IHC launches $1 billion AI-native reinsurer in Abu Dhabi
BlackRock and Lunate join strategic AI-powered insurance venture
#UAE #insurance – Abu Dhabi investment company IHC (International Holding Company) has launched a new AI-native global reinsurance platform with more than $1 billion in initial equity. Headquartered at Abu Dhabi Global Market (ADGM), the platform is backed by BlackRock, which will provide asset management, advisory and technology capabilities, and Lunate, a global alternative investment manager. The venture targets $10 billion in insurance liabilities, with a strong focus on the Middle East and Asia, and will offer tailored reinsurance across P&C, Life, and specialty lines.
SO WHAT? – The launch of a AI-native global reinsurance platform is both a strategic move to establish Abu Dhabi as a competitive player in the global insurance market, and one of the biggest AI-native venture launches to-date. The new venture will use AI to boost capital efficiency, underwriting precision and many other facets of the new business. Abu Dhabi already has a global reputation for big AI plays and so the formation of this pioneering new AI-native venture can be expected to attract global attention.
Here are some key facts about this announcement:
Abu Dhabi investment company IHC (International Holding Company) has launched a new AI-native global reinsurance platform with more than $1 billion in initial equity, and a goal to build a $10 billion liability book.
The company will be based in Abu Dhabi Global Market (ADGM) and serve international markets, with a core focus on the Middle East and Asia.
BlackRock, the world’s largest asset manager, will support the platform with insurance asset management, advisory services and its Aladdin technology.
Abu Dhabi-based alternative investment manager Lunate joins as a partner, marking its first foray into reinsurance.
The platform will adopt an AI-native strategy from day one, allowing it to bypass legacy tech systems and optimise pricing, analytics, and operational efficiency.
A ‘buy-and-build’ strategy will drive expansion, combining acquisitions and organic growth to scale quickly.
The platform will offer reinsurance for Property & Casualty, Life, and specialty products tailored to regional and global needs.
It will be chaired by H.E. Dr. Sultan Ahmed Al Jaber, also the UAE Minister of Industry and Advanced Technology; with former Aviva and AIA CEO Mark Wilson appointed to lead operations.
ADGM’s regulatory environment and access to a fast-growing regional insurance market were key factors in the location decision.
The venture underscores IHC’s long-term strategy to drive innovation, technology integration, and economic diversification through global partnerships.
[Written and edited with the assistance of AI]