanding partners and strategic allies, we're facing a moment of opportunity to strengthen our partnership but also to reach new frontiers and really push the horizons," Martina Strong told The National. Ms Strong's interview took place as her term as US envoy to the UAE comes to an end. She assumed the position in 2023 at a time of American disengagement from the Middle East, when the post had been vacant for about two years. "Whenever I think of our relationship, I like to think back to the very beginnings," she said, recounting the story of American doctors Pat and Marian Kennedy, who founded the emirate's Oasis Hospital in 1960. That clinic went on to deliver thousands of Emirati babies at a nascent time in the country's rapid modern development. Ms Strong described co-operation on health – which began early on – advanced technology, artificial intelligence and space exploration as the key focus areas during her time in the UAE. She said she was "struck by how forward-looking the UAE has been" on artificial intelligence, having had an AI minister since 2017 – the first such ministerial appointment in the world. "It's just remarkable that this country has managed to identify early on that this will be a priority." Ms Strong added that artificial intelligence was also one of the "key centrepieces" of US President Donald Trump's visit in May. President Trump's visit Mr Trump visited Saudi Arabia, Qatar and the UAE on the first official overseas trip of his second term. The Gulf tour resulted in bilateral deals worth billions of dollars and highlighted the US's growing pivot towards the region. "It's no accident that the President came here to the Gulf [first] and it's no accident that he visited these three countries," Ms Strong said. Mr Trump was welcomed to the UAE by President Sheikh Mohamed, who bestowed him with the country's highest civilian honour, the Order Of Zayed, a reflection of the importance of the relationship between both countries. "I've never seen a presidential visit like this," Ms Strong said. "It was so incredibly positive, you could feel it in the atmosphere. The friendship, the partnership. In some moments, I will tell you it was electrifying," she added. "It was clear that the President was having a great time. He really enjoyed every stop," she said of the visit, adding that it was one of the most memorable events in her diplomatic career. During the visit, in addition to many deals announced, plans for a UAE-US AI Campus in Abu Dhabi were unveiled. The Commerce Department described it as one of the largest outside the US. The campus is part of an AI Acceleration Partnership between the two countries. "The area of collaboration is ripe for expansion," Ms Strong said, indicating opportunities beyond AI. During Mr Trump's visit, a Major Defence Partnership and a partnership programme between the Texas National Guard were announced, increasing defence collaboration. "It's an area of opportunity where we can do much more together," the ambassador said. "But what I have found striking is that the best work that we're doing here is when we're working together with our Emirati partners." Ms Strong reflected on her first interview with The National after she arrived in the UAE, when she described the country as an "an anchor" in the region. "I believe that more than ever." "The President welcomed and really appreciated Sheikh Mohamed's thoughts on where the region is headed," she said. Mr Trump's visit came during heightened turbulence and conflict in the region – from the Gaza Strip to the Red Sea. He discussed Israel's war on Gaza and growing tension with Iran – at that time still engaged in nuclear negotiations – with leaders of the Gulf states he visited. "They talked about the region, they talked about regional security but they also talked about the pathway forward," Ms Strong said. She emphasised that Washington was on the same path as the UAE – one focused on "prosperity, peace, coexistence, tolerance".
