International Holding Company (IHC), a leading global investment firm, has launched a groundbreaking reinsurance platform in Abu Dhabi Global Market (ADGM). Developed in collaboration with strategic partners BlackRock and Lunate, the new initiative will bring advanced AI technology to the heart of global insurance innovation.
The platform—yet to be named—will focus on delivering cutting-edge underwriting capabilities designed to accelerate economic growth across the Gulf and contribute to the continued expansion of regional capital markets. Its operations will be built from the ground up using AI, giving it an edge in risk analytics, capital optimisation, and pricing precision, free from the constraints of legacy systems.
As part of the strategic partnership, BlackRock will support the venture with its world-class insurance asset management expertise, advisory services, and proprietary Aladdin platform. With its proven track record in global multi-asset investments across private and public markets, Lunate will also play a key role in the platform’s development and execution.
The platform will provide bespoke reinsurance solutions across Property and Casualty (P&C), Life, and specialised insurance segments. Based in the Abu Dhabi Global Market (ADGM), it will operate across key international markets while focusing strategically on the Middle East and Asia.
“We are excited to bridge global capital with regional opportunities in this fast-growing market to launch a value accretive business with solid financial returns while shaping the future of insurance with cutting edge technology,” said Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, who will serve as Chairman of the new company.
“Supported by exceptional global partners in IHC, BlackRock, and Lunate, the new company will bring deep expertise, a strong capital base, and AI-driven underwriting to enhance efficiency and precision. Furthermore, establishing the company in ADGM gives us access to a robust regulatory framework, a rapidly growing insurance market, and a dynamic financial hub.”
At the core of the platform’s strategy is a buy-and-build model, with initial liabilities projected to exceed $10 billion. More than $1 billion in equity commitments are already secured, and additional hybrid and debt financing is expected to strengthen the platform’s capital base. Following the signing of definitive agreements, BlackRock will make a minority investment in the venture.
The platform will be led by Mark Wilson, former CEO of Aviva Plc and AIA Group Limited, who brings decades of experience in the insurance and financial services 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,” said Wilson.
Syed Basar Shueb, CEO of IHC, emphasised the company’s vision:
“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.”
Larry Fink, Chairman and CEO of BlackRock, highlighted the broader significance of the collaboration:
“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.”
Murtaza Hussain, Managing Partner at Lunate, added:
“We are excited to partner with IHC and BlackRock to build a regional champion in the insurance industry. We look forward to contributing our investment expertise, as we capitalise on opportunities in adjacent business areas. Equally, we are proud to be a part of the evolution of Abu Dhabi’s financial ecosystem.”
This bold new venture signals a significant shift in how the region approaches insurance and capital markets. It combines deep capital reserves, cutting-edge AI, and global expertise to create a transformative force in reinsurance and financial innovation.
–Input WAM
