IHC is set to launch a global reinsurance platform headquartered in Abu Dhabi Global Market (ADGM), in partnership with BlackRock and Lunate.
The firm says the new platform will focus on property and casualty, life, and specialised insurance lines, offering tailored solutions across key international markets.
Designed as an AI-native reinsurer, the initiative aims to enhance underwriting, risk assessment, and capital efficiency using next-generation technology, free from legacy systems.
With a strategic focus on the Middle East and Asia, the platform will also target global opportunities through a buy-and-build strategy.
The platform’s initial liabilities are projected to exceed US$10 billion, supported by more than US$1 billion in equity commitments and additional hybrid and debt financing.
BlackRock will contribute its insurance asset management expertise, Aladdin technology, and a minority investment, while Lunate brings experience in private and public markets.
The venture will be chaired by Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, and led by Mark Wilson, former CEO of Aviva and AIA.
Insurance is seen as a key pillar in advancing economic development in the Gulf, with the platform intended to strengthen regional capital markets through local reinsurance capacity.
Dr Al Jaber says the company would “bridge global capital with regional opportunities” while “shaping the future of insurance with cutting edge technology”.
Syed Basar Shueb, CEO of IHC, adds that the venture “embodies IHC’s commitment to innovation and strategic growth” and “aims to redefine the insurance landscape, delivering sustainable value to stakeholders and contributing to the economic prosperity of the region”.
