4 days ago
Abu Dhabi's IHC to invest $500mn in reinsurance premiums with RIQ
RIQ, the AI-native reinsurance platform launched earlier this year by IHC, in partnership with BlackRock and Lunate, has entered into a preferred reinsurance partnership with IHC, anchored by a targeted allocation of over US$500 million in risk coverage within the coming decade.
The 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.
'A strategic investment'
Syed Basar Shueb, CEO of IHC, called it 'a strategic investment in the future of resilient infrastructure and industrial agility'.
'This partnership reflects IHC's conviction in the transformative power of intelligent capital and data-driven risk transfer. By aligning with RIQ, we are catalysing 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,' Shueb said.
Headquartered in Abu Dhabi Global Market (ADGM), 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.
Seeking regulatory approvals
The company is currently in the process of getting regulatory approvals with the Financial Services Regulatory Authority (FSRA) of ADGM, as it moves toward formal authorisation as a reinsurer. Final preparations are also 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.
Mark Wilson, CEO of RIQ, added: '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.'
RIQ has promised more updates in the coming months, as it executes on its global buy-and-build strategy. With over US$1 billion in equity commitments from IHC and strategic partners BlackRock and Lunate, RIQ aims to ultimately write US$10 billion per year.
