International Holding Company (IHC) has unveiled an AI-powered reinsurance platform, based in the Abu Dhabi Global Market (ADGM), as part of a strategic collaboration with BlackRock and Lunate. This innovative platform aims to bolster the region’s expanding financial sector, delivering advanced insurance asset management, advisory services, and cutting-edge Aladdin technology capabilities.
The new platform will provide tailored insurance solutions across various sectors, including property and casualty (P&C), life insurance, and specialised products. It will primarily focus on key international markets, with an emphasis on the Middle East and Asia, while adapting to global market needs. The platform’s approach includes a buy-and-build strategy, targeting initial liabilities exceeding $10 billion and equity commitments exceeding $1 billion, backed by both hybrid and debt financing. BlackRock will also contribute a minority investment after finalising the necessary documentation.
Larry Fink, Chairman and CEO of BlackRock, expressed his enthusiasm about the project: “We are proud to collaborate with IHC and Lunate in this transformative endeavour to help accelerate the development of a more dynamic insurance, capital markets and financial ecosystem in Abu Dhabi and the broader region. We look forward to applying our asset management, advisory and technology capabilities to support its growth.”
Syed Basar Shueb, CEO of IHC, highlighted the strategic importance of the initiative: “This venture embodies IHC’s commitment to innovation and strategic growth. 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.”
Mark Wilson also emphasised the platform’s unique positioning within the rapidly evolving capital markets and AI sectors: “Abu Dhabi stands at the nexus of a rapidly evolving landscape in capital markets and AI technology. With its AI-native foundation, robust capital backing, and exceptional strategic partners, the company is uniquely positioned to redefine the future of insurance.”