Latest news with #RIQ
Yahoo
7 days ago
- Business
- Yahoo
IHC unveils RIQ as new reinsurance platform name in Abu Dhabi's ADGM
IHC, a global investment company, has unveiled Reinsurance Intelligence Quotient (RIQ) as the official name of its new reinsurance platform, based in Abu Dhabi Global Market (ADGM). This follows IHC's recent announcement of its collaboration with BlackRock and Lunate, with the aim to establish a reinsurance platform. The platform will cater to the reinsurance needs of the future, focusing on property and casualty (P&C), life and specialised market segments, with an emphasis on high-growth markets. RIQ's strategy is to utilise AI for improved risk selection, cost management and customer service. RIQ is progressing through the final regulatory approvals with the Financial Services Regulatory Authority (FSRA) of ADGM and is gearing up for operational readiness. Additionally, RIQ's Board of Directors has been formed, chaired by Sultan Ahmed Al Jaber. The board features figures such as Mohamed Hassan Alsuwaidi, Syed Basar Shueb, Sofia Abdellatif Lasky and Mark Wilson. RIQ CEO and IHC Board member Syed Basar Shueb said: 'RIQ is the embodiment of IHC's vision to invest in the next frontier of global financial services. Backed by AI, robust capital and strategic alignment with world-class partners, RIQ is set to elevate the insurance and capital markets ecosystem across the region and beyond.' The platform's foundation in AI is intended to provide real-time insights and enhance underwriting precision. RIQ has secured more than $1bn (Dh3.67bn) in initial equity commitments and aims to manage more than $10bn in liabilities. RIQ CEO Mark Wilson stated: 'We are proud to officially launch RIQ. Our new name signals our long-term commitment to building a high-performance, AI-native reinsurance company with the scale and agility to lead in a rapidly changing world. 'Our board's collective experience and our strategic partnerships provide an exceptional foundation for sustainable global growth.' "IHC unveils RIQ as new reinsurance platform name in Abu Dhabi's ADGM " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fintech News ME
7 days ago
- Business
- Fintech News ME
IHC Launches AI-Powered Reinsurance Platform RIQ in Abu Dhabi
International Holding Company (IHC), a global investment firm, has announced the official launch of Reinsurance Intelligence Quotient (RIQ), a reinsurance platform based in Abu Dhabi Global Market (ADGM). This follows an earlier announcement and reflects the joint efforts of IHC, BlackRock, and Lunate to expand in the global insurance sector through the use of technology and strategic collaboration. RIQ integrates AI with sector expertise to offer reinsurance solutions across Property and Casualty (P&C), Life, and specialised segments, beginning with high-growth markets. The platform aims to enhance risk selection, cost efficiency, and service delivery by leveraging AI-driven tools. The company has formed a Board of Directors chaired by Dr Sultan Ahmed Al Jaber. The board includes H.E. Mohamed Hassan Alsuwaidi, Syed Basar Shueb, Sofia Abdellatif Lasky, and Mark Wilson. RIQ is currently finalising regulatory requirements with the Financial Services Regulatory Authority (FSRA) of ADGM. Supported by over US$1 billion in initial equity commitments and targeting over US$10 billion in liabilities, RIQ is structured to operate as an AI-native platform. Its capabilities include real-time data analysis, underwriting improvements, and capital deployment strategies. Syed Basar Shueb, CEO of IHC and RIQ board member, added: 'RIQ is the embodiment of IHC's vision to invest in the next frontier of global financial services. Backed by AI, robust capital, and strategic alignment with world-class partners, RIQ is set to elevate the insurance and capital markets ecosystem across the region and beyond.' As RIQ moves towards full operations, it plans to expand its technical capabilities, grow its workforce, and develop selected partnerships with the continued support of BlackRock and Lunate.
Arabian Post
14-06-2025
- Business
- Arabian Post
AI‑Powered 'RIQ' Sets New Reinsurance Benchmark
Arabian Post Staff -Dubai Abu Dhabi‑based IHC, in collaboration with BlackRock and Lunate, has officially launched Reinsurance Intelligence Quotient—RIQ—a global, AI‑native reinsurance platform headquartered in the Abu Dhabi Global Market. Anchored by over US $1 billion in initial equity, RIQ aims to underwrite more than US $10 billion in liabilities, spanning property and casualty, life, and specialty lines. The platform unites human talent with advanced artificial intelligence to refine risk selection, cost control, underwriting, and customer service. Its AI core provides real‑time insights and precision decision‑making, seeking to optimise capital deployment on a global scale. Registered with the Financial Services Regulatory Authority of ADGM, RIQ is in the final stages of securing full regulatory approval. ADVERTISEMENT The board of directors, chaired by Dr Sultan Ahmed Al Jaber, includes notable figures such as Syed Basar Shueb, H E Mohamed Hassan Alsuwaidi, Sofia Abdellatif Lasky, and RIQ CEO Mark Wilson, former leader at Aviva and AIA. The governance structure positions RIQ to balance regional expertise with global vision, leveraging its strategic partners. The initiative builds on a May plan unveiled by IHC, BlackRock, and Lunate to establish an AI‑powered reinsurer targeting US $10 billion in liabilities with over US $1 billion in capital. BlackRock will contribute its Aladdin technology and insurance asset management services, while Lunate brings private and public market investment capabilities. IHC CEO Syed Basar Shueb has emphasised the venture's role in accelerating Abu Dhabi's and the wider region's nascent insurance and capital market ecosystems. 'RIQ is the embodiment of IHC's vision to invest in the next frontier of global financial services,' Shueb stated. Meanwhile, RIQ CEO Mark Wilson described the platform as purpose‑built for a changing market, combining speed and flexibility backed by deep capital. Dr Al Jaber, who also serves as UAE's minister of industry and advanced technology, said the platform would 'connect global capital with high‑growth markets, all from the heart of Abu Dhabi's thriving financial centre'. This reflects a broader strategic push by Abu Dhabi to position itself as a hub for innovative financial services and AI‑driven offerings. Analysts have observed that RIQ's AI‑native architecture could challenge traditional reinsurance models, where legacy systems often hinder real‑time pricing accuracy and capital efficiency. With global risk landscapes evolving due to climate change, cyber threats, and geopolitical instability, the deployment of AI in underwriting and risk transfer represents a notable shift in industry norms. Industry commentators note that IHC, already one of the region's largest investment houses, continues to accelerate its diversification strategy, adding reinsurance to its growing portfolio that spans technology, energy, real estate, healthcare, and food production. Its ability to marshal more than US $455 billion in assets and maintain tight ties to the Abu Dhabi ruling establishment adds strategic depth to RIQ's capital and governance framework. Key trends marking this launch include the convergence of finance and bleeding‑edge technology, a stronger regional emphasis on insurance capacity, and elevated geopolitical importance of financial resilience. RIQ is set to capitalise on these developments, channeling global capital into emerging markets, while establishing Abu Dhabi as a next‑generation centre for financial innovation.
