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.

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