Abu Dhabi, United Arab Emirates – International Holding Company announced on Friday a strategic partnership with the RIQ reinsurance platform, with the partnership aiming to achieve reinsurance premiums worth more than $500 million over the next decade.
The partnership reflects the International Holding Company’s commitment to achieving leadership in the field of smart capital allocation and providing innovative solutions in the field of risks to bring about transformation in this sector. By leveraging the AIQ infrastructure, the International Holding Company aims to improve the ability of its companies to adapt to challenges and increase the flexibility of their operational performance.
RIQ is headquartered at Abu Dhabi International ADGM and was launched earlier this year by International Holding in partnership with BlackRock and Lunet.
RIQ offers a full range of reinsurance solutions and works closely with International Holding and its subsidiaries to design highly capital-efficient coverage across complex risk categories in specialist, property, and potential damage insurance.
RIQ is currently continuing its progress in completing regulatory procedures with the Abu Dhabi Financial Services Regulatory Authority, ADGM, and obtaining an official license as a reinsurance company. In parallel, final preparations are underway to implement the reinsurance deal between the International holding company and RIQ, which is still subject to regulatory approval. This deal will represent the starting point for launching RIQ’s operational operations.
Sayed Basr Shoaib, CEO of International Holding, said that through the alliance with RIQ, the company will contribute to the next chapter in Abu Dhabi’s development journey and consolidate its position as a International center for innovation in the field of reinsurance. He explained that the importance of the partnership is not limited to financial commitment only, but also constitutes a strategic investment to build the future of strong and flexible infrastructure and more adaptable industries.
Additional strategic developments are expected to be announced in the coming months, while RIQ continues to implement its International acquisition and development strategy.
RIQ aims to issue reinsurance documents worth $10 billion annually, based on capital commitments worth more than $1 billion from the International holding company and strategic partners BlackRock and Lunet, in addition to its infrastructure based on artificial intelligence.
