Institutional investor IHC announced the launch of a new artificial intelligence-based reinsurance platform, headquartered in the Abu Dhabi Global Market.
Although the platform remains unnamed, IHC stated that equity commitments are expected to exceed $1 bn, with additional funding from hybrid and debt instruments.
The platform will pursue a buy-and-build strategy, aiming to manage more than $10 bn in initial liabilities.
BlackRock will serve as a key partner, offering insurance asset management, advisory services, and access to its Aladdin technology platform.
Lunate will contribute expertise in global private and public markets, along with multi-asset investment capabilities. Following the execution of definitive agreements, BlackRock will also make a minority equity investment in the venture.
The platform will provide solutions in property/casualty, life, and specialty insurance segments. It will operate across major international markets, with a regional focus on the Middle East and Asia.
According to IHC, the initiative is structured to adapt to global market demands while supporting regional financial development.
Mark Wilson, former CEO of Aviva and AIA Group, will lead the company as chief executive. Sultan Ahmed Al Jaber, UAE minister of industry and advanced technology, will chair the board.
Wilson said Abu Dhabi offers a strong foundation for the intersection of capital markets and AI, and highlighted the company’s capital support and strategic partnerships as key strengths.
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.
Mark Wilson, former CEO of Aviva and AIA Group
The initiative reflects growing insurer interest in AI applications aimed at reducing operational burdens and improving efficiency.
