Abu Dhabi – Mubasher: International Holding Company (IHC) plans to establish a new AI-driven reinsurance platform headquartered in the Abu Dhabi Global Market (ADGM), according to a recent press release.
This new platform will provide critical underwriting capabilities to help accelerate the rapid growth in the Gulf region and back growth of regional capital markets.
It will implement a buy-and-build strategy, targeting initial liabilities exceeding $10 billion, while the initial equity commitments are expected to cross $1 billion, which will be bolstered by additional hybrid and debt financing.
BlackRock will team up with the platform to provide leading insurance asset management, advisory, and its Aladdin technology capabilities to the initiative.
Meanwhile, Lunate will leverage its expertise in private and public markets to support the platform.
The platform will provide tailored solutions covering property and casualty (P&C), life, and specialized insurance products.
Through its office in ADGM, it will operate across key international jurisdictions, creating a local platform capable of adapting to the diverse demands of the global market, while focusing on the Middle East and Asia.
Syed Basar Shueb, CEO of IHC, commented: “By leveraging our diversified portfolio and deep regional insights, we aim to redefine the insurance landscape, delivering sustainable value to our stakeholders and contributing to the economic prosperity of the region.”
Larry Fink, Chairman and CEO of BlackRock, said: “We are proud to collaborate with IHC and Lunate in this transformative endeavor to help accelerate the development of a more dynamic insurance, capital markets and financial ecosystem in Abu Dhabi and the broader region.”
IHC recently disclosed its financial performance for the first quarter (Q1) of 2025, recording lower net profits at AED 4.12 billion, compared to AED 8.01 billion in Q1-24.
