Abu Dhabi’s International Holding Company (IHC) is launching a new AI-driven reins. platform in partnership with BlackRock and alternative asset manager Lunate, according to a statement. The company, which has not yet been named, will be headquartered in ADGM and will operate across international markets, with a strategic focus on the Middle East and Asia. It aims to boost regional ins. capacity and improve capital deployment, the statement said.

What it does: The platform will offer tailored underwriting solutions in property and casualty, life, and specialty ins., and use AI to improve the quality and speed of risk assessments.

The financials: It will pursue a buy-and-build strategy targeting initial liabilities USD 10 bn in initial liabilities. The venture will be backed by more than USD 1 bn in equity commitments, and will be followed by additional hybrid and debt financing as well as a minority investment commitment from BlackRock

Leadership: Former Aviva and AIA Group CEO Mark Wilson (LinkedIn) will lead the company as CEO, with UAE Industry Minister and Adnoc Group CEO Sultan Al Jaber serving as chair. The ownership split has not been disclosed.

Who’s doing what? BlackRock will contribute ins. asset management, advisory services, and its Aladdin technology stack. Lunate will offer its multi-asset investment expertise to support the venture.

REMEMBER- BlackRock has been ramping up its presence in the UAE since obtaining a commercial license in Abu Dhabi last November, with a focus on private markets and AI infrastructure. It partnered with Abu Dhabi’s MGX on a planned USD 30 bn global AI infrastructure fund alongside Microsoft, Nvidia, and xAI. It has also launched five funds with Aditum Investment Management for UAE investors and teamed up with Emirates NBD to offer private market access through a platform tied to its USD 450 bn alternatives business.

The story got ink from Bloomberg.

IN OTHER IHC NEWS-

IHC subsidiary Emirates Stallions Group (ESG) has opened a new Saudi branch for Decovision, its interior design and fit-out contracting and engineering arm, according to an ADX disclosure (pdf). The move supports ESG’s strategy to increase its presence in high-growth markets and cater to rising demand amid Saudi Arabia’s ongoing infrastructure and commercial development push.

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