RIQ, an AI-native reinsurance platform launched by International Holding Company (IHC) in partnership with BlackRock and Lunate, has entered a strategic agreement with ADNOC to secure over $500 million in reinsurance allocations over the next decade.
RIQ, which operates from Abu Dhabi Global Market (ADGM) and is progressing through regulatory approval as a reinsurer, will work with ADNOC to implement capital‑efficient reinsurance solutions covering operational, climate-related and specialty risks.
Including its earlier agreement with IHC, RIQ now projects more than $1 billion in reinsurance premiums over the coming decade.
RIQ will deploy data modelling, AI‑augmented underwriting and analytics to support the initiative.
Ahmad Khalfan Al Mansoori, Chairman of ADNOC Re, said the deal will bolster ADNOC’s resilience against evolving industrial and climate exposures using RIQ’s AI platform.
Mark Wilson, RIQ CEO, said the collaboration with ADNOC and IHC aligns strategic capital and domain expertise to reshape reinsurance from Abu Dhabi.
RIQ has secured over $1 billion in equity backing from IHC, BlackRock and Lunate. The platform aims to write $10 billion annually once authorised.
