RIQ, the AI-native reinsurance platform and a subsidiary of International Holding Company (IHC), has entered into a strategic reinsurance collaboration agreement with ADNOC, a leading diversified energy group, wholly owned by the Abu Dhabi government.
The two parties aim to develop a preferred reinsurance partnership targeting an allocation of over $500m in risk coverage within the coming decade.
They released a joint statement, saying, “Under this agreement, RIQ will work closely with ADNOC to structure capital-efficient coverage across complex operational, climate-related, and specialty risk classes. The platform will leverage advanced data modelling, AI-augmented underwriting, and deep analytics to meet the demands of an increasingly sophisticated risk landscape.”
RIQ, the platform launched in May this year by IHC in partnership with BlackRock and Lunate, is currently advancing through the regulatory process, as it moves toward formal authorisation as a reinsurer. RIQ will be based in ADGM and offer a full suite of reinsurance solutions. IHC is an Abu Dhabi-headquartered global investment company.
The collaboration with ADNOC, combined with RIQ’s recent strategic alliance with IHC, creates a collective trajectory of over $1bn in reinsurance premiums committed through RIQ’s platform over the coming decade. These partnerships underscore Abu Dhabi’s ascent as a next-generation global reinsurance hub, fusing intelligent capital, technology, and structured risk solutions.
Mr Ahmad Khalfan Al Mansoori, chairman of ADNOC Re, the captive insurance unit of the ADNOC group, said, “This partnership will enhance ADNOC’s operational resilience by tailoring reinsurance solutions to evolving industrial and climate risks. Leveraging RIQ’s AI-powered platform will strengthen our risk management capabilities and ensure continuity in a complex energy landscape.”
Mr Mark Wilson, CEO of RIQ, added: “Together with our recent partnership with IHC, this alliance brings together cutting-edge technology, strategic capital, and domain expertise to redefine global reinsurance from Abu Dhabi outward. These relationships signal a bold step in building the reinsurance platform of the future.’’
Additional strategic updates are expected in the coming months as RIQ executes its global buy-and-build strategy. With over $1bn in equity commitments from IHC and strategic partners BlackRock and Lunate, and anchored in AI-native infrastructure, RIQ aims to ultimately write $10bn per year, redefining reinsurance through intelligence, scale and strategic discipline.
ADNOC’s objective is to maximise the value of the Abu Dhabi’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the UAE’s economic growth and diversification. ADNOC Re was established in 2018.