RIQ, an AI-native reinsurance platform and subsidiary of International Holding Company (IHC), has signed a strategic collaboration agreement with ADNOC to develop a preferred reinsurance partnership.
The agreement targets an allocation of more than US$500 million in risk coverage over the next decade.
Launched earlier this year by IHC in partnership with BlackRock and Lunate, RIQ will be based in Abu Dhabi Global Market (ADGM) and will provide a comprehensive suite of reinsurance solutions.
Under the new agreement, RIQ will work with ADNOC to structure capital-efficient coverage for complex operational, climate-related, and specialty risk classes. The platform plans to use advanced data modeling, AI-augmented underwriting, and analytics to address the demands of a sophisticated risk environment.
RIQ’s infrastructure incorporates BlackRock’s Aladdin platform for asset management and risk modeling, supporting its goal to write up to US$10 billion in reinsurance premiums annually.
RIQ is currently in the final stages of obtaining formal authorization from the Financial Services Regulatory Authority (FSRA) of ADGM. The company is preparing to launch full operations and expand its offerings as regulatory approvals are finalized.
The company will offer solutions across property and casualty (P&C), life, and specialized insurance segments, with an initial focus on high-growth markets. The collaboration with ADNOC, combined with RIQ’s recent alliance with IHC, brings the total reinsurance premiums committed through RIQ’s platform to over US$1 billion for the coming decade.
“This partnership will enhance ADNOC’s operational resilience by tailoring reinsurance solutions to evolving industrial and climate risks," said Ahmad Khalfan Al Mansoori, chairman of ADNOC Re. "Leveraging RIQ’s AI-powered platform will strengthen our risk management capabilities and ensure continuity in a complex energy landscape.”
Mark Wilson (pictured above), CEO of RIQ, also said that the alliance with IHC brings together technology, capital, and expertise to “redefine global reinsurance from Abu Dhabi outward.” Wilson said these relationships represent a significant step in building the reinsurance platform of the future.
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