Abu Dhabi is emerging as a key player in the global reinsurance market, and RIQ’s partnership with ADNOC highlights this. IHC, in collaboration with BlackRock and Lunate, launched RIQ, an AI-powered reinsurance platform. It has teamed up with ADNOC to deliver a $500 million reinsurance partnership, setting a strong foundation for success. This deal underscores how technology is transforming reinsurance and highlights Abu Dhabi’s growing role in the sector.
A Strong Partnership for the Future
This partnership is more than just a financial agreement—it’s about enhancing ADNOC’s operational resilience through smart, tailored reinsurance solutions. RIQ will help ADNOC tackle complex risks, including climate-related challenges, by offering capital-efficient coverage built on AI-powered technology. By combining data modeling and AI-augmented underwriting, RIQ will create solutions that fit ADNOC’s evolving needs in a rapidly changing global risk environment.
With this partnership and a previous alliance with IHC, RIQ is positioning itself for $1 billion in reinsurance premiums. This bold move shows RIQ’s intent to lead reinsurance by leveraging technology for smarter, more efficient solutions.
How RIQ is Revolutionizing Reinsurance
RIQ is based in Abu Dhabi Global Market (ADGM) and offers a comprehensive range of reinsurance solutions.RIQ reshapes the reinsurance process by using AI and advanced data analytics, which sets it apart from others. By leveraging cutting-edge technology, RIQ makes it possible to create capital-efficient solutions that are better suited for industries dealing with complex and evolving risks, like energy, construction, hospitality, and tourism.
This combination of AI-driven insights and real-time data is a game-changer, allowing RIQ to offer better underwriting. More efficient risk management, and a tailored approach that’s not only smarter but more cost-effective.
RIQ’s Ambitious Plans for the Future
With over $1 billion in equity commitments, RIQ isn’t slowing down. RIQ plans to write over $10 billion in annual reinsurance premiums and significantly impact the global market. RIQ is navigating the regulatory process to become a fully authorized reinsurer, positioning itself for long-term success.
Mark Wilson, CEO of RIQ, couldn’t be more excited about the partnership: “We are honored to collaborate with ADNOC, an organization renowned for its ambition and long-term vision. Together, we’re combining cutting-edge technology, strategic capital, and expertise to redefine reinsurance from Abu Dhabi, outward.”
Abu Dhabi: The New Global Reinsurance Hub
This partnership is not just about RIQ and ADNOC—it’s also a testament to Abu Dhabi’s emerging position as a global reinsurance hub. The city is quickly becoming a center for intelligent capital, innovative technology, and structured risk solutions. RIQ continues to grow and expand, leading the way in transforming the reinsurance industry and making it more efficient and forward-thinking.
Looking Ahead
RIQ is not done yet. With further strategic updates and a global buy-and-build strategy, the platform is poised to make an even bigger impact. Abu Dhabi is proving itself as a key player in global reinsurance, and RIQ’s innovative approach is helping solidify the city’s position at the forefront of the industry.
Conclusion
The $500 million reinsurance partnership between RIQ and ADNOC is just the beginning. Through AI-powered solutions and innovative underwriting, RIQ is reshaping reinsurance, paving the way for smarter, more efficient risk management. With ADNOC and IHC’s backing, RIQ aims to write $10 billion annually, establishing Abu Dhabi as a reinsurance powerhouse. This growth is particularly impactful for sectors like hospitality and tourism, where risk management is key to ensuring resilience and sustainability.
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